Sibanye-Stillwater implements transaction with DRDGOLD Limited
(PresseBox) - Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL - http://www.commodity-tv.net/c/search_adv/?v=298294) is pleased to announce that all the conditions precedent to the DRDGOLD Limited (DRDGOLD) transaction have been fulfilled and that the transaction was implemented yesterday, 31 July 2018. Shareholders are referred to the announcement released on Wednesday, 22 November 2017 (Transaction Announcement), in terms of which, shareholders were advised that, inter alia, Sibanye-Stillwater would exchange selected surface gold processing assets and tailings storage facilities (TSFs), for newly issued DRDGOLD shares (the ?Transaction?). Unless otherwise indicated, capitalised words and terms contained in this announcement shall bear the same meanings ascribed thereto in the Transaction Announcement.
Sibanye-Stillwater now owns 38.05% (265 000 000 DRDGOLD ordinary shares) of the issued share capital of DRDGOLD, currently worth R895.7 million*. In addition, pursuant to the Transaction, Sibanye-Stillwater has an option to subscribe for the Option Shares within 24 months from the date of implementation of the Transaction to further attain up to a 50.1% shareholding in DRDGOLD at a 10% discount to the 30 day volume weighted average traded price of a DRDGOLD share on the day prior to the date of exercise of the option.
Commenting on the Transaction, Neal Froneman, CEO of Sibanye-Stillwater, said: ?We are excited about the partnership with DRDGOLD which unlocks value for our under-utilised surface infrastructure and TSFs, while retaining upside to the West Rand Tailings Retreatment Project and future growth in DRDGOLD. Further value will be derived from the future development of this long life surface reclamation project, which will benefit all of our stakeholders, particularly those in the region.?
For more information about this transaction, refer to https://www.sibanyestillwater.com/investors/transactions/drdgold.
*DRDGOLD?s closing share price of R3.38 as at 31 July 2018 multiplied by the 265 million shares issued to Sibanye-Stillwater.
Contacts:
Email: ir(at)sibanyestillwater.com
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch
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.
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Datum: 01.08.2018 - 01:47 Uhr
Sprache: Deutsch
News-ID 1539226
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