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Atlatsa Resources Announces Revised Restructure Plan

Atlatsa Resources Corporation (ATL.V) reports that, together with Anglo American Platinum, the parties have entered into definitive agreements to implement a revised restructure, recapitalization and refinancing plan for Atlatsa and the Bokoni group of companies.

The revised restructure plan follows a detailed strategic review that was undertaken in 2012 by the new management team at Bokoni Mine, in conjunction with Anglo Platinum and Atlatsa.

Key highlights of the revised restructure plan include:

- a new, more conservative operating and financing plan at Bokoni Mine;

- a simplified capital structure, by unwinding all preference share structures allowing for one class of Atlatsa common shares going forward;

- a 75% reduction in Atlatsa's overall attributable debt from ZAR3.28 billion (US$386.38 million) to ZAR833 million (US$98.13 million) as at 31 December 2012;

- an equity capital injection of ZAR750 million (US$88.35 million) by Anglo Platinum subscribing for 125 million new Atlatsa common shares at ZAR6.00 per share (US$0.71);

- an increase in Atlatsa's BEE shareholding from 51% to 62% allowing for equity financing flexibility into the future;

- ZAR700 million (US$82.46 million) credit facility available to finance the new operating plan at Bokoni Mine; and

- reduced cost of borrowing by 85% from 13% to 2% over the debt term period between 2013 and 2020.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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