Sibanye Gold Limited
Trading as Sibanye-Stillwater
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye-Stillwater” or “the Group” or “the Company”)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY,
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION
Response to press speculation and no increase statement of the proposed Lonmin acquisition
Johannesburg, 20 May 2019. On 25 April 2019, Lonmin and Sibanye-Stillwater announced
that they had reached agreement on the terms of an increased recommended all-share offer
to be made by Sibanye-Stillwater for the entire issued and to be issued ordinary share
capital of Lonmin (the “Increased Offer”). Under the terms of the Increased Offer, Lonmin
Shareholders will be entitled to receive for each Lonmin Share one New Sibanye-Stillwater
Share.
Earlier today Sibanye-Stillwater and Lonmin jointly announced that the Competition Appeal
Court of South Africa (the "CACSA") has dismissed the appeal by the Association of
Mineworkers and Construction Union ("AMCU") with costs, and has therefore upheld the
South African Competition Tribunal's decision of 21 November 2018, approving the Offer
subject to certain specific conditions.
Sibanye-Stillwater notes the press speculation today regarding the terms of its Increased
Offer, and, as a result and in accordance with the UK Takeover Code, confirms that the
Increased Offer is final and will not be increased.
The Transaction remains subject to the satisfaction or (where applicable) waiver of the
conditions set out in the announcement of the Transaction by Lonmin and Sibanye-
Stillwater on 14 December 2017 and in the scheme circular published by Lonmin on 25 April
2019 (the "Lonmin Scheme Circular"). Such conditions include, amongst others, the
approvals of Lonmin and Sibanye-Stillwater shareholders and sanction by the courts of
England and Wales.
Sibanye-Stillwater reserves the right to set aside the no increase statement if a
competitive situation arises under the circumstances prescribed by Note 3 under Rule 32.2
of the UK Takeover Code.
Defined terms used but not defined in this announcement have the meanings set out in the
Lonmin Scheme Circular.
For more information on the proposed acquisition of Lonmin by Sibanye-Stillwater, please
refer to https://www.sibanyestillwater.com/investors/transactions/lonmin.
Ends.
Enquiries:
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Email: ir@sibanyestillwater.com