Northam buys back R2.4bn in shares as Zambezi empowerment deal winds up
The group now holds all of the Zambezi preference shares it issued in 2015
Platinum group metals (PGMs) producer Northam Platinum has spent R2.4bn buying back an additional 3.9% of its shares and has now effectively wound up its 2015 Zambezi BEE scheme.
In August, Northam acquired all of the remaining Zambezi preference shares not already held by it. The Zambezi preference shares were subsequently delisted from the JSE, but held as Treasury shares. ..