Circular to Amplats Shareholders - Anglo American Platinum

Annexure 4SALIENT FEATURES OF NVF STRUCTURE AND REPURCHASEDefinitions and interpretationsExcept as set out below and unless otherwise stated or the context indicates a contrary intention, the definitionsand interpretation commencing on page 5 of this Circular shall apply mutatis mutandis to this this annexureand the words in the first column below shall have the meanings set out opposite them in the second column,words or expressions denoting one gender shall include the other gender, words importing natural personsshall include juristic persons and vice versa and the singular shall include the plural and vice versa :“First Trigger Date”“First Period Repurchase Shares”“First Period Subscription Shares”the first Trading Day at any time during the First Period where the MarketValue of an Amplats Ordinary Share is equal to or greater than the sum of:(i) the NVF Balance per Subscription Share held by the Trust; and(ii) the First Period Equity Trigger,as determined in accordance with the formula in paragraph 1.1 below;the number of Subscription Shares subject to a repurchase upon theoccurrence of the First Trigger Date as determined in accordance withthe formula in paragraph 1.2 below;33% of the total number of Subscription Shares issued and allotted to theTrust at the Closing Date;“First Period Unencumbered Shares” such number of First Period Subscription Shares, which shall cease to besubject to the Waived Dividend immediately following implementationof the First Period Repurchase, calculated as the difference between theFirst Period Subscription Shares and the First Period Repurchase Shares,as determined in accordance with the formula in paragraph 1.3 below;“Second Trigger Date”the first Trading Day at any time during the Second Period where theMarket Value of an Amplats Ordinary Share is equal to or greater than thesum of:(i) the NVF Balance per Subscription Share held by the Trust; and(ii) the Second Period Equity Trigger,as determined in accordance with the formula in paragraph 2.1 below;“Second Period Repurchase Shares” the number of Subscription Shares subject to a repurchase upon theoccurrence of the Second Period Trigger Date, determined in accordancewith the formula in paragraph 2.2 below;“Second Period SubscriptionShares”50% of the total number of Subscription Shares issued and allottedto the Trust at the Closing Date;“Second Period Unencumbered such number of Second Period Subscription Shares, which shall ceaseShares” to be subject to the Waived Dividend immediately followingimplementation of the Second Period Repurchase, calculated inaccordance with the formula in paragraph 2.3 below;“Final Trigger Date”the first Trading Day at any time during the Final Period where the MarketValue of an Amplats Ordinary Share is equal to or greater than the sum of:(i) the NVF Balance per Subscription Share held by the Trust; and(ii) the Final Period Equity Trigger,as determined in accordance with the formula in paragraph 3.1 below;38