Wrap Text
Resignation of Group Chairman, Mr Sello Moloko and appointment of Dr Vincent Maphai
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”)
Resignation of Group Chairman, Mr Sello Moloko and appointment of Dr Vincent Maphai
Johannesburg, 29 May 2019: In accordance with Section 3.59 of the JSE Limited Listings
Requirements, the Board of Sibanye-Stillwater (JSE: SGL and NYSE: SBGL) advises that
the current Board Chairman, Mr Sello Moloko has tendered his resignation, effective 30
September 2019, in order to focus on his other responsibilities and the ongoing
development of the Thesele Group, which he founded in 2005.
Mr Moloko has served as Chairman of the Group since it was established in February 2013
and has overseen the growth and development of the Group, from a South African gold
producer, into a leading international precious metals company and the Board would like
to thank him for his sage counsel and guidance during this transformative period in the
Company’s history.
Mr Moloko commented: “It has been my privilege to lead and participate in the evolution
of Sibanye-Stillwater, from its humble beginnings six years ago, into the unique,
globally diversified precious metals company of today. Having overcome some significant
challenges in the last 18 months, and with the successful conclusion of the shareholder
vote to approve the Lonmin acquisition yesterday, I feel confident that the Group is
poised to deliver on its vision of creating superior value for all of our stakeholders
and believe that this is an opportune time to hand the Chairman’s baton on. I wish to
thank my Board colleagues and the management of Sibanye-Stillwater, for the support and
camaraderie and wish them all the best for the next stage in the development of the
Company.”
The Board is also pleased to announce the appointment of Dr Vincent Maphai, who will
succeed Mr Moloko as Chairman and Non-executive Independent director, and will be
joining the Board as Chairman designate effective from 1 June 2019. Dr Maphai’s
appointment follows an extensive search process and allows for a suitable handover
period in order to ensure continuity. The Board would like to congratulate and welcome
Dr Maphai and looks forward to his valuable contribution to the ongoing development of
Sibanye-Stillwater.
Brief resume of Dr Maphai
Dr Maphai has a distinguished career in academia, the private sector and public service.
Until 30 June 2018, when he retired from full-time work after 48 years, he was a
visiting-Professor at Williams College in Massachusetts. Prior to that served as
Corporate Affairs and Transformation Director at the South African Breweries Limited
for 10 years after a five year period as Chairman of BHP Billiton Ltd, South Africa.
Dr Maphai has also been involved in various public policy projects and roles including
the National Planning Commission, the Presidential Review Commission (Chair), and the
South African Broadcasting Corporation (SABC). He served on the Councils of the
University of KwaZulu-Natal (Chair), and the University of South Africa. In an academic
career spanning two decades, he has studied and taught at various universities both
locally and internationally.
Ends.
Contact:
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 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.
Date: 29/05/2019 01:43:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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