Aquarius Platinum confirmed yesterday (18th June) that it has now received irrevocable undertakings to vote in favour of its offer for Ridge Mining.

The South African miner has been given the green light from Ridge directors and its two largest shareholders, Gold Mountains International Mining Company and Blackrock Investment Management.

According to the company, all the preconditions for the all-share deal - which represents 32.7 per cent of Ridge's issued ordinary share capital - have now been successfully met.

Having also received unconditional approval from the South African Competition Tribunal, Ridge shareholders will now meet on 6th July to rubber-stamp the offer.

The two parties will then seek the approval of the Court on 27th July in anticipation of the deal swinging into action on 30th July.

Ridge shareholders were asked to implement the transaction - which will be undertaken in accordance with a scheme of arrangement - in a circular from Aquarius last Thursday.

Aquarius Platinum is currently focusing its pgm production on six projects across the Bushveld Complex in South Africa and the Great Dyke site in Zimbabwe.

Source:

Aquarius has undertakings for Ridge deal (18/06/09)

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