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Labour Court declares the extension of the wage agreement to AMCU, valid and lawful
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”)
Labour Court declares the extension of the wage agreement to AMCU, valid and
lawful
Johannesburg, 20 March 2019: Sibanye-Stillwater (JSE: SGL and NYSE: SBGL) is
pleased to advise that it has today received judgement from the Labour Court
(the Court), which declares that the extension, on 18 February 2019, of the gold
wage agreement reached with the National Union of Mineworkers (NUM), UASA and
Solidarity, to AMCU and other non-unionised employees, is valid and lawful in
terms of Section 23(1)(d) of the Labour Relations Act, No 66 of 1995 (S23(1)(d)).
The agreement is applicable to non-parties of the agreement.
As a result of the legally binding nature of the extension agreement, the Company
will now commence and participate with an independent verification process, to
confirm the various unions’ level of representivity required to implement the
extension agreement.
Neal Froneman, CEO of Sibanye-Stillwater comments: “We are extremely pleased
with the ruling provided by the Labour Court. This judgment provides clarity
to all parties on the legal standing of the application of the extension of the
wage agreement to AMCU in terms of Section 23(1)(d). Furthermore, it provides
a clear path forward to resolving the ongoing strike in a manner which does not
compromise our values or undermine our other stakeholders, who have also been
negatively impacted by the AMCU strike action. We urge AMCU to respect the
ruling and allow due processes to be followed in the interest of all parties
and a peaceful resolution to this strike.”
Contact:
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Email: ir@sibanyestillwater.com
Sponsor: J.P. Morgan Equities South Africa (Proprietary) Limited
FORWARD LOOKING STATEMENTS
This announcement includes “forward-looking statements” within the meaning of
the “safe harbour” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be identified by
the use of words such as “target”, “will”, “forecast”, “expect”, “potential”,
“intend”, “estimate”, “anticipate”, “can” and other similar expressions that
predict or indicate future events or trends or that are not statements of
historical matters. The forward-looking statements set out in this
announcement 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. These forward-looking statements speak only as of the date of this
announcement. Sibanye-Stillwater undertakes no obligation to update publicly
or release any revisions to these forward-looking statements to reflect events
or circumstances after the date of this announcement or to reflect the
occurrence of unanticipated events, save as required by applicable law.
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