Sibanye Stillwater Limited (JSE:SSW) made an offer to acquire 80.11% stake in New Century Resources Limited (ASX:NCZ) from The Goldman Sachs Group, Inc. (NYSE:GS), Luxor Capital Group, LP, Thebes Offshore Master Fund, LP, managed by Luminus Management, LLC and others for approximately AUD 120 million on February 21, 2023. As per the terms of the offer, the offer per share is AUD 1.1. Sibanye will use its internal resources and may ultimately use third party debt financing to fund part of the offer amount. If Sibanye has achieved a threshold of 90% or more of the New Century Shares on issue, it is intended that Sibanye would proceed with the compulsory acquisition of the outstanding New Century Shares in accordance with the corporations act. FIRB, SARB approved the acquisition. The board of New Century Resources Limited unanimously recommends the offer. As of March 7, 2023, the tender offer has commenced and is expected to close on April 11, 2023. As on March 30, 2023, Tender offer has become unconditional. As of April 28, 2023. Offer is expected to be complete in early May, 2023. As of May 2, 2023. Offer is expected to be complete on May 3, 2023.

Ashurst Australia acted as a legal advisor, Computershare Investor Services Pty Limited acted as a registrar, and Citigroup Global Markets Limited acted as a financial advisor to Sibanye Stillwater. Allens acted as a legal advisor, CIBC Capital Markets acted as a financial advisor to New Century Resources.

Sibanye Stillwater Limited (JSE:SSW) completed the acquisition of 80.11% stake in New Century Resources Limited (ASX:NCZ) from The Goldman Sachs Group, Inc. (NYSE:GS), Luxor Capital Group, LP, Thebes Offshore Master Fund, LP, managed by Luminus Management, LLC and others on March 30, 2023.