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SIBANYE GOLD LIMITED - DRDGOLD shareholders approve the transaction with Sibanye-Stillwater

Release Date: 28/03/2018 14:26
Code(s): SGL     PDF:  
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DRDGOLD shareholders approve the transaction with Sibanye-Stillwater

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”)


DRDGOLD shareholders approve the transaction with Sibanye-Stillwater

Johannesburg, 28 March 2018. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL)
shareholders are referred to the announcement released on 22 November 2017
(“Transaction Announcement”), and unless otherwise indicated, capitalised words and
terms contained in this announcement shall bear the same meanings ascribed thereto
in the Transaction Announcement.

In terms of the Transaction Announcement, shareholders were advised of, inter alia,
the Transaction in terms of which Sibanye-Stillwater will exchange the Selected
Assets for c.265 million newly issued DRDGOLD Limited (“DRDGOLD”) shares, resulting
in Sibanye-Stillwater holding 38% of the issued share capital of DRDGOLD, post the
Transaction and be granted a call option to subscribe for the Option Shares during
the Option Period so as to attain a 50.1% shareholding in DRDGOLD.

Sibanye-Stillwater is pleased to announce that today (Wednesday, 28 March 2018), the
Transaction was approved through the passing of all the required resolutions by
DRDGOLD shareholders, which included a waiver of the obligation of Sibanye-Stillwater
to make a mandatory offer to the remaining shareholders of DRDGOLD in terms of the
provisions of regulation 86 of the Companies Regulations, 2011 (“Waiver”). An
application will be made to the Takeover regulation panel to obtain a ruling with
regards to the Waiver.

The implementation of the Transaction remains subject to, and conditional on, inter
alia, the requisite environmental authorisations and approvals to operate the
Selected Assets having been granted to Sibanye-Stillwater. Sibanye-Stillwater
shareholders will be advised in due course as to the fulfilment of all outstanding
conditions precedent to the Transaction and it is anticipated that this will occur
during the second quarter of 2018.

“We are thrilled to be one step closer to realising immediate value for our
underutilised surface infrastructure and tailings storage facilities, while
retaining upside to the West Rand Tailings Retreatment Project and future growth in
DRDGOLD”, Sibanye-Stillwater CEO, Neal Froneman commented.


Investor relations contact:
James Wellsted
Head of Investor Relations
Tel: +27 (0) 83 453 4014
Email: ir@sibanyestillwater.com

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
Corporate Advisor: Qinisele Resources Proprietary Limited
South African Legal Advisor: Werksmans Attorneys
Ends.


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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