Update on general repurchase of shares
Johannesburg, 13 September 2021: Further to the announcement on 1 June 2021, by Sibanye-Stillwater
(Tickers JSE: SSW and NYSE: SBSW)regarding the implementation of an on-market repurchase up to, but
not exceeding, 5% of its ordinary shares in issue ('Repurchase Programme'), and in terms of paragraph
11.27 of the Listings Requirements of the JSE Limited ('JSE') ('Listings Requirements'), the Company advises
its shareholders that (at the close of business) on 10 September 2021, it has, in a series of unrelated
transactions, cumulatively repurchased c.3% or 90,206,710 ordinary shares ('Repurchase'), in accordance
with the general authority granted by shareholders at the Company's annual general meeting held on 25
May 2021 ('General Authority'). The details of the Repurchase are set out in the table in Section 2,
hereunder.
Sibanye-Stillwater CEO, Neal Froneman said: 'on top of our sector leading dividend, we have allocated
capital to unlock significant additional value for our shareholders in line with our capital allocation
framework'.
2. DETAILS OF THE REPURCHASE OF ORDINARY SHARES
c.3%
total repurchase shares under General Authority:
84.74%
the maximum number of shares to be repurchased under the
Repurchase Programme:
38.93%
The repurchased shares have been cancelled and their listing removed between 9 June and 7 September 2021,
whilst the treasury shares shall be cancelled by 21 September 2021.
The board of directors of Sibanye-Stillwater has considered the effect of the Repurchase and is of the
opinion that, for a period of 12 months following the Repurchase:
•
group. For this purpose, the assets and liabilities were recognized and measured in accordance with
the accounting policies used in the latest audited annual group financial statements
purposes
performed, there have been no material changes to the financial position of the group
4. SOURCE OF FUNDS
The Repurchase has been funded from internal cash resources.
5. FINANCIAL INFORMATION
As at 13 September 2021, the Company's cash balance decreased by R4,988,361,127 and an accrual of
R330,516,860 was raised for Repurchase to be settled by 15 September 2021. Consequently, the share
capital was reduced by R5,318,877,987 (inclusive of directly attributable costs).
6. COMPLIANCE WITH PARAGRAPH 5.72 OF THE LISTING REQUIREMENTS
The Repurchase was effected through an order book operated by the JSE and done without any prior
understanding or arrangement between the Company and the counter parties. Accordingly, the
Company has complied with paragraph 5.72 (a) of the Listings Requirements. Furthermore, a portion of
the Repurchase was effected during a prohibited period, as defined in the JSE Listings Requirements and,
in this regard, a Repurchase Programme was put in place in accordance with paragraph 5.72(h) of the
Listings Requirements, as outlined in the aforementioned announcement. The buyback of the Company's
shares will continue until the completion of the Repurchase Programme.
Email: ir@sibanyestillwater.com
James Wellsted
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com
FORWARD LOOKING STATEMENTS
reflecting the best judgment of the senior management and directors of Sibanye-Stillwater and involve a number of
factors, including those set forth in this report.
Forward-looking statements also often use words such as 'will', 'forecast', 'potential', 'estimate', 'expect', 'plan',
factors, including those set forth in this disclaimer. Readers are cautioned not to place undue reliance on such
statements.
anticipated cost savings, financing plans, debt position and ability to reduce debt leverage; economic, business,
or pipeline financing; the ability of Sibanye-Stillwater to comply with loan and other covenants and restrictions and
tailings storage facility; the ability to achieve anticipated efficiencies and other cost savings in connection with, and
of Sibanye-Stillwater to complete any ongoing or future acquisitions; the success of Sibanye-Stillwater's business
gold and PGMs; the occurrence of hazards associated with underground and surface mining; any further
changes thereto; the occurrence of labour disruptions and industrial actions; the availability, terms and deployment
business ownership, including any interpretation thereof which may be subject to dispute; the outcome and
production in the United States with one entity; the identification of a material weakness in disclosure and internal
geographies and regulatory environments where Sibanye-Stillwater has no previous experience; power disruptions,
in its management positions; failure of Sibanye-Stillwater's information technology and communications systems; the
HIV, tuberculosis and the spread of other contagious diseases, such as the coronavirus disease (COVID-19). Further
the Johannesburg Stock Exchange and the United States Securities and Exchange Commission, including the
Integrated Annual Report 2020 and the Annual Report on Form 20-F for the fiscal year ended 31 December 2020.
These forward-looking statements have not been reviewed or reported on by the Group's external auditors.
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Sibanye Stillwater Limited published this content on 13 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 13:01:02 UTC.