News IRW-News: Sibanye Gold Limited: Sibanye-Stillwater extends its industry-leading surface...

IRW-News: Sibanye Gold Limited: Sibanye-Stillwater extends its industry-leading surface mining partnership with DRDGOLD | 13/1/20


IRW PRESS: Sibanye gold Limited: Sibanye-Stillwater extends its industry-leading surface mining partnership with DRDGOLD

Johannesburg, 10th January 2020: Sibanye-Stillwater – is pleased to announce that it has announced its option to subscribe to additional ordinary shares in DRDGOLD Limited (” DRDGOLD “) to achieve a 50.1% interest in DRDGOLD (the” option shares “). The option was exercised on January 8, 2020 as part of the DRDGOLD option agreement between Sibanye-Stillwater and DRDGOLD, which was concluded on November 22, 2017 and approved by the DRDGOLD shareholders on March 28, 2018.

The subscription price for each option share is R6.46 per share, payable in cash, which is a 22.69% discount on the closing price of R8.35 per DRDGOLD share and a 10% discount on the volume-weighted 30-day average price DRDGOLD shares in JSE Limited (“JSE”) the day before the date of exercise of the option, ie on January 7, 2020. Exercising the option increases Sibanye-Stillwater’s stake in DRDGOLD from 38.05% (265,000,000 shares) to 50.1% (433,158,944 shares).

The option shares are expected to be listed on the JSE on January 22, 2020. DRDGOLD will continue to be listed on the JSE (ticker code: DRD) with a secondary listing on the NYSE in the form of American Depository Receipts (ticker code: DRD).

Neal Froneman, CEO of Sibanye-Stillwater, commented on the exercise of the option as follows: “With the takeover of the majority in DRDGOLD, a leading company in the field of opencast mining and processing technology, we continue to create values ​​for all stakeholders in line with our vision are pleased that the value of our first stake has increased by 147% in just 17 months.The DRDGOLD team has a proven track record and has successfully implemented the Far West Rand Recoveries project after achieving its planned capacity of 500,000 tons per month for phase 1. We look forward to further added value when DRDGOLD has completed the detailed planning and the possible implementation of phase 2 “.

This is a voluntary announcement by Sibanye-Stillwater, as the exercise of the option falls under the 5% threshold of categorizing transactions in accordance with the JSE Listings Requirements.

The End


Email: [email protected]

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

[email protected]


The information in this announcement may include forward-looking statements within the meaning of the Safe Harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements, including but not limited to, those relating to the financial condition of Sibanye Gold Limited (which operates as Sibanye-Stillwater) (“Sibanye-Stillwater” or the “Corporation”), business strategies, plans and management goals for future operations are necessarily estimates that reflect the best judgment of the management and directors of Sibanye-Stillwater.

All statements that are not based on historical facts and are contained in this release can be forward-looking statements. Forward-looking statements often use words such as “will”, “forecast”, “potential”, “estimate”, “expect” and words with a similar meaning. Forward-looking statements are inherently subject to risks and uncertainties as they relate to future events and circumstances and should be viewed in the light of several important factors, including those set out in this disclaimer and in the Group’s integrated annual and annual financial statements dated March 29 2019 and the Group’s annual report on Form 20-F, filed by Sibanye-Stillwater on April 5, 2019 with the Securities and Exchange Commission (SEC file number 001-35785). Readers are cautioned not to place undue reliance on such statements.

The Group undertakes no obligation to update or revise these forward-looking statements to reflect events or circumstances after the date of this document or the occurrence of unforeseen events.

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