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SIBANYE STILLWATER LIMITED - Recommended all-share offer for Lonmin plc (Lonmin) by Sibanye Gold Limited

Release Date: 08/06/2020 08:00
Code(s): SSW     PDF:  
Wrap Text
Recommended all-share offer for Lonmin plc (“Lonmin”) by Sibanye Gold Limited

SIBANYE STILLWATER LIMITED
Registration Number 2014/243852/06
Incorporated in the Republic of South Africa
Share Code: SSW (JSE) and SBSW (NYSE)
ISIN Code: ZAE000259701
Issuer Code: SSW
(“Sibanye-Stillwater”)

Recommended all-share offer for Lonmin plc (“Lonmin”) by Sibanye Gold Limited:
Rule 19.6(c) confirmation with respect to stated post-offer intentions with regard
to Lonmin


Johannesburg, 8 June 2020. Sibanye-Stillwater announces that, further to the
completion of its recommended all-share offer for Lonmin, which was implemented
by means of a Court-sanctioned scheme of arrangement under Part 26 of the UK
Companies Act 2006 and which became effective in accordance with its terms on 7
June 2019, Sibanye Gold Limited has duly confirmed in writing to The UK Panel on
Takeovers and Mergers, in accordance with the requirements of Rule 19.6(c) of the
UK Code on Takeovers and Mergers (the “UK Code”), that Sibanye Gold Limited has
complied with the post-offer statements of intent made pursuant to Rules 2.7(c)(iv)
and 24.2 of the UK Code, as detailed in the scheme document published on 25 April
2019 (having been updated since first published in its announcement of 14 December
2017).

Ends.

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

Sponsor: J.P. Morgan Equities South Africa (Proprietary) Limited

FORWARD-LOOKING STATEMENTS
The information in this announcement 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.

All statements other than statements of historical facts included in this
announcement may be forward-looking statements. Forward-looking statements also
often use words such as “will”, “forecast”, “potential”, “estimate”, “expect”
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 those in the forward-
looking statements include, among others, our future business prospects;
financial positions; debt position and our ability to reduce debt leverage;
business, political and social conditions in the United States, South Africa,
Zimbabwe and elsewhere; plans and objectives of management for future
operations; our ability to obtain the benefits of any streaming arrangements or
pipeline financing; our ability to service our bond instruments; changes in
assumptions underlying Sibanye-Stillwater’s estimation of their current mineral
reserves and resources; the ability to achieve anticipated efficiencies and
other cost savings in connection with past, ongoing and future acquisitions, as
well as at existing operations; our ability to achieve steady state production
at the Blitz project; the success of Sibanye-Stillwater’s business strategy;
exploration and development activities; the ability of Sibanye-Stillwater to
comply with requirements that they operate in a sustainable manner; changes in
the market price of gold, PGMs and/or uranium; the occurrence of hazards
associated with underground and surface gold, PGMs and uranium mining; the
occurrence of labour disruptions and industrial action; the availability, terms
and deployment of capital or credit; changes in relevant government regulations,
particularly environmental, tax, health and safety regulations and new
legislation affecting water, mining, mineral rights and business ownership,
including any interpretations thereof which may be subject to dispute; the
outcome and consequence of any potential or pending litigation or regulatory
proceedings or other environmental, health and safety issues; power disruptions,
constraints and cost increases; supply chain shortages and increases in the
price of production inputs; fluctuations in exchange rates, currency
devaluations, inflation and other macro-economic monetary policies; the
occurrence of temporary stoppages of mines for safety incidents and unplanned
maintenance; the ability to hire and retain senior management or sufficient
technically skilled employees, as well as their ability to achieve sufficient
representation of historically disadvantaged South Africans in management
positions; failure of information technology and communications systems; the
adequacy of insurance coverage; any social unrest, sickness or natural or man-
made disaster at informal settlements in the vicinity of some of Sibanye-
Stillwater’s operations; and the impact of HIV, tuberculosis and the spread of
other contagious diseases, such as coronavirus (“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 Integrated Annual
Report 2019 and the Annual Report on Form 20-F for the fiscal year ended 31
December 2019.

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).

Date: 08-06-2020 08:00:00
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