Sibanye-Stillwater files with competition commission

Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) and Lonmin Plc (“Lonmin”) advise that Sibanye- Stillwater has filed a submission with the South African competition authorities, with regard to the proposed acquisition of Lonmin which was announced on 14 December 2017 (the “Proposed Transaction”). As is required by the South African Competition Act No. 89 of 1998, the required stakeholders have also been duly notified. Sibanye-Stillwater and Lonmin remain fully committed to the Proposed Transaction which they continue to expect to close in the second half of this year. Neal Froneman, CEO of Sibanye-Stillwater, and Ben Magara, CEO of Lonmin, commenting on the filing, said: “We are delighted to have filed the submission with the South African competition authorities. The Proposed Transaction remains in the best interest of stakeholders and will create a leading mine-to-market producer of PGMs in South Africa.” 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. Additional Information The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to the laws of other jurisdictions should inform themselves of, and observe, any applicable requirements. Any failure to comply with applicable requirements may constitute a violation of the securities law of any such jurisdiction. This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. Notes to editors Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is one of the world's largest primary producers of PGMs. These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery. Lonmin’s operations are situated in the Bushveld Igneous Complex in South Africa, where more than 70% of known global PGM resources are located. The Company creates value through mining, refining and marketing PGMs and has a vertically integrated operational structure - from mine to market. Underpinning the operations is the Shared Services function which provides high quality levels of support and infrastructure across the operations. For further information please visit our website: http://www.lonmin.com

Comments

Popular posts from this blog

thyssenkrupp helps disadvantaged schools step into the digital age

Atterbury develops new Cape Town showroom for WeBuyCars

Lafarge South Africa CEO Ken MacLean to leave the LafargeHolcim Group