Constitutional Court of South Africa dismisses applications brought by Greater Lonmin Community
(firmenpresse) -
Johannesburg, 5 September 2019: Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL - https://www.commodity-tv.net/c/search_adv/?v=299128 ) is pleased to announce that the Constitutional Court of South Africa (the Con Court) has today, delivered judgment on the applications for leave to appeal and direct access by the Greater Lonmin Community (GLC), in which the GLC sought to essentially set aside the acquisition of Lonmin Plc (Lonmin) by Sibanye-Stillwater. The Con Court dismissed, without costs, the application for leave to appeal as it bore no reasonable prospects of success, and dismissed the application for direct access as the GLC had not made a case that was sufficiently in the interests of justice for it to be heard directly by the Con Court.
The effect of the Con Court order is that the judgment of the Competition Appeal Court (which, in essence, endorsed the judgment of the Competition Tribunal) remains in force. This now brings an end to all proceedings.
CEO, Neal Froneman commenting on the positive Con Court ruling said: We are extremely pleased with the judgment made by the Con Court today, which supports our view that the GLCs claims had been properly dealt with before by the Competition Appeal Court and the Competition Tribunal and were frivolous. It is unfortunate that certain stakeholders seem unable to recognise the plight that faced the Lonmin operations and, instead of engaging with us, continue to pursue spurious and expensive legal alternatives. We are sensitive to the needs of our communities and remain committed to ongoing engagement and to delivering on Lonmins Social and Labour Plan commitments and recorded in the conditions handed down by the Competition Tribunal and reiterated by the Competition Appeal Court.
Ends.
Investor relations contacts:
Email: ir(at)sibanyestillwater.com
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch
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 Gold Limiteds (trading as Sibanye-Stillwater) (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 and in the Groups Annual Integrated Report and Annual Financial Report, published on 29 March 2019, and the Groups Annual Report on Form 20-F filed by Sibanye-Stillwater with the Securities and Exchange Commission on 5 April 2019 (SEC File no. 001-35785). Readers are cautioned not to place undue reliance on such statements.
The important factors that could cause Sibanye-Stillwaters 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 Kingdom, 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 (High Yield Bonds and Convertible Bonds); changes in assumptions underlying Sibanye-Stillwaters 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-Stillwaters 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-Stillwaters operations; and the impact of HIV, tuberculosis and other contagious diseases.
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).
Sibanye Gold Limited
Trading as Sibanye-Stillwater
Reg. 2002/031431/06
Incorporated in the Republic of South Africa
Share code: SGL
ISIN - ZAE000173951
Issuer code: SGL
(Sibanye-Stillwater,the Company and/or the Group)
Business Address:
Libanon Business Park
1 Hospital Street
(Off Cedar Ave)
Libanon, Westonaria, 1780
Postal Address:
Private Bag X5
Westonaria, 1780
Tel +27 11 278 9600
Fax +27 11 278 9863
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Sibanye ist der größte eigenständige Goldproduzent Südafrikas und einer der 10 größten Goldproduzenten weltweit.
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Datum: 05.09.2019 - 11:13 Uhr
Sprache: Deutsch
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