Commodity-TV

The whole world of commodities in one App!

Watch Management & Expert Interviews, Site-Visit-Videos, News Shows and receive top and up to date Mining Information on your mobile device worldwide!

Download our unique App for free!
Commodity-TV Play Store
Commodity-TV App Store
Commodity-TV

Social Media


Director Dealings

Sibanye Gold - Driefontein Operations

Receive up-to-date information about the company directly via push notification

Johannesburg, 4 March 2020: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW - https://www.commodity-tv.com/play/sibanye-stillwater-company-teaser-2019/ )in compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements ("the Listings Requirements") hereby advises shareholders that Messrs NJ Froneman and C Keyter, Chief Executive Officer and Chief Financial Officer of Sibanye Stillwater Limited have retained and/ or sold Performance Shares which were granted on 1 March 2017 (“the Grant Date”) in terms of The Sibanye Stillwater Limited 2017 Share Plan. Performance Shares awarded to Messrs Froneman and Keyter were sold in order to settle the associated tax liability.   

 

Name

NJ Froneman

Position

Chief Executive Officer

Company

Sibanye Stillwater Limited

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares to cover associated tax liability

Transaction Date   

2 March 2020

Number of Shares   

242 155

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R8 004 118,72

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

NJ Froneman

Position

Chief Executive Officer

Company

Sibanye Stillwater Limited

Nature of interest

Direct and Beneficial

Nature of transaction

Retention of performance shares awarded on 1 March 2017

Transaction Date   

2 March 2020

Number of Shares   

278 610

Class of Security  

Ordinary Shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R9 209 091,357

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

 

In addition, Neal Froneman has bought call options over 2,976,548 Sibanye-Stillwater shares with a strike price of R33.35 expiring on 8 October 2020. This new trade done at a premium effectively buys back upside to a previous collar transaction that was executed as part of a funding arrangement, in such a manner that is structure is no longer capped and now retains full upside to the SSW share price.

Name
Position

:
:

Neal Froneman
Chief Executive Officer

Company

:

Sibanye Stillwater Limited

Date of transaction

:

2 March 2020

Date of expiry of the collar

:

8 October 2020

Class of securities

:

Ordinary shares

Nature of transaction

:

Off-market Purchase of call options over 2,976,548 Sibanye-Stillwater shares with a strike price of R33.35 and expiring on 8 October 2020

Nature of interest

:

Direct beneficial

 

Name

C Keyter

Position

Chief Financial Officer

Company

Sibanye Stillwater Limited

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares to cover associated tax liability

Transaction Date   

2 March 2020

Number of Shares   

150 756

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R4 983 043,60

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

C Keyter

Position

Chief Financial Officer

Company

Sibanye Stillwater Limited

Nature of interest

Direct and Beneficial

Nature of transaction

Retention of performance shares awarded on 1 March 2017

Transaction Date   

2 March 2020

Number of Shares   

173 451

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R5 733 197,32

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

 

In terms of paragraph 3.66 of the Listings Requirements, the necessary clearance to deal in the above securities has been obtained.

 

 

Dealing in securities by a director of major subsidiary

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements, shareholders are further advised that Dr Richard Stewart, Executive Director of Stillwater Mining Company and a prescribed officer of the Company has retained and/ or sold Performance Shares which were granted on 1 March 2017 (“the Grant Date”) in terms of The Sibanye Stillwater Limited 2017 Share Plan. Performance Shares awarded to Mr Stewart were sold in order to settle the associated tax liability.   

Name

RA Stewart

Position

Executive Director of Stillwater Mining Company and EVP: Business Development

Company

Sibanye Stillwater Limited

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares to cover associated tax liability

Transaction Date   

2 March 2020

Number of shares 

115 211

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R3 808 149,83

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

RA Stewart

Position

Executive Director of Stillwater Mining Company and EVP: Business Development

Company

Sibanye Stillwater Limited

Nature of interest

Direct and Beneficial

Nature of transaction

Retention of performance shares awarded on 1 March 2017

Transaction Date   

2 March 2020

Number of shares 

132 556

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R4 381 466,26

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

 

Dealing in securities by prescribed officers of the Company

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements, shareholders are further advised that the following prescribed officers of the Company have retained and/ or sold Performance Shares which were granted on 1 September 2016 and 1 March 2017 (“the Grant Date”) in terms of The Sibanye Stillwater Limited 2017 Share Plan. Performance Shares awarded were sold in order to settle the associated tax liability.   

 

Name

JD Mostert

Position

EVP: Organisational Effectiveness

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares awarded on 1 March 2017

Transaction Date   

2 March 2020

Number of shares

184 959

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R6 113 579,30

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

H Dikgale

Position

EVP: Legal and Compliance

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares to cover associated tax liability

Transaction Date   

2 March 2020

Number of shares 

85 844

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R2 837 461,82

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

 

Name

H Dikgale

Position

EVP: Legal and Compliance

Nature of interest

Direct and Beneficial

Nature of transaction

Retention of performance shares awarded on 1 March 2017

Transaction Date   

2 March 2020

Number of shares

98 768

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R3 264 647,84

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

 

 

 

 

Name

S Bessit

Position

EVP: SA Gold Operations

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares to cover associated tax liability

Transaction Date   

2 March 2020

Number of shares 

80 879

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R2 673 350,20

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

S Bessit

Position

EVP: SA Gold Operations

Nature of interest

Direct and Beneficial

Nature of transaction

Retention of performance shares awarded on 1 March 2017

Transaction Date   

2 March 2020

Number of shares  

93 055

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R3 075 812,05

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

T Nkosi

Position

EVP: Corporate Affairs

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares awarded on 1 September 2016

Transaction Date   

2 March 2020

Number of shares 

12 711

Class of Security  

Ordinary shares

Market Price per share:
Low –
High –
sell price -

 

R32.2250
R34.4000
R33.0537

Total Value       

R420 145,58

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

T Nkosi

Position

EVP: Corporate Affairs

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares to cover associated tax liability

Transaction Date   

2 March 2020

Number of shares 

76 915

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R2 542 325,34

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

T Nkosi

Position

EVP: Corporate Affairs

Nature of interest

Direct and Beneficial

Nature of transaction

Retention of performance shares awarded on 1 March 2017

Transaction Date   

2 March 2020

Number of shares 

88 494

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R2 925 054,13

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

W Robinson

Position

EVP: Group Technical

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares to cover associated tax liability

Transaction Date   

2 March 2020

Number of shares 

96 511

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R3 190 045,64

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

W Robinson

Position

EVP: Group Technical

Nature of interest

Direct and Beneficial

Nature of transaction

Retention of performance shares awarded on 1 March 2017

Transaction Date   

2 March 2020

Number of shares

111 041

Class of Security  

Ordinary shares

Market Price per share:

Low –

High –

sell price -

 

R32.2250

R34.4000

R33.0537

Total Value       

R3 670 315,90

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

Name

R van Niekerk

Position

EVP: SA Platinum Operations

Nature of interest

Direct and Beneficial

Nature of transaction

On market sale of performance shares awarded on 1 March 2017

Transaction Date   

2 March 2020

Number of shares

243 325

Class of Security  

Ordinary shares

Market Price per share:
Low –
High –
sell price -

 

R32.2250
R34.4000
R33.0537

Total Value       

R8 042 791,55

Vesting Period   

The Performance Shares vest on the third anniversary of the Grant Date

In addition, Robert van Niekerk has entered into a new financing structure in which 257 732 of Mr van Niekerk’s ordinary shares were pledged and subject to scrip lending, security loan of R7.7 million, have been used as collateral under this arrangement.

Name
Position

:
:

Robert Van Niekerk
EVP: SA Platinum Operations

Company

:

Sibanye Stillwater Limited

Date of transaction

:

28 February 2020

Date of expiry of the collar

:

1 March 2021

Class of securities

:

Ordinary shares

Nature of transaction

:

Off-market collar arrangement over 257 732 ordinary shares of the Company with a put strike price of R30.00 and a call strike price of R39.00 

Nature of interest

:

Direct beneficial

Clearance obtained

:

Yes

 

 

 

In terms of paragraph 3.66 of the Listings Requirements, the necessary clearance to deal in the above securities has been obtained.

Ends.

 

Contact:
Email:  [email protected]  

James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014

Sponsor: J.P. Morgan Equities South Africa (Proprietary) Limited

In Europe:
Swiss Resource Capital AG
Jochen Staiger
[email protected]
www.resource-capital.ch

 

FORWARD LOOKING STATEMENTS
The information in this announcement may contain forward-looking statements within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, among others, those relating to Sibanye-Stillwater Limited’s (trading as Sibanye-Stillwater) (“Sibanye-Stillwater” or the “Group”) financial positions, business strategies, plans and objectives of management for future operations, are necessarily estimates reflecting the best judgment of the senior management and directors of Sibanye-Stillwater.

All statements other than statements of historical facts included in this announcement may be forward-looking statements. Forward-looking statements also often use words such as “will”, “forecast”, “potential”, “estimate”, “expect” and words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth in this disclaimer and in the Group’s Annual Integrated Report and Annual Financial Report, published on 29 March 2019, and the Group’s Annual Report on Form 20-F filed by Sibanye-Stillwater with the Securities and Exchange Commission on 5 April 2019 (SEC File no. 001-35785), and the Form F-4 filed by Sibanye Stillwater Limited with the Securities and Exchange Commission on 4 October 2019 (SEC File no. 333-234096) and any amendments thereto. Readers are cautioned not to place undue reliance on such statements.

The important factors that could cause Sibanye-Stillwater’s actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, our future business prospects; financial positions; debt position and our ability to reduce debt leverage; business, political and social conditions in the United States, United Kingdom, South Africa, Zimbabwe and elsewhere; plans and objectives of management for future operations; our ability to obtain the benefits of any streaming arrangements or pipeline financing; our ability to service our bond Instruments (High Yield Bonds and Convertible Bonds); changes in assumptions underlying Sibanye-Stillwater’s estimation of their current mineral reserves and resources; the ability to achieve anticipated efficiencies and other cost savings in connection with past, ongoing and future acquisitions, as well as at existing operations; our ability to achieve steady state production at the Blitz project; the success of Sibanye-Stillwater’s business strategy; exploration and development activities; the ability of Sibanye-Stillwater to comply with requirements that they operate in a sustainable manner; changes in the market price of gold, PGMs and/or uranium; the occurrence of hazards associated with underground and surface gold, PGMs and uranium mining; the occurrence of labour disruptions and industrial action; the availability, terms and deployment of capital or credit; changes in relevant government regulations, particularly environmental, tax, health and safety regulations and new legislation affecting water, mining, mineral rights and business ownership, including any interpretations thereof which may be subject to dispute; the outcome and consequence of any potential or pending litigation or regulatory proceedings or other environmental, health and safety issues; power disruptions, constraints and cost increases; supply chain shortages and increases in the price of production inputs; fluctuations in exchange rates, currency devaluations, inflation and other macro-economic monetary policies; the occurrence of temporary stoppages of mines for safety incidents and unplanned maintenance; the ability to hire and retain senior management or sufficient technically skilled employees, as well as their ability to achieve sufficient representation of historically disadvantaged South Africans’ in management positions; failure of information technology and communications systems; the adequacy of insurance coverage; any social unrest, sickness or natural or man-made disaster at informal settlements in the vicinity of some of Sibanye-Stillwater’s operations; and the impact of HIV, tuberculosis and other contagious diseases. These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the extent legally required).

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required
SRC Mining & Special Situations ZertifikatSRC Mining & Special Situations Zertifikat

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required