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Directors Dealings in Terms of the RBPlat Share Schemes
Royal Bafokeng Platinum Limited
Incorporated in South Africa)
Registration number 2008/015696/06
JSE share code: RBP ISIN: ZAE000149936
JSE bond code: RBPCB ISIN: ZAE000243853
("RBPlat" or "the Company")
DIRECTORS DEALINGS IN TERMS OF THE RBPLAT SHARE SCHEMES
In accordance with paragraph 3.63 of the JSE Limited Listings
Requirements (“the Listings Requirements”), security holders are advised
of the share dealings in respect of the RBPlat Bonus Share Plan (“BSP”),
the Retention Forfeitable Share Plan (“RFSP”), the Forfeitable Share Plan
(“FSP”)(collectively the “RBPlat Share Schemes”)and any rights offer
shares attached thereto.
On 1 April 2019, 64 167 BSP, 1 171 497 RFSP and 214 119 FSP scheme shares
vested respectively. Pursuant to the Company’s renounceable rights offer,
the Company has followed the rights held by the RBPlat Share Schemes
resulting in a total of 620 092 rights offer shares being acquired at the
rights offer price of R22 per share and as such an additional 14 259 BSP,
231 836 RFSP and 47 582 FSP rights offer shares will vest alongside the
principal shares mentioned above.
In respect of the FSP scheme shares issued in 2016, one third has vested
and, following the Total Shareholder Return (“TSR”) assessment, it is
confirmed that the vested one third of 214 119 (one third of 642 357) FSP
scheme shares will be forfeited as the TSR targets were not attained.
These FSP scheme shares will revert to the FSP scheme including the
related rights offer scheme shares attached thereto, being 47 582 rights
offer scheme shares.
Security holders are further advised that the management of the Company,
through various means including production, project construction and
value enhancing transactions have succeeded in delivering certain
strategic objectives of the Company. Having recognized that, the Chief
Executive Officer (“CEO”) of the Company acknowledges that even though
sufficient value has been added to the Company, that value has not been
fully realized in terms of concrete return to shareholders. As a result,
the CEO has decided to align with the shareholders and will not take up
the vesting rights to his RFSP awards which vested on 1 April 2019
including the rights offer shares attached thereto, being 223 812 RFSP
scheme shares in total. The CEO’s RFSP scheme shares will therefore
revert to the RFSP scheme.
The vested shares in respect of the CEO, an executive director of RBPlat
as well as directors of Royal Bafokeng Resources Proprietary Limited, a
major subsidiary of RBPlat and the Company Secretary are outlined below:
Executive Director: DS Phiri (CEO)
Date of vesting: 1 April 2019
Class of shares: Ordinary shares
Number of RFSP shares waived: 183 119 (Forfeited)
Number of Rights Offer shares waived: 40 693 (Forfeited)
Total number of RFSP waived: 223 812 (Forfeited)
Nature and extent of interest: Direct beneficial
RBR Director: NA Carr
Date of vesting: 1 April 2019
Class of shares: Ordinary shares
Number of RFSP shares vested: 103 809
Number of Rights Offer shares vested: 23 069
Total number of ordinary shares: 126 878
Nature and extent of interest: Direct beneficial
RBR Director: KV Tlhabanelo
Date of vesting: 1 April 2019
Class of shares: Ordinary shares
Number of RFSP shares vested: 46 303
Number of Rights Offer shares vested: 10 289
Total number of ordinary shares: 56 592
Nature and extent of interest: Direct beneficial
Company Secretary: LC Jooste
Date of Vesting: 1 April 2019
Class of shares: Ordinary shares
Number of RFSP shares vested: 28 145
Number of Rights Offer shares vested: 6 254
Total number of ordinary shares: 34 399
Nature and extent of interest: Direct beneficial
Prior clearance to deal in respect of each of the aforementioned dealings
was obtained.
Johannesburg
3 April 2019
JSE Sponsor
Merrill Lynch South Africa (Pty) Limited
For further enquiries, please contact:
Lester Jooste
Company Secretary
Tel: +27 (0)10 590 4519
Email: lester@bafokengplatinum.co.za
Date: 03/04/2019 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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