AFRICAN RAINBOW MINERALS LIMITED

South Africa
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Advised African Rainbow Minerals Ltd on the proposed restructuring of the ARM Broad-Based Economic Empowerment Trust. This involved a specific repurchase by a wholly owned subsidiary of ARM of 12 717 328 million shares in ARM from the ARM Broad-Based Economic Empowerment Trust and the refinancing of the ARM Broad-Based Economic Empowerment Trust. This was a very important transaction for ARM for purposes of ensuring the sustainability of its broad-based black economic empowerment credentials.

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