Impala Platinum Holdings Ltd IMPJ.J :

* STRATEGIC UPDATE – IMPALA RUSTENBURG REVIEW

* TOTAL LABOUR COMPLEMENT (EMPLOYEES AND CONTRACTORS) TO REDUCE FROM 40000 TO 27000

* PRODUCTION GUIDANCE REVISED FROM 750 000 TO 520 000 OUNCES PLATINUM PER ANNUM

* REPLACEMENT CAPITAL TO REDUCE FROM R820 MILLION PER ANNUM IN FY2018, TO R120 MILLION IN FY2021 AND THEREAFTER TO ZERO IN FY2023

* RESTRUCTURING PLAN WILL BE FUNDED FROM INTERNAL CASH, CURRENT FACILITIES AND MONETISATION OF SOME INVENTORY STOCKS

* RESTRUCTURING PROCESS MAY POTENTIALLY HAVE AN IMPACT ON 9000 DIRECT JOBS AND 4000 CONTRACTOR POSITIONS

* SEES OPERATING SHAFTS REDUCE FROM 11 DURING FY2018 TO SIX IN FY2021

* REAL STAY-IN-BUSINESS CAPITAL EXPENDITURE TO REDUCE TO LESS THAN R2 000 PER PLATINUM OUNCE IN 2018

* ONCE-OFF RESTRUCTURING COSTS OF APPROXIMATELY R2.7 BILLION EXPECTED DURING FY2019 AND FY2020

* RESTRUCTURING PLAN WILL BE FUNDED FROM INTERNAL CASH, CURRENT FACILITIES AND MONETISATION OF SOME INVENTORY STOCKS

* PLATINUM MARKET HAS BEEN IN A SUSTAINED INDUSTRIAL OVERSUPPLY FOR SOME TIME

* IN ABSENCE OF VIABLE COMMERCIAL OPTIONS, MINING OPERATIONS AT 12 AND 14 SHAFTS WILL TERMINATE IN FY2020

* PRICE OF PLATINUM FURTHER IMPACTED BY UNRELATED BUT CONCURRENT EROSION IN DIESEL PASSENGER CAR SALES , AMONG OTHERS

* SHARED SERVICES & OVERHEAD LABOUR WILL BE REDUCED BY FURTHER 1 500 POSITIONS TO ACHIEVE FIT-FOR-PURPOSE LOWER-COST OPERATING MODEL

* PRICE OF PLATINUM FURTHER IMPACTED ALSO BY CONTRACTION IN CHINESE JEWELLERY DEMAND

* PLATINUM MARKET IS NOT EXPECTED TO SHIFT INTO A FUNDAMENTAL INDUSTRIAL DEFICIT UNTIL 2022, WHEN DEMAND IS AGAIN EXPECTED TO OUTPACE SUPPLY

* IMPALA RUSTENBURG HAS CONTINUED TO INCUR SIGNIFICANT CASH LOSSES

* SUBSTANTIAL STRUCTURAL CHANGES ARE THEREFORE REQUIRED TO RESTORE IMPALA RUSTENBURG TO SUSTAINABLE ECONOMIC VIABILITY