According to Aquarius Platinum's website, the black economic empowerment consortium is made up of Chuma Holdings, Malibongwe Women's Development Organisation and Savannah Resources Ltd says. Mineweb reports Savannah Resources transferred a further 15 million shares worth approximately R97.5 million or R6.50 per share to Rand Merchant Bank. Before these two transactions, the consortium sold another 1.5m shares in December 2011 for R31m or R20.54 per share.
Mineweb reports that the disposals, according to calculations using the last reported holdings as a percentage of shares in issue, show that the consortium still holds approximately 43 million shares. The percentage shareholding in the Aquarius group accordingly has dropped from approximately 13.7% to just over 9%.
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