Wrap Text
Strike update – AMCU refuses to co-operate with the verification process
Sibanye Gold Limited
Trading as Sibanye-Stillwater
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye-Stillwater” or “the Group” or “the Company”)
Strike update – AMCU refuses to co-operate with the verification process
Johannesburg, 16 January 2019. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL)
advises that following an application for leave to appeal by the Association of
Mineworkers and Construction Union (AMCU) of the judgment made by the Labour Court
(Court) on 21 December 2018 and confirmed by the Court on 8 January 2019, the union
affiliation verification process, facilitated by Commission for Conciliation,
Mediation and Arbitration (CCMA), which was due to continue today, has been suspended
pending the outcome of the appeal process.
Sibanye-Stillwater is confident that the that the verification exercise will confirm
that three other unions which signed the wage offer, represent more than 50% of
employees in the workplace, therefore supporting the extension of the offer in terms
of Section 23(1)(d) of the Labour Relations Act 66 of 1995 and will oppose AMCU’s
attempts to avoid the verification process.
Neal Froneman, CEO of Sibanye-Stillwater commented: “We are disappointed that AMCU
continues to pursue these obstructive actions and delay the conclusion of the ongoing
strike, while its members are suffering severe financial hardship as a consequence.
We are not surprised by AMCU’s behaviour and have considered other legal
alternatives, which we will be pursuing.”
Please refer to https://protect-za.mimecast.com/s/yVuJCX6VV4snrQELi6pI7-
?domain=soundcloud.com for a media sound clip by the spokesperson, James Wellsted.
Contacts:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the “safe harbour”
provisions of the United States Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact included in this announcement may be forward-looking
statements. Forward-looking statements may be identified by the use of words such as “will”,
“would”, “expect”, “may”, “could” “believe”, “anticipate”, “target”, “estimate” and words of
similar meaning. These forward-looking statements, including among others, those relating to
our future business prospects, financial positions, ability to reduce debt leverage, business
strategies, plans and objectives of management for future operations and the anticipated benefits
and synergies of transactions, are necessarily estimates reflecting the best judgement of our
senior management. Readers are cautioned not to place undue reliance on such statements. Forward
looking statements involve a number of known and unknown risks, uncertainties and other factors,
many of which are difficult to predict and generally beyond the control of Sibanye-Stillwater
that could cause Sibanye-Stillwater’s actual results and outcomes to be materially different
from historical results or from any future results expressed or implied by such forward-looking
statements. As a consequence, these forward-looking statements should be considered in light of
various important factors, including those set forth in the Group’s Annual Integrated Report
and Annual Financial Report, published on 30 March 2018, and the Group’s Annual Report on Form
20-F filed by Sibanye-Stillwater with the Securities and Exchange Commission on 2 April 2018
(SEC File no. 001-35785). These forward-looking statements speak only as of the date of this
announcement. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or
revise these forward-looking statements, save as required by applicable law.
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