Northam raises stake in Zambezi Platinum preference shares
03 November 2019 - 17:58
Northam Platinum has bought additional listed Zambezi Platinum preference shares that it issued in a R4bn empowerment transaction in 2015 to up its shareholding to nearly a quarter.
Northam CEO Paul Dunne has repeatedly said the company is unlikely to pay dividends, preferring to buy back the preference shares with excess cash, thus reducing its exposure to a complex instrument when they are redeemed in 2025...
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