Announcements 2020

Listing of new financial instrument – NHM017

The JSE Limited (“JSE”) has granted approval for the listing of NHM017 Senior Unsecured Floating Rate Notes (“Notes”), under the Northam Platinum Limited ZAR10 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as amended and / or supplemented from time to time (“Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 13 May 2020.


The JSE Limited (“JSE”) has granted approval for the listing of NHM017 Senior Unsecured Floating Rate Notes (“Notes”), under the Northam Platinum Limited ZAR10 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as amended and / or supplemented from time to time (“Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 13 May 2020.

The details pertaining to NHM017 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR5 325 748 994.00 including this issue
Instrument Code: NHM017
Nominal Amount: ZAR494 900 000.00
Issue Price: 100%
Interest Rate: 3 Month ZAR-JIBAR plus 240 bps, being 6.942% on the first Interest rate Determination Date (3 Month ZAR-JIBAR as at 8 May 2020 of 4.542% plus 240 bps)
Interest Rate Determination Date(s):       26 August 2020 and 26 November 2020 (or the first Business Day of each Interest Period), with the first Interest Rate Determination Date being 8 May 2020
Coupon Rate Indicator: Floating
Issue Date: 13 May 2020
Interest Commencement Date: 13 May 2020
Maturity Date: 26 February 2021
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17h00 on 15 August 2020, 15 November 2020 and 15 February 2021 or if such day is not a Business Day, the Business Day before each Books Closed Period
Books Closed Period: From 16 August 2020 to 25 August 2020, 16 November 2020 to 25 November 2020 and 16 February 2021 to 25 February 2021 (all dates inclusive) or if any early redemption occurs, 10 Days prior to the actual Redemption Date
Interest Payment Date(s): 26 August 2020, 26 November 2020 and 26 February 2021 or, if such day is not a Business Day, the Business Day on which interest will be paid, as determined in accordance with the Applicable Business Day Convention
ISIN: ZAG000167891
Business Day Convention: Following Business Day
Other: The applicable pricing supplement (“APS”) contains additional terms and conditions to the Terms and Conditions as contained in the Programme (“Additional Terms and Conditions”)
Summary of Additional Terms and Conditions: The Additional Terms and Conditions pertain to the applicable guarantee and the amendment of Condition 16.1 (Senior Notes) by including additional Events of Default in terms of Condition 16.1.1.9 (Other) of the Terms and Conditions. Investors should refer to Appendix “A” of the APS for full details of the Additional Terms and Conditions, available on Northam’s website: https://www.northam.co.za/downloads/send/96-files/1282-applicable-pricing-supplement-nhm017

The Notes will be immobilised in the Central Securities Depository (CSD) and settlement will take place electronically in terms of JSE Rules.

Northam noteholders are referred to the announcement published by the Company on SENS on Monday, 11 May 2020 (the “Announcement”) pertaining to, inter alia, a note switch whereby the maturity dates of certain notes will be extended through a purchase and cancellation of such notes and the simultaneous issue of new notes under the Programme with longer maturity dates, for the same nominal amount, as detailed in the Announcement (the “Note Switch”). The issue and listing of NHM017 pertains to the Note Switch.

Johannesburg
12 May 2020

Corporate Advisor and Debt Sponsor to Northam
One Capital

Sole Arranger, Dealer and Debt Sponsor to Northam in respect of the Notes
One Capital

Attorneys to Northam, the Arranger and the Dealer in respect of the Notes
Bowman Gilfillan Inc.

Partial capital redemption – NHM006, NHM007, NHM010, NHM011 AND NHM012

Northam noteholders are hereby advised, in accordance with the Terms and Conditions of the Northam Platinum Limited ZAR10 000 000 000 Domestic Medium Term Note Programme (dated 3 August 2012, as amended and / or supplemented from time to time) (the “Programme”), of the reduction in the nominal amount of notes in bond series NHM006, NHM007, NHM010, NHM011 and NHM012 (the “Notes”), guaranteed by Booysendal Platinum Proprietary Limited, by an aggregate amount of R469.3 million (the “Purchased Notes”), with effect from 11 May 2020.


Northam noteholders are hereby advised, in accordance with the Terms and Conditions of the Northam Platinum Limited ZAR10 000 000 000 Domestic Medium Term Note Programme (dated 3 August 2012, as amended and / or supplemented from time to time) (the “Programme”), of the reduction in the nominal amount of notes in bond series NHM006, NHM007, NHM010, NHM011 and NHM012 (the “Notes”), guaranteed by Booysendal Platinum Proprietary Limited, by an aggregate amount of R469.3 million (the “Purchased Notes”), with effect from 11 May 2020.

Details pertaining to the Purchased Notes:

Bond Code: NHM006
ISIN: ZAG000158577
Reduction in the nominal amount of the relevant Notes: R28 907 002.00
Remaining nominal amount of the relevant Notes in issue: R221 092 998.00
   
Bond Code: NHM007
ISIN: ZAG000158593
Reduction in the nominal amount of the relevant Notes: R58 814 004.00
Remaining nominal amount of the relevant Notes in issue: R241 185 996.00
   
Bond Code: NHM010
ISIN: ZAG000159229
Reduction in the nominal amount of the relevant Notes: R35 000 000.00
Remaining nominal amount of the relevant Notes in issue: R15 000 000.00
   
Bond Code: NHM011
ISIN: ZAG000159237
Reduction in the nominal amount of the relevant Notes: R277 000 000.00
Remaining nominal amount of the relevant Notes in issue: R223 000 000.00
Bond Code: NHM012
ISIN: ZAG000160136
Reduction in the nominal amount of the relevant Notes: R69 530 000.00
Remaining nominal amount of the relevant Notes in issue: R30 470 000.00

The reduction in the nominal amount of the Notes was effected through the purchase by Northam of the Purchased Notes in the market and the surrender by Northam of the Purchased Notes to the Transfer Agent under the Programme for cancellation thereof, with effect from 11 May 2020.

Northam noteholders are referred to the announcement published by the Company on SENS today, 11 May 2020 (the “Announcement”) pertaining to, inter alia, a note switch whereby the maturity dates of certain Notes will be extended through a purchase and cancellation of such Notes and the simultaneous issue of new notes under the Programme with longer maturity dates, for the same nominal amount, as detailed in the Announcement (the “Note Switch”). The purchase and cancellation of the Purchase Notes pertains to the Note Switch.

Johannesburg
11 May 2020

Corporate Advisor and JSE Sponsor to Northam
One Capital

Sole Arranger, Dealer and Debt Sponsor to Northam in respect of the Notes
One Capital

Attorneys to Northam
Cliffe Decker Hofmeyr Inc.

Attorneys to Northam, the Arranger and the Dealer in respect of the Notes
Bowman Gilfillan Inc.

Northam restructures DMTN programme, accesses new funding

Johannesburg, Monday 11 May 2020. Northam is pleased to announce that it has reached agreement to extend the maturity dates of certain notes held in terms of the company’s R10 billion DMTN programme, with an aggregate amount of circa R1.885 billion. The agreement was reached with a number of the noteholders.


Johannesburg, Monday 11 May 2020. Northam is pleased to announce that it has reached agreement to extend the maturity dates of certain notes held in terms of the company’s R10 billion DMTN programme, with an aggregate amount of circa R1.885 billion. The agreement was reached with a number of the noteholders.

This extension will be effected by the purchase and cancellation of the above-mentioned notes, and the simultaneous issue of new notes with longer-term maturities.

In addition, certain noteholders will invest additional capital and subscribe for new notes with an aggregate nominal amount of circa R281 million.

In the short to medium term the switch will serve to preserve liquidity, while the new funding will add liquidity and further strengthen the group’s balance sheet.

The new funding will increase the total nominal number of notes in issue under the programme by circa R281 million, from R5.245 billion to circa R5.526 billion.

From the date of issue, the new notes will mature over periods of nine months (c.R495 million), three years (c.R671 million), four years (R450 million) and five years (R550 million) respectively.

The nine-month, three-year, four-year and five-year new notes will attract a floating rate coupon of 2.40%, 3.75%, 4.00% and 4.25% respectively above the three-month ZAR-JIBAR per annum. Interest on the new notes will be payable quarterly.

After the note switch the remaining maturities under the programme for the rest of the calendar year 2020 will reduce from R550 million to c.R20 million, thereby reducing capital outflow in the current period, and mitigating some of the risk associated in this period of uncertainty associated with operating constraints occasioned by the COVID-19 pandemic.

Northam CEO Paul Dunne said today, “Northam remains appreciative of the support and confidence it continues to receive from investors in the DMTN programme. The R1.885 billion note switch will assist in preserving and strengthening Northam’s liquidity during the COVID-19 pandemic. Added to this is a R530 million reduction in maturities during calendar year 2020, coupled with an injection of R281 million of new capital, resulting in an R811 million increase in calendar year 2020 liquidity. This is a very positive outcome for Northam.”

The unabridged SENS announcement is published on the Northam website at www.northam.co.za

Issued by R&A Strategic Communications,
Johannesburg,
Tel +27 (0)11 880 3924;

Marion Brower +27 71 493 0387

R2.166 Billion restructuring of Northam's domestic medium term note programme, including new funding

Northam is pleased to announce that it has reached an agreement with certain holders of domestic medium term notes (“Notes”) (“Noteholders”) under Northam’s R10 billion Domestic Medium Term Note Programme (dated 3 August 2012, as amended and / or supplemented from time to time) (“Programme”), to extend the maturity dates of certain Notes with an aggregate nominal amount of c.R1.885 billion through the purchase and cancellation of such Notes and the simultaneous issue of new Notes with longer term maturities, for the same nominal amount and to the same Noteholders (“Note Switch”). Furthermore, certain Noteholders will invest additional capital and subscribe for additional new Notes with an aggregate nominal amount of c.R281 million (“New Funding”).


Northam is pleased to announce that it has reached an agreement with certain holders of domestic medium term notes (“Notes”) (“Noteholders”) under Northam’s R10 billion Domestic Medium Term Note Programme (dated 3 August 2012, as amended and / or supplemented from time to time) (“Programme”), to extend the maturity dates of certain Notes with an aggregate nominal amount of c.R1.885 billion through the purchase and cancellation of such Notes and the simultaneous issue of new Notes with longer term maturities, for the same nominal amount and to the same Noteholders (“Note Switch”). Furthermore, certain Noteholders will invest additional capital and subscribe for additional new Notes with an aggregate nominal amount of c.R281 million (“New Funding”).

The Note Switch will preserve the group’s liquidity in the short to medium term by extending the maturity dates of certain Notes, whilst the New Funding will provide additional liquidity and further strengthen the group’s balance sheet over the short to medium term. The Note Switch will not increase the total nominal amount of Notes in issue under the Programme whilst the New Funding will increase the total nominal amount of Notes in issue under the Programme by c.R281 million, from R5.245 billion to c.R5.526 billion.

The Notes to be purchased and cancelled as part of the Note Switch were issued under bond code series NHM002, NHM006, NHM007, NHM009, NHM010, NM011, NHM012, NHM013 and NHM014 and mature in Northam’s financial years ending 30 June 2020, 2021 and 2022. The new Notes to be issued as part of the Note Switch and New Funding (collectively, the “New Notes”) will mature over a nine month (c.R495 million), three year (c.R671 million), four year (R450 million) and five year (R550 million) term from the date of issue. The nine month, three year, four year and five year New Notes will attract a floating rate coupon of 2.40%, 3.75%, 4.00% and 4.25% above the 3 month ZAR-JIBAR per annum, respectively. Interest on the New Notes will be payable quarterly.

Following implementation of the Note Switch, the remaining maturities under the Programme pertaining to the rest of the calendar year 2020 (“CY 20”) will reduce from R550 million to c.R20 million. Northam is pleased that the large reduction in CY 20 maturities significantly reduces capital outflow during the current national lockdown and related operational constraints as a result of the COVID-19 pandemic. Furthermore, Northam has attracted an additional c.R281 million of long-term funding during this period. The net effect for CY 20 is a c.R811 million increase in liquidity derived from the Note Switch and New Funding.

The following table summarises the impact of the Note Switch and New Funding on the maturity profile of Notes in issue, in respect of Northam’s financial years ending 30 June. Values represent the change in the nominal amount of maturities of Notes for each financial year.

Change in maturity value in each financial year 2020
R’m
2021
R’m
2022
R’m
2023
R’m
2024
R’m
2025
R’m
Total
R’m
Note Switch:
Notes purchased and cancelled
(35) (c.795) (c.1 055) - - - (c.1 885)
Note Switch: Notes issued - c.495 - c.671 250 c.469 c.1 885
New Funding: Notes issued - - - - 200 c.81 c.281
Net change in the nominal amount of maturities (35) (c.300) (c.1 055) c.671 450 550 c.281

Northam shareholders are referred to the announcement published by Northam on SENS on 8 May 2020 pertaining to the listing of the NHM016 Note with a nominal amount of R550 million. c.R469 million of this amount pertains to the Note Switch and c.R81 million pertains to the New Funding. Accordingly, Notes with a nominal amount of c.R469 million will be purchased and cancelled by Northam on 11 May 2020, being the date of issue of the NHM016 Note.

Further information pertaining to the Note Switch will be announced as and when the Note Switch is implemented through the purchase of issued Notes and the issue of New Notes.

Paul Dunne, Northam’s Chief Executive Officer said “Northam remains appreciative of the support and confidence it continues to receive from investors in the Programme. The R1.885 billion note switch will assist in preserving and strengthening Northam’s liquidity during the COVID-19 pandemic. Added to this is a R530 million reduction in maturities during calendar year 2020, coupled with an injection of R281 million of new capital, resulting in an R811 million increase in calendar year 2020 liquidity. This is a very positive outcome for Northam.”

Johannesburg
11 May 2020

Corporate Advisor and JSE Sponsor to Northam
One Capital

Sole Arranger, Dealer and Debt Sponsor to Northam in respect of the Notes
One Capital

Attorneys to Northam
Cliffe Dekker Hofmeyr Inc.

Legal Advisors to Northam, the Arranger and the Dealer in respect of the Notes
Bowman Gilfillan Inc.

Listing of new financial instrument – NHM016

The JSE Limited (“JSE”) has granted approval for the listing of NHM016 Senior Unsecured Floating Rate Notes (“Notes”), under the Northam Platinum Limited ZAR10 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as amended and / or supplemented from time to time (“Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 11 May 2020.


The JSE Limited (“JSE”) has granted approval for the listing of NHM016 Senior Unsecured Floating Rate Notes (“Notes”), under the Northam Platinum Limited ZAR10 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as amended and / or supplemented from time to time (“Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 11 May 2020.

The details pertaining to NHM016 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR5 325 748 994.00 including this issue
Instrument Code: NHM016
Nominal Amount: ZAR550 000 000.00
Issue Price: 100%
Interest Rate: 3 Month ZAR-JIBAR plus 425 bps, being 8.792% on the first Interest Rate Determination Date (3 Month ZAR-JIBAR as at 6 May 2020 of 4.542% plus 425 bps)
Interest Rate Determination Date(s):       11 August, 11 November, 11 February, and 11 May (or the first Business Day of each Interest Period) of each year until the Maturity Date, with the first Interest Rate Determination Date being 6 May 2020
Coupon Rate Indicator: Floating
Issue Date: 11 May 2020
Interest Commencement Date: 11 May 2020
Maturity Date: 11 May 2025
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17h00 on 31 July, 31 October, 31 January and 30 April of each year until the Maturity Date or if such day is not a Business Day, the Business Day before each Books Closed Period
Books Closed Period: From 01 August to 10 August, 01 November to 10 November, 01 February to 10 February and 01 May to 10 May of each year until the Maturity Date (all dates inclusive), or if any early redemption occurs, 10 Days prior to the actual Redemption Date
Interest Payment Date(s): 11 August, 11 November, 11 February, and 11 May of each year until the Maturity Date
ISIN: ZAG000167750
Business Day Convention: Following Business Day
Other: The applicable pricing supplement (“APS”) contains additional terms and conditions to the Terms and Conditions as contained in the Programme (“Additional Terms and Conditions”)
Summary of Additional Terms and Conditions: The Additional Terms and Conditions pertain to the applicable guarantee and the amendment of Condition 16.1 (Senior Notes) by including additional Events of Default in terms of Condition 16.1.1.9 (Other) of the Terms and Conditions. Investors should refer to Appendix “A” of the APS for full details of the Additional Terms and Conditions, available on Northam’s website: https://www.northam.co.za/downloads/send/96-files/1281-applicable-pricing-supplement-nhm016

The Notes will be immobilised in the Central Securities Depository (CSD) and settlement will take place electronically in terms of JSE Rules.

Johannesburg
8 May 2020

Sole Arranger, Dealer and Debt Sponsor to Northam in respect of the Notes
One Capital

Attorneys to Northam, the Arranger and the Dealer in respect of the Notes
Bowman Gilfillan Inc.

Interest payment notification – NHM002

Northam bondholders are advised of the following interest payment due on Tuesday, 12 May 2020:


Northam bondholders are advised of the following interest payment due on Tuesday, 12 May 2020:

Bond Code: NHM002
ISIN No: ZAG000129024
Coupon: 13.5% per annum
Interest Period: 12 November 2019 to 11 May 2020
Interest Amount Due: R11 812 500.00
Payment Date: 12 May 2020
Date Convention: Modified Following Business Day

6 May 2020

Debt Sponsor
One Capital

Interest payments notification – NHM008 and NHM009

Northam bondholders are advised of the following interest payments due on Tuesday, 28 April 2020:


Northam bondholders are advised of the following interest payments due on Tuesday, 28 April 2020:


Bond Code: NHM008
ISIN No: ZAG000158858
Coupon: 8.958%
Interest Period: 27 January 2020 to 27 April 2020
Interest Amount Due: R4 515 813.70
Payment Date: 28 April 2020
Date Convention: Following Business Day
Bond Code: NHM009
ISIN No: ZAG000158866
Coupon: 10.308%
Interest Period: 27 January 2020 to 27 April 2020
Interest Amount Due: R6 495 452.05
Payment Date: 28 April 2020
Date Convention: Following Business Day

Johannesburg
22 April 2020

Debt Sponsor
One Capital

Interest payments notification – NHM0006 and NHM0007

Northam bondholders are advised of the following interest payments due on Thursday, 16 April 2020:


Northam bondholders are advised of the following interest payments due on Thursday, 16 April 2020:

Bond Code: NHM006
ISIN No: ZAG000158577
Coupon: 10.05%
Interest Period: 16 January 2020 to 15 April 2020
Interest Amount Due: R6 264 041.10
Payment Date: 16 April 2020
Date Convention: Following Business Day
 
Bond Code: NHM007
ISIN No: ZAG000158593
Coupon: 10.55%
Interest Period: 16 January 2020 to 15 April 2020
Interest Amount Due: R7 890 821.92
Payment Date: 16 April 2020
Date Convention: Following Business Day

Johannesburg
9 April 2020

Debt Sponsor
One Capital

Acquisition of R1.27 billion of Zambezi preference shares, fully funded through a placement of R1.27 billion of notes under the DMTN programme, and an increase in the DMTN programme amount to R10 billion

Northam shareholders are referred to the announcement dated 1 November 2019 (“previous announcement”) pertaining to the acquisition by Northam of preference shares in Zambezi Platinum (RF) Limited (“Zambezi”) (“Zambezi preference shares”).


1.    ACQUISITION OF ZAMBEZI PREFERENCE SHARES FOR R1.27 BILLION

Northam shareholders are referred to the announcement dated 1 November 2019 (“previous announcement”) pertaining to the acquisition by Northam of preference shares in Zambezi Platinum (RF) Limited (“Zambezi”) (“Zambezi preference shares”).

Northam is pleased to announce that, since the date of the previous announcement, it has acquired an additional 16.7 million Zambezi preference shares for a total cash consideration of approximately R1.27 billion (“ZPLP acquisition”). Northam now holds a total of 53 376 850 Zambezi preference shares, representing approximately 33.38% of all Zambezi preference shares in issue.

As stated in the previous announcement, Northam’s acquisition of Zambezi preference shares will reduce the preference share dividend expense and liability included in Northam’s consolidated financial statements, as well as Northam’s potential financial exposure under the guarantee it provided to holders of Zambezi preference shares, should the guarantee be called upon. Furthermore, should Zambezi redeem the Zambezi preference shares through a distribution of ordinary shares in Northam (“Northam shares”) held by Zambezi, then the redemption of the Zambezi preference shares held by Northam at such time will result in a distribution of Northam shares to Northam, thereby reducing the number of Northam shares in issue.

The ZPLP acquisition has been fully funded through the placement of the new notes, as further detailed below.

The ZPLP acquisition is not a categorised transaction  in terms of the JSE Limited Listings Requirements and information relating thereto is provided for information purposes only.

2.    INCREASE IN NORTHAM’S DMTN PROGRAMME AMOUNT FROM R5 BILLION TO R10 BILLION

In terms of the programme memorandum in respect of Northam's ZAR5 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as amended and / or supplemented from time to time (“DMTN Programme”), the board of directors of Northam has approved an increase in the Programme Nominal Amount from ZAR5 000 000 000 to ZAR10 000 000 000. This increase will provide Northam with additional funding flexibility.

3.    PLACEMENT OF R1.27 BILLION OF NEW NOTES

Northam is pleased to announce that it has completed a private placement of notes to the value of R1.27 billion (“new notes”) under its DMTN Programme, in an amount equal to the consideration payable under the ZPLP acquisition. The new notes were placed as a new tranche under the NHM014 series and were listed on the Interest Rate Market of the JSE today, 3 April 2020. The new notes were issued on the same terms as the NHM014 series with a maturity date of 20 November 2021 and a floating interest rate of 3 month ZAR-JIBAR plus 2.5%, with interest payable quarterly. Following the placement of the new notes, the total aggregate nominal amount of notes in issue under the DMTN Programme amounts to R5.445 billion.

Johannesburg
3 April 2020

Corporate Advisor, Sponsor and Debt Sponsor to Northam
One Capital

Sole Arranger and Dealer to Northam in respect of the new notes and the DMTN Programme
One Capital

Attorneys to Northam
Cliffe Dekker Hofmeyr Inc.

Legal Advisors to Northam, the Arranger and the Dealer in respect of the new notes and the DMTN Programme
Bowman Gilfillan Inc.

Listing of tap issue (NHM014) under the increased DMTN programme

Noteholders are advised that the board of directors of Northam has approved an increase in the Programme Nominal Amount in terms of the provisions of the programme memorandum for its ZAR5 000 000 000.00 Domestic Medium Term Note Programme dated 3 August 2012, as amended and / or supplemented from time to time (“DMTN Programme”), from ZAR5 000 000 000.00 to ZAR10 000 000 000.00.


Noteholders are advised that the board of directors of Northam has approved an increase in the Programme Nominal Amount in terms of the provisions of the programme memorandum for its ZAR5 000 000 000.00 Domestic Medium Term Note Programme dated 3 August 2012, as amended and / or supplemented from time to time (“DMTN Programme”), from ZAR5 000 000 000.00 to ZAR10 000 000 000.00.

Noteholders are further advised that the JSE Limited (“JSE”) has granted approval for the listing of a tap issue of NHM014 Senior Unsecured Floating Rate Notes (“Notes”), under the DMTN Programme, as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 3 April 2020.

The details pertaining to the tap issue of NHM014 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR5 445 000 000.00 including this issue
Instrument Code: NHM014
Nominal Amount: ZAR1 270 000 000.00
Issue Price: 101.066164%
Interest Rate: 3 Month ZAR-JIBAR plus 250 bps
Interest Rate Determination Date(s):       20 February, 20 May, 20 August and 20 November (or the first Business Day of each Interest Period) of each year until the Maturity Date
Coupon Rate Indicator: Floating
Issue Date: 3 April 2020
Interest Commencement Date: 20 February 2020
Maturity Date: 20 November 2021
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17h00 on 9 February, 9 May, 9 August and 9 November of each year until the Maturity Date
Books Closed Period: From 10 February to 19 February, 10 May to 19 May, 10 August to 19 August and 10 November to 19 November of each year until the Maturity Date (all dates inclusive) or if any early redemption occurs, 10 days prior to the actual Redemption Date
Interest Payment Date(s): 20 February, 20 May, 20 August and 20 November of each year until the Maturity Date
ISIN No: ZAG000163650
Business Day Convention: Following Business Day
Other: The applicable pricing supplement (“APS”) contains additional terms and conditions to the Terms and Conditions as contained in the DMTN Programme (“Additional Terms and Conditions”)
Summary of Additional Terms and Conditions: The Additional Terms and Conditions pertain to the applicable guarantee and the amendment of Condition 16.1 (Senior Notes) by including additional Events of Default in terms of Condition 16.1.1.9 (Other) of the Terms and Conditions. Investors should refer to Appendix “A” of the APS for full details of the Additional Terms and Conditions, available on Northam’s website: https://www.northam.co.za/downloads/send/96-files/1280-listing-of-tap-issue-nhm014

The Notes will be immobilised in the Central Securities Depository (CSD) and settlement will take place electronically in terms of JSE Rules.

Johannesburg
2 April 2020

Sole Arranger, Dealer and Debt Sponsor to Northam in respect of the Notes
One Capital

Legal Advisors to Northam, the Arranger and the Dealer in respect of the Notes
Bowman Gilfillan Inc.