Tharisa signs ‘landmark’ BEE deal as it eyes diversification
Court’s affirmation of the ‘once-empowered-always-empowered’ principle allows for simplification of Tharisa’s structure and broader benefits for BEE shareholders
Chrome and platinum group metals (PGMs) miner Tharisa has signed a R390m share-swap deal that takes advantage of the once-empowered-always-empowered principle, and said its BEE shareholders are pleased with their new group-level exposure to a miner with significant growth ambitions.
The deal sees Tharisa acquire the 26% BEE interest in subsidiary Tharisa Minerals, which owns the flagship Tharisa mine near Brits, through the issue of about 13.9-million shares, about 5% of the number in issue. It will also enable BEE shareholders to benefit more broadly from Tharisa’s other assets, including chrome and platinum interests in Zimbabwe, and expansion plans, it said...
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