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SIBANYE GOLD LIMITED - Notification in terms of Section 45(5) of the Companies Act 71 of 2008

Release Date: 21/06/2017 09:07
Code(s): SGL     PDF:  
Wrap Text
Notification in terms of Section 45(5) of the Companies Act 71 of 2008

Sibanye Gold Limited
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye Gold”, “Sibanye”, “the Company” and/or “the Group”)


Notification in terms of Section 45(5) of the Companies Act 71 of 2008

Westonaria, 21 June 2017. Following the completion of the acquisition of
Stillwater Mining Company (incorporated in the State of Delaware, United
States)("Stillwater"), the Company is putting in place arrangements to
refinance the acquisition debt referred to in the notice issued on 20 March
2017 through various means which will require the Company to issue guarantees
and provide financial assistance as contemplated in Section 45 of the
Companies Act 71 of 2008 (the "Companies Act").

Accordingly, notice is hereby given that, in terms of the provisions of
Section 45(5) of the Companies Act, and pursuant to the special resolution
passed at the general meeting of the Company held on 23 May 2017, the board
of directors of the Company (the “Board”) has adopted resolutions (the
“Resolutions”) to issue such guarantees and provide such financial assistance
to subsidiaries of the Company and to related- and inter-related companies
and corporations, all of which constitute direct and/or indirect financial
assistance in terms of the provisions of Section 45(2) of the Companies Act.

Having considered all reasonable financial circumstances of the Company in
terms of and pursuant to the provisions of Section 45 as read with Section 4
of the Act, the Board satisfied itself that:

-   immediately after providing the financial assistance referred to above,
    the Company would satisfy the solvency and liquidity test contemplated in
    Section 4 of the Act;
-   all relevant conditions and restrictions relating to the granting of such
    financial assistance by the Company contained in the Company's memorandum
    of incorporation are satisfied; and
-   the terms and conditions on which such financial assistance is to be given
    are fair and reasonable to the Company.


ENDS


Contact
James Wellsted
SVP Investor Relations
Sibanye Gold Limited
+27 83 453 4014
james.wellsted@sibanyegold.co.za

Sponsor: J.P. Morgan Equities South Africa Proprietary Ltd
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