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Notice to shareholders in terms of section 45(5) of the Companies Act
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
(“Sibanye-Stillwater”)
Website: www.sibanyestillwater.com
Notice to shareholders in terms of section 45(5) of the Companies Act
Johannesburg, 5 July 2023: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is
pleased to announce that its subsidiary, New Century Resources Limited, has
restructured its pre-existing environmental bond and trading facilities on improved
terms, and implemented a new working capital facility (the “Restructured
Facilities”) with Citibank N.A. The Restructured Facilities will release security,
including cash deposits, reduce financing costs and enhance operational
flexibility.
The process of fully integrating the delisted New Century Resources Limited (NCR)
with Sibanye-Stillwater is well underway, as the NCR business is restructured to
lower costs and improve effectiveness.
As required in terms of the provisions of Section 45(5) of the Companies Act 71 of
2008 (the “Companies Act”), Sibanye-Stillwater advises that pursuant to the special
resolution passed at the general meeting of the Company held on 26 May 2023 (the
“General Meeting”), the board of directors of the Company (the “Board”) has adopted
a resolution to guarantee the indebtedness of New Century Resources Limited under
the Restructured Facility agreements, which guarantee constitutes the giving of
direct and/or indirect financial assistance to related and inter-related companies
and corporations of the Company (the “Financial Assistance”). Shareholders are
notified for purposes of section 45(5)(a) of the Act that the Financial Assistance
exceeds one-tenth of 1% of the Company’s net worth.
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
Companies 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 Companies 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
About Sibanye-Stillwater
Sibanye-Stillwater is a multinational mining and metals processing Group with a
diverse portfolio of mining and processing operations, projects and investments
across five continents. The Group is also one of the foremost global recyclers of
PGM autocatalysts and has interests in leading mine tailings retreatment operations.
Sibanye-Stillwater has established itself as one of the world’s largest primary
producers of platinum, palladium, and rhodium and is also a top tier gold producer.
It produces and refines iridium and ruthenium, nickel, chrome, copper and cobalt.
The Group has recently begun to build and diversify its asset portfolio into battery
metals mining and processing and is increasing its presence in the circular economy
by growing and diversifying its recycling and tailings reprocessing operations
globally. For more information refer to www.sibanyestillwater.com.
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Executive Vice President: Investor Relations and Corporate Affairs
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com
YouTube: https://www.youtube.com/@sibanyestillwater/videos
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
DISCLAIMER
FORWARD LOOKING STATEMENTS
The information in this document 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 (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
and involve a number of risks and uncertainties that could cause actual results to differ materially from those
suggested by the forward-looking statements. As a consequence, these forward-looking statements should be
considered in light of various important factors, including those set forth in this announcement.
All statements other than statements of historical facts included in this document may be forward-looking
statements. Forward-looking statements also often use words such as “will”, “would”, “expect”, “forecast”,
“potential”, “may”, “could”, “believe”, “aim”, “anticipate”, “target”, “estimate” 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. 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 estimates or projections contained in the forward-looking statements include, without limitation,
Sibanye-Stillwater’s future financial position, plans, strategies, objectives, capital expenditures, projected
costs and anticipated cost savings, financing plans, debt position and ability to reduce debt leverage; economic,
business, political and social conditions in South Africa, Zimbabwe, the United States and elsewhere; plans and
objectives of management for future operations; Sibanye-Stillwater’s ability to obtain the benefits of any
streaming arrangements or pipeline financing; the ability of Sibanye-Stillwater to comply with loan and other
covenants and restrictions and difficulties in obtaining additional financing or refinancing; Sibanye-
Stillwater’s ability to service its bond instruments; changes in assumptions underlying Sibanye-Stillwater’s
estimation of its Mineral Resources and Mineral Reserves; any failure of a tailings storage facility; the ability
to achieve anticipated efficiencies and other cost savings in connection with, and the ability to successfully
integrate, past, ongoing and future acquisitions, as well as at existing operations; the ability of Sibanye-
Stillwater to complete any ongoing or future acquisitions; the success of Sibanye-Stillwater’s business strategy
and exploration and development activities, including any proposed, anticipated or planned expansions into the
battery metals or adjacent sectors and estimations or expectations of enterprise value (including the Rhyolite
Ridge project); the ability of Sibanye-Stillwater to comply with requirements that it operate in ways that
provide progressive benefits to affected communities; changes in the market price of gold, PGMs, battery metals
(e.g., nickel, lithium, copper and zinc) and the cost of power, petroleum fuels, and oil, among other commodities
and supply requirements; the occurrence of hazards associated with underground and surface mining; any further
downgrade of South Africa’s credit rating; the impact of South Africa's greylisting; a challenge regarding the
title to any of Sibanye-Stillwater’s properties by claimants to land under restitution and other legislation;
Sibanye-Stillwater’s ability to implement its strategy and any changes thereto; the outcome of legal challenges
to the Group’s mining or other land use rights; the occurrence of labour disputes, disruptions and industrial
actions; the availability, terms and deployment of capital or credit; changes in the imposition of industry
standards, regulatory costs and relevant government regulations, particularly environmental, sustainability,
tax, health and safety regulations and new legislation affecting water, mining, mineral rights and business
ownership, including any interpretation thereof which may be subject to dispute; the outcome and consequence of
any potential or pending litigation or regulatory proceedings, including in relation to any environmental, health
or safety issues; failure to meet ethical standards, including actual or alleged instances of fraud, bribery or
corruption; the effect of climate change or other extreme weather events on Sibanye-Stillwater’s business; the
concentration of all final refining activity and a large portion of Sibanye-Stillwater’s PGM sales from mine
production in the United States with one entity; the identification of a material weakness in disclosure and
internal controls over financial reporting; the effect of US tax reform legislation on Sibanye-Stillwater and
its subsidiaries; the effect of South African Exchange Control Regulations on Sibanye-Stillwater’s financial
flexibility; operating in new geographies and regulatory environments where Sibanye-Stillwater has no previous
experience; power disruptions, constraints and cost increases; supply chain disruptions and shortages and
increases in the price of production inputs; the regional concentration of Sibanye-Stillwater’s operations;
fluctuations in exchange rates, currency devaluations, inflation and other macro-economic monetary policies; the
occurrence of temporary stoppages or precautionary suspension of operations at its mines for safety or
environmental incidents (including natural disasters) and unplanned maintenance; Sibanye-Stillwater’s ability to
hire and retain senior management and employees with sufficient technical and/or production skills across its
global operations necessary to meet its labour recruitment and retention goals, as well as its ability to achieve
sufficient representation of historically disadvantaged South Africans in its management positions; failure of
Sibanye-Stillwater’s information technology, communications and systems; the adequacy of Sibanye-Stillwater’s
insurance coverage; social unrest, sickness or natural or man-made disaster at informal settlements in the
vicinity of some of Sibanye-Stillwater’s South African-based operations; and the impact of HIV, tuberculosis and
the spread of other contagious diseases, such as the coronavirus disease (COVID-19).
Further details of potential risks and uncertainties affecting Sibanye-Stillwater are described in Sibanye-
Stillwater’s filings with the Johannesburg Stock Exchange and the United States Securities and Exchange
Commission, including the 2022 Integrated Report and the annual report on Form 20-F for the fiscal year ended 31
December 2022.
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). These forward-looking statements have not been reviewed or reported on by the Group’s external
auditors.
WEBSITES
References in this document to information on websites (and/or social media sites) are included as an aid to
their location and such information is not incorporated in, and does not form part of, this report.
Date: 05-07-2023 02:08:00
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