SIBANYE STILLWATER LIMITED Successful conclusion of the Group's share
repurchase programme
Johannesburg, 5 October 2021: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is pleased to
advise shareholders that it has successfully concluded the on-market repurchase of its ordinary shares
up to, but not exceeding, 5% of its ordinary shares in issue ("Repurchase Programme"), in accordance
with the general authority granted by shareholders at the Group's annual general meeting held on
25 May 2021.
The Repurchase Programme was initiated on 2 June 2021 with a targeted completion date of
between 4 October 2021 and 6 April 2022 ("buyback period"). At the close of business on 4 October
2021, it has, in a series of unrelated transactions, cumulatively repurchased 5% or 147,700,000 of its
ordinary shares ("Repurchased shares") for an aggregate purchase price of R8,081,618,197
(excluding costs). The Repurchased shares have been, or will be, cancelled and their listing removed
between 9 June and about 14 October 2021.
In accordance with paragraph 5.72(h) of the JSE Listings Requirements, Sibanye-Stillwater appointed
Morgan Stanley & Co. International Plc. to conduct the buyback programme and make investment
decisions in relation to the Company's shares independently of, and uninfluenced by, the Company,
during the buyback period.
Sibanye-Stillwater CEO, Neal Froneman said: "We remain convinced that our shares are substantially
undervalued and are therefore pleased to have completed a very meaningful repurchase of our
shares. The buyback underpins our commitment to creating value for all stakeholders through
disciplined application of our capital allocation framework. This initiative will contribute significantly
to shareholder value in the months and years ahead."
advise shareholders that it has successfully concluded the on-market repurchase of its ordinary shares
up to, but not exceeding, 5% of its ordinary shares in issue ("Repurchase Programme"), in accordance
with the general authority granted by shareholders at the Group's annual general meeting held on
25 May 2021.
The Repurchase Programme was initiated on 2 June 2021 with a targeted completion date of
between 4 October 2021 and 6 April 2022 ("buyback period"). At the close of business on 4 October
2021, it has, in a series of unrelated transactions, cumulatively repurchased 5% or 147,700,000 of its
ordinary shares ("Repurchased shares") for an aggregate purchase price of R8,081,618,197
(excluding costs). The Repurchased shares have been, or will be, cancelled and their listing removed
between 9 June and about 14 October 2021.
In accordance with paragraph 5.72(h) of the JSE Listings Requirements, Sibanye-Stillwater appointed
Morgan Stanley & Co. International Plc. to conduct the buyback programme and make investment
decisions in relation to the Company's shares independently of, and uninfluenced by, the Company,
during the buyback period.
Sibanye-Stillwater CEO, Neal Froneman said: "We remain convinced that our shares are substantially
undervalued and are therefore pleased to have completed a very meaningful repurchase of our
shares. The buyback underpins our commitment to creating value for all stakeholders through
disciplined application of our capital allocation framework. This initiative will contribute significantly
to shareholder value in the months and years ahead."
Investor relations contact:
Email:
ir@sibanyestillwater.com
James Wellsted
Head of Investor
Relations Tel: +27 (0)
83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
2
FORWARD LOOKING STATEMENTS
The information in this document 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 and involve a number of risks and uncertainties
that could cause actual results to differ materially from those suggested by the forward-looking statements. As a
consequence, these forward-looking statements should be considered in light of various important factors, including those
set forth in this report.
All statements other than statements of historical facts included in this report may be forward-looking statements. Forward-
looking statements also often use words such as "will", "forecast", "potential", "estimate", "expect", "plan", "anticipate"
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 estimates or projections contained in the forward-looking statements include, without limitation, Sibanye-Stillwater's
future financial position, plans, strategies, objectives, capital expenditures, projected costs and anticipated cost savings,
financing plans, debt position and ability to reduce debt leverage; economic, business, political and social conditions in
South Africa, Zimbabwe, the United States and elsewhere; plans and objectives of management for future operations;
Sibanye-Stillwater's ability to obtain the benefits of any streaming arrangements or pipeline financing; the ability of Sibanye-
Stillwater to comply with loan and other covenants and restrictions and difficulties in obtaining additional financing or
refinancing; Sibanye-Stillwater's ability to service its bond instruments; changes in assumptions underlying Sibanye-Stillwater's
estimation of its current mineral reserves; any failure of a tailings storage facility; the ability to achieve anticipated
efficiencies and other cost savings in connection with, and the ability to successfully integrate, past, ongoing and future
acquisitions, as well as at existing operations; the ability of Sibanye-Stillwater to complete any ongoing or future acquisitions;
the success of Sibanye-Stillwater's business strategy and exploration and development activities; the ability of Sibanye-
Stillwater to comply with requirements that it operate in ways that provide progressive benefits to affected communities;
changes in the market price of gold and PGMs; the occurrence of hazards associated with underground and surface
mining; any further downgrade of South Africa's credit rating; a challenge regarding the title to any of Sibanye-Stillwater's
properties by claimants to land under restitution and other legislation; Sibanye-Stillwater's ability to implement its strategy
and any changes thereto; the occurrence of labour disruptions and industrial actions; the availability, terms and
deployment of capital or credit; changes in the imposition of regulatory costs and relevant government regulations,
particularly environmental, tax, health and safety regulations and new legislation affecting water, mining, mineral rights and
business ownership, including any interpretation thereof which may be subject to dispute; the outcome and consequence
of any potential or pending litigation or regulatory proceedings or environmental, health or safety issues; the concentration
of all final refining activity and a large portion of Sibanye-Stillwater's PGM sales from mine production in the United States
with one entity; the identification of a material weakness in disclosure and internal controls over financial reporting; the
effect of US tax reform legislation on Sibanye-Stillwater and its subsidiaries; the effect of South African Exchange Control
Regulations on Sibanye-Stillwater's financial flexibility; operating in new geographies and regulatory environments where
Sibanye-Stillwater has no previous experience; power disruptions, constraints and cost increases; supply chain shortages
and increases in the price of production inputs; the regional concentration of Sibanye-Stillwater's operations; 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; Sibanye-Stillwater's ability to hire and
retain senior management or sufficient technically skilled employees, as well as its ability to achieve sufficient representation
of historically disadvantaged South Africans in its management positions; failure of Sibanye-Stillwater's information
technology and communications systems; the adequacy of Sibanye-Stillwater's insurance coverage; social unrest, sickness
or natural or man-made disaster at informal settlements in the vicinity of some of Sibanye-Stillwater's South African-based
operations; and the impact of HIV, tuberculosis and the spread of other contagious diseases, such as the coronavirus
disease (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 2020 and the Annual Report on Form 20-F for the fiscal year ended
31 December 2020.
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). These
forward-looking statements have not been reviewed or reported on by the Group's external auditors.
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 and involve a number of risks and uncertainties
that could cause actual results to differ materially from those suggested by the forward-looking statements. As a
consequence, these forward-looking statements should be considered in light of various important factors, including those
set forth in this report.
All statements other than statements of historical facts included in this report may be forward-looking statements. Forward-
looking statements also often use words such as "will", "forecast", "potential", "estimate", "expect", "plan", "anticipate"
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 estimates or projections contained in the forward-looking statements include, without limitation, Sibanye-Stillwater's
future financial position, plans, strategies, objectives, capital expenditures, projected costs and anticipated cost savings,
financing plans, debt position and ability to reduce debt leverage; economic, business, political and social conditions in
South Africa, Zimbabwe, the United States and elsewhere; plans and objectives of management for future operations;
Sibanye-Stillwater's ability to obtain the benefits of any streaming arrangements or pipeline financing; the ability of Sibanye-
Stillwater to comply with loan and other covenants and restrictions and difficulties in obtaining additional financing or
refinancing; Sibanye-Stillwater's ability to service its bond instruments; changes in assumptions underlying Sibanye-Stillwater's
estimation of its current mineral reserves; any failure of a tailings storage facility; the ability to achieve anticipated
efficiencies and other cost savings in connection with, and the ability to successfully integrate, past, ongoing and future
acquisitions, as well as at existing operations; the ability of Sibanye-Stillwater to complete any ongoing or future acquisitions;
the success of Sibanye-Stillwater's business strategy and exploration and development activities; the ability of Sibanye-
Stillwater to comply with requirements that it operate in ways that provide progressive benefits to affected communities;
changes in the market price of gold and PGMs; the occurrence of hazards associated with underground and surface
mining; any further downgrade of South Africa's credit rating; a challenge regarding the title to any of Sibanye-Stillwater's
properties by claimants to land under restitution and other legislation; Sibanye-Stillwater's ability to implement its strategy
and any changes thereto; the occurrence of labour disruptions and industrial actions; the availability, terms and
deployment of capital or credit; changes in the imposition of regulatory costs and relevant government regulations,
particularly environmental, tax, health and safety regulations and new legislation affecting water, mining, mineral rights and
business ownership, including any interpretation thereof which may be subject to dispute; the outcome and consequence
of any potential or pending litigation or regulatory proceedings or environmental, health or safety issues; the concentration
of all final refining activity and a large portion of Sibanye-Stillwater's PGM sales from mine production in the United States
with one entity; the identification of a material weakness in disclosure and internal controls over financial reporting; the
effect of US tax reform legislation on Sibanye-Stillwater and its subsidiaries; the effect of South African Exchange Control
Regulations on Sibanye-Stillwater's financial flexibility; operating in new geographies and regulatory environments where
Sibanye-Stillwater has no previous experience; power disruptions, constraints and cost increases; supply chain shortages
and increases in the price of production inputs; the regional concentration of Sibanye-Stillwater's operations; 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; Sibanye-Stillwater's ability to hire and
retain senior management or sufficient technically skilled employees, as well as its ability to achieve sufficient representation
of historically disadvantaged South Africans in its management positions; failure of Sibanye-Stillwater's information
technology and communications systems; the adequacy of Sibanye-Stillwater's insurance coverage; social unrest, sickness
or natural or man-made disaster at informal settlements in the vicinity of some of Sibanye-Stillwater's South African-based
operations; and the impact of HIV, tuberculosis and the spread of other contagious diseases, such as the coronavirus
disease (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 2020 and the Annual Report on Form 20-F for the fiscal year ended
31 December 2020.
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). These
forward-looking statements have not been reviewed or reported on by the Group's external auditors.
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Sibanye Stillwater Limited published this content on 05 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 October 2021 12:08:03 UTC.
