Announcements 2017

Amandelbult resource acquisition becomes unconditional and conclusion of the Pandora joint venture disposal

Northam shareholders are referred to the announcement published on SENS on 11 October 2016 in respect of the acquisition by Northam of a portion of the Amandelbult mining right, contiguous with the north western boundary of Northam’s Zondereinde mine, for a cash consideration of R1 billion.


Amandelbult resource acquisition

Northam shareholders (“shareholders”) are referred to the announcement published on SENS on 11 October 2016 in respect of the acquisition by Northam of a portion of the Amandelbult mining right, contiguous with the north western boundary of Northam’s Zondereinde mine, for a cash consideration of R1 billion (the “Amandelbult transaction”). Shareholders are further referred to the announcement published on SENS on 25 August 2017 informing shareholders that consent from the Minister of Mineral Resources in terms of section 102 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002 for the Amandelbult transaction had been received.

Northam is pleased to announce that the Amandelbult transaction has subsequently become unconditional and the transfer of the mining right was executed on 6 December 2017.

Pandora joint venture disposal

In addition, shareholders are referred to the announcement published on SENS on 15 May 2017 in respect of the disposal of Northam’s 7.5% participation interest in the Pandora joint venture (“Disposal”). Shareholders are hereby advised that the Disposal was concluded on 1 December 2017.

Paul Dunne, Northam’s Chief Executive Officer, said “Northam is pleased to have concluded the Amandelbult transaction, providing immediate access to a high quality resource that secures strategic flexibility, optionality and longevity at Zondereinde.”

Johannesburg
13 December 2017

Corporate Advisor, Sponsor and Debt Sponsor:  
One Capital

Attorneys: Cliffe Dekker Hofmeyr Inc.

Transactions in securities

In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listings Requirements, Northam hereby advises its shareholders of the following dealings by directors of the company, director of a major subsidiary and the company secretary:


In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listings Requirements (“JSE Listings Requirements”), Northam hereby advises its shareholders of the following dealings by directors of the company, director of a major subsidiary and the company secretary:

Name of director of the company Paul Anthony Dunne
Date of deemed acceptance of the award 6 December 2017
Nature of transaction Deemed acceptance of an award of Northam ordinary shares (“shares”) in accordance with the Northam Share Incentive Plan (“SIP”)
Class of securities Award in terms of the SIP
Total number of shares covered by the award 183 200 (46 200 retention shares with no performance conditions) (137 000 performance shares with performance conditions)
Vesting date 100% of the retention shares and depending on achievement of the performance conditions, between nil to 135% of the performance shares on 2 November 2020
Strike price R nil
Value of transaction -
Nature and extent of director’s interest Direct beneficial
Transaction completed on market No
Clearance obtained in terms of paragraph 3.66 of the JSE Listings Requirements Yes

 

Name of director of the company Ayanda Zemini Khumalo
Date of deemed acceptance of the award 6 December 2017
Nature of transaction Deemed acceptance of an award of shares in accordance with the SIP
Class of securities Award in terms of the SIP
Total number of shares covered by the award 87 700(22 100 retention shares with noperformance conditions)(65 600 performance shares with performance conditions)
Vesting date 100% of the retention shares and depending on targets met in terms of the performance conditions, between nil to 135% of the performance shares on 2 November 2020
Strike price R nil
Value of transaction -
Nature and extent of director’s interest Direct beneficial
Transaction completed on market No
Clearance obtained in terms of paragraph 3.66 of the JSE Listings Requirements Yes

 

Name of director of major subsidiary   Leon Charl van Schalkwyk
Name of major subsidiary Booysendal Platinum Proprietary Limited
Date of deemed acceptance of the award 6 December 2017
Nature of transaction Deemed acceptance of an award of shares in accordance with the SIP
Class of securities Award in terms of the SIP
Total number of shares covered by the award 70 500 (17 800 retention shares with no performance conditions) (52 700 performance shares with performance conditions)
Vesting date 100% of the retention shares and depending on targets met in terms of the performance conditions, between nil to 135% of the performance shares on 2 November 2020
Strike price R nil
Value of transaction -
Nature and extent of director’s interest Direct beneficial
Transaction completed on market No
Clearance obtained in terms of paragraph 3.66 of the JSE Listings Requirements Yes

 

Name of company secretary Patricia Beatrice Beale
Date of deemed acceptance of the award 6 December 2017
Nature of transaction Deemed acceptance of an award of shares in accordance with the SIP
Class of securities Award in terms of the SIP
Total number of shares covered by the award 41 300 (10 400 retention shares with no performance conditions) (30 900 performance shares with performance conditions)
Vesting date 100% of the retention shares and depending on targets met in terms of the performance conditions, between nil to 135% of the performance shares on 2 November 2020
Strike price R nil
Value of transaction -
Nature and extent of interest Direct beneficial
Transaction completed on market No
Clearance obtained in terms of paragraph 3.66 of the JSE Listings Requirements Yes

Johannesburg
7 December 2017

Sponsor and Debt Sponsor  
One Capital

Results of annual general meeting and changes to the board of directors

Northam shareholders (“shareholders”) are advised that at the annual general meeting of shareholders held on Tuesday, 7 November 2017 (“AGM”), the ordinary and special resolutions, as set out in the notice of AGM dated Friday, 22 September 2017, were approved by the requisite majority of shareholders present or represented by proxy at the AGM.


Northam shareholders (“shareholders”) are advised that at the annual general meeting of shareholders held on Tuesday, 7 November 2017 (“AGM”), the ordinary and special resolutions, as set out in the notice of AGM dated Friday, 22 September 2017, were approved by the requisite majority of shareholders present or represented by proxy at the AGM. Further details regarding the voting results for each of the resolutions are contained below.

Changes to the board of directors

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are advised as follows:

Retirement and appointment of Chairman

Mr Lazarus Zim, Chairman of the board of directors of Northam (“board”), retired at the conclusion of the AGM. The board would like to thank Mr Zim for his valuable contribution to the company during his ten year tenure as a director and Chairman of the board.

Northam is pleased to announce that following the retirement of Mr Zim, Mr Brian Mosehla, a non-executive director of the board, has been appointed as Chairman. Mr Mosehla joined Northam in August 2015 and represents Zambezi Platinum (RF) Limited. The board looks forward to Mr Mosehla’s contribution in his new role.

Mr Ralph Havenstein, the Lead Independent Director (“LID”) will continue to serve as LID of the company.

Appointment of independent non-executive directors and board committee changes

Mr David Brown, who has been elected as an independent non-executive director of the board at the AGM with effect from the date on which the amendment of the company’s memorandum of incorporation envisaged in special resolution number 1 becomes effective, has been appointed as a member of the audit and risk committee and Chairman of the investment committee.  Mr Brown will replace Mr Havenstein as Chairman of the investment committee, and Mr Havenstein will remain as a member of the investment committee.

Dr Yoza Jekwa has been appointed by the board as an independent non-executive director of the board and as a member of the social, ethics and human resources committee with effect from Wednesday, 8 November 2017. Dr Jekwa holds an MBA in Finance and an MBBCh (Medicinae Baccalaureus, Baccalaureus Chirurgiae). Dr Jekwa has extensive experience in the South African Corporate Banking industry and has held various positions in the medical field in South Africa and the United Kingdom. The board is pleased to welcome Dr Jekwa and looks forward to her future contribution to the company.

Mr Mosehla will replace Mr Zim as a member of the nomination committee, following Mr Zim’s retirement.

Mr John Smithies, an independent non-executive director of the board, has been appointed as a member of the health, safety and environmental committee.

Results of annual general meeting

The total number of Northam shares eligible to vote at the AGM is 509 781 212.

All resolutions proposed at the AGM, together with the number and percentage of shares voted, the percentage of shares abstained, as well as the percentage of votes carried for and against each resolution, are as follows:

Ordinary resolution number 1 – adoption of audited group annual financial statements of the company for the year ended 30 June 2017

Shares voted For Against Abstained
450 653 510
88.40%
99.47% 0.53% 0.02%

Ordinary resolution number 2.1 – re-election of Mr R Havenstein as a director

Shares voted For Against Abstained
450 777 895
88.43%
98.50% 1.50% 0.00%

Ordinary resolution number 2.2 – re-election of Ms TE Kgosi as a director

Shares voted For Against Abstained
450 777 895
88.43%
97.81% 2.19% 0.00%

Ordinary resolution number 2.3 – re-election of Mr KB Mosehla as a director

Shares voted For Against Abstained
450 777 895
88.43%
97.61% 2.39% 0.00%

 

Ordinary resolution number 2.4 – re-election of Mr JG Smithies as a director

Shares voted For Against Abstained
450 777 895
88.43%
100.00% 0.00% 0.00%

Ordinary resolution number 2.5 – election of Mr DH Brown as a director, conditional on special resolution number 1 being approved and the amendment of the company's memorandum of incorporation envisaged therein becoming effective.


Shares voted
For Against Abstained
450 777 895
88.43%
96.79% 3.21% 0.00%

Ordinary resolution number 3 – re-appointment of Ernst & Young Inc. as the independent external auditor of the company

Shares voted For Against Abstained
444 905 041
87.27%
83.07% 16.93% 1.15%

Ordinary resolution number 4.1 – re-election of Ms HH Hickey as a member of the audit and risk committee

Shares voted For Against Abstained
436 238 743
85.57%
99.33% 0.67% 2.85%

Ordinary resolution number 4.2 – re-election of Mr R Havenstein as a member of the audit and risk committee

Shares voted For Against Abstained
450 777 895
88.43%
88.67% 11.33% 0.00%

Ordinary resolution number 4.3 – re-election of Ms TE Kgosi as a member of the audit and risk committee

Shares voted For Against Abstained
450 777 895
88.43%
88.68% 11.32% 0.00%

Ordinary resolution number 5.1 – endorsement of the group’s remuneration policy

Shares voted For Against Abstained
450 777 895
88.43%
84.61% 15.39% 0.00%

Ordinary resolution number 5.2 – endorsement of the group’s remuneration implementation report

Shares voted For Against Abstained
450 777 895
88.43%
86.78% 13.22% 0.00%

Special resolution number 1 – approval of amendment to the company's memorandum of incorporation to increase the maximum number of directors

Shares voted For Against Abstained
450 777 895
88.43%
100.00% 0.00% 0.00%

Special resolution number 2 – approval of non-executive directors’ fees for the year ending 30 June 2018


Shares voted
For Against Abstained
450 777 895
88.43%
100.00% 0.00% 0.00%

Special resolution number 3.1 – approval of financial assistance to related and interrelated companies

Shares voted For Against Abstained
450 777 895
88.43%
100.00% 0.00% 0.00%

Special resolution number 3.2 – approval of financial assistance to executive directors and/or prescribed officers and their related and interrelated persons

Shares voted For Against Abstained
450 777 895
88.43%
89.68% 10.32% 0.00%

Special resolution number 4 – approval of general authority to repurchase issued shares

Shares voted For Against Abstained
450 777 895
88.43%
99.70% 0.30% 0.00%

Notes

  • Percentages of shares voted are calculated in relation to the total issued share capital of Northam.
  • Percentage of shares voted for and against are calculated in relation to the total number of shares voted in respect of each resolution.
  • Abstentions are calculated as a percentage in relation to the total issued share capital of Northam.

Johannesburg
7 November 2017

Sponsor and Debt Sponsor
One Capital

 

Board changes at Northam

Mr Lazarus Zim, chairman of Northam Platinum Limited (Northam) has retired from the board of the company with immediate effect. Mr Zim was appointed to the board in April 2007.


Johannesburg, Tuesday, 7 November 2017. Mr Lazarus Zim, chairman of Northam Platinum Limited (Northam), has retired from the board of the company with immediate effect. Mr Zim was appointed to the board in April 2007.

Northam chief executive Paul Dunne paid tribute to Mr Zim and commented: “Mr Zim will be remembered for the empowerment transaction with Zambezi Platinum, which secured Northam’s HDSA equity status, serving as the catalyst for the company to launch its growth ambitions. Northam is now a multi-asset, low-cost PGM producer, with a healthy project pipeline being developed.”

Mr Zim is being replaced as chairman by Mr Brian Mosehla. Mr Mosehla was appointed to the board in August 2015 as a non-executive director. He is a member of the Northam investment committee and will replace Mr Zim as a member of the nomination committee.

Mr Mosehla is the chief executive of Mosomo Investment Holdings Proprietary Limited, chairman of Zambezi Platinum, a director of Malundi Resources (RF) Proprietary Limited and Coal of Africa Limited.

Appointment of independent non-executive directors and board committee changes

Further changes to the board include the appointment of Mr David Brown and Dr Yoza Jekwa as independent non-executive directors. 

Mr Brown is the current chief executive of Coal of Africa Limited and is a director of the Vodacom group. Previously Mr Brown was the chief executive of Implats.

Mr Brown is appointed as a member of the audit and risk committee, and chairman of the investment committee.

Dr Jekwa has extensive experience in South African corporate banking, and has held a number of positions in the medical field in South Africa and the United Kingdom. She holds an MBA in finance and a MBBCh (Bachelor of Medicine and Bachelor of Surgery).

Dr Jekwa will serve on the social, ethics and human resources committee.

Issued by
R&A Strategic Communication
Johannesburg
Tel +27 (0)11 880 3924
Marion Brower +27 71 493 0387
Jan Walker +27 71 493 0429

Northam’s long term credit rating upgraded

Northam wishes to advise shareholders that the credit rating agency, Global Credit Rating Co. (“GCR”), has upgraded Northam’s long term credit rating to A-(ZA) from BBB+(ZA) and reaffirmed Northam’s short term credit rating at A1-(ZA), with the outlook being accorded as Stable.


Northam wishes to advise shareholders that the credit rating agency, Global Credit Rating Co. (“GCR”), has upgraded Northam’s long term credit rating to A-(ZA) from BBB+(ZA) and reaffirmed Northam’s short term credit rating at A1-(ZA), with the outlook being accorded as Stable.

Northam’s credit rating upgrade was achieved despite the current and ongoing challenges being faced by the mining industry, further illustrating the group’s resilience and ability to maintain a strong capital base and liquidity position.

Northam’s credit rating upgrade is based on the following key considerations:

  • The realisation of projected benefits of Northam’s fully funded R6.6 billion black economic empowerment transaction through the acquisition of quality platinum group metal (“PGM”) assets at favourable prices.
  • Additional sources of production being expected from Northam’s recent transactions, including the acquisition of the Tumela block and the Eland Platinum mine, and further geographical and segmental diversification through the acquisition of the PGM recycling assets in the United States of America.  
  • A 60% increase in Northam’s operating profit as a result of improved metal prices, lower costs of production, general economies of scale and the implementation of stringent cost controls.
  • The easing of Northam’s corporate risk profile as a result of Booysendal North maintaining steady state production for two years and becoming the second operational mine of the group.
  • A strong improvement in Northam’s operating cash flows, up from R952.7 million for the financial year ended 30 June 2016 to R1.1 billion for the financial year ended 30 June 2017.
  • A strong capital base, with R1.8 billion in cash as at 30 June 2017, well in excess of the R425 million in interest bearing obligations, as well as the availability of a R1.0 billion revolving credit facility (which increases to R1.5 billion H2 F2018), asserting Northam’s strong liquidity position in the medium-term.
  • A further positive rating migration is predicted on the development of Booysendal South and recently acquired ore bodies, which should see a continued widening of the group’s operating margins and sustainability of cash flows and credit protection metrics.

GCR has published an announcement in regard to Northam’s credit rating (available from GCR at https://globalratings.net).

Johannesburg
13 October 2017

Corporate and Debt Advisor, Sponsor and Debt Sponsor
One Capital

Platinum the key to clean air

Northam chief executive Paul Dunne today added the company’s voice to the Fuel Cell and Hydrogen Energy Association’s (FCHEA) campaign to help raise awareness of clean energy technology.


Johannesburg, Sunday, 8 October 2017. Northam chief executive Paul Dunne today added the company’s voice to the Fuel Cell and Hydrogen Energy Association’s (FCHEA) campaign to help raise awareness of clean energy technology.

The FCHEA in the United States, other industry bodies and federal governments will be marking the National Hydrogen and Fuel Cell Day with various activities throughout the country.

Against the background of climate change, and spurred by developments at the World Economic Forum and the Paris agreement on climate change at COP21, governments worldwide are being urged to support investment in technology to provide cleaner and more efficient sources of power in the industrial, commercial and residential sectors.

Referring to the automobile sector, Dunne commented, “Now that fuel cell electric vehicles (FCEVs) have moved firmly into the commercial phase, government policy is required to serve as a guideline for a national development and implementation plan.

“At the same time,” Dunne added, “the traditional internal combustion engines which are fitted with PGM-bearing emission-reducing catalysts, will continue to ensure that increasingly stringent emissions standards can be met.

“The key is PGMs – their application in these technologies has an enormously beneficial impact on the environment.

“As a reliable and growing producer of these precious metals, we at Northam are committed to continue to supply PGMs into a market which seeks to enhance the quality of the global environment.” Dunne concluded.

Distributed by R&A Strategic Communications

Tel +27 11 880 3924
Marion Brower +27 (0) 71 493 0387
Jan Walker +27 (0) 71 493 0429

NOTE TO EDITORS:

FCHEA is the trade association dedicated to the commercialization of fuel cells and hydrogen energy technologies. For more information, visit www.fchea.org.

Dealings in securities

In terms of the Northam broad-based economic empowerment transaction implemented on 18 May 2015, Zambezi Platinum holds ordinary shares in Northam. Pursuant to the preference share terms, Zambezi Platinum is entitled to elect to settle the preference share redemption amount in cash, Northam ordinary shares or a combination thereof.


Purchase of Zambezi Platinum (RF) Limited (“Zambezi Platinum”) preference shares (“preference shares”)

In terms of the Northam broad-based economic empowerment transaction implemented on 18 May 2015, Zambezi Platinum holds ordinary shares in Northam. Pursuant to the preference share terms, Zambezi Platinum is entitled to elect to settle the preference share redemption amount in cash, Northam ordinary shares or a combination thereof.

Accordingly, in compliance with paragraphs 3.63 to 3.66 of the JSE Listings Requirements (“Listings Requirements”), Northam advises its shareholders of the following dealings by a director of a major subsidiary of the company and of Zambezi Platinum and his associates:

Transaction 1  
Name of associate Bepro Messina (Pty) Ltd (“Bepro”)
Relationship with director of major subsidiary Mr van Schalkwyk is a director of Bepro
Name of major subsidiary Booysendal Platinum Proprietary Limited
Date of transaction 4 October 2017
Nature of transaction Indirect purchase of preference shares
Class of shares Preference shares
Price per preference share R57.00
Total number of preference shares 4 100 preference shares
Value of transaction R233 700.00
Nature and extent of director’s interest Indirect beneficial interest in Zambezi Platinum resulting in an indirect exposure to Northam ordinary shares
Transaction 2  
Name of associate Bepro
Relationship with director of major subsidiary Mr van Schalkwyk is a director of Bepro
Name of major subsidiary Booysendal Platinum Proprietary Limited
Date of transaction 5 October 2017
Nature of transaction Indirect purchase of preference shares
Class of shares Preference shares
Price per preference share R57.00
Total number of preference shares 17 500 preference shares
Value of transaction             R997 500.00
Nature and extent of director’s interest  Indirect beneficial interest in Zambezi Platinum     resulting in an indirect exposure to Northam ordinary shares
Transaction 3  
Name of associate Bepro
Relationship with director of major subsidiary Mr van Schalkwyk is a director of Bepro
Name of major subsidiary Booysendal Platinum Proprietary Limited
Date of transaction 6 October 2017
Nature of transaction Indirect purchase of preference shares
Class of shares Preference shares
Price per preference share R58.00
Total number of preference shares 12 617 preference shares
Value of transaction R731 786.00
Nature and extent of director’s interest Indirect beneficial interest in Zambezi Platinum resulting in an indirect exposure to Northam ordinary shares
Transaction completed on market Yes
Clearance obtained in terms of paragraph 3.66 of the Listings Requirements Yes

Johannesburg
06 October 2017

Debt Sponsor
One Capital

Dealings in securities

In terms of the Northam broad-based economic empowerment transaction implemented on 18 May 2015, Zambezi Platinum holds ordinary shares in Northam. Pursuant to the preference share terms, Zambezi Platinum is entitled to elect to settle the preference share redemption amount in cash, Northam ordinary shares or a combination thereof.


Purchase of Zambezi Platinum (RF) Limited (“Zambezi Platinum”) preference shares (“preference shares”)

In terms of the Northam broad-based economic empowerment transaction implemented on 18 May 2015, Zambezi Platinum holds ordinary shares in Northam. Pursuant to the preference share terms, Zambezi Platinum is entitled to elect to settle the preference share redemption amount in cash, Northam ordinary shares or a combination thereof.

Accordingly, in compliance with paragraphs 3.63 to 3.66 of the JSE Listings Requirements (“Listings Requirements”), Northam advises its shareholders of the following dealings by a director of a major subsidiary of the company and of Zambezi Platinum and his associates:

Transaction 1  
Name of director of major subsidiary Leon Charl van Schalkwyk
Name of major subsidiary Booysendal Platinum Proprietary Limited
Date of transaction 29 September 2017
Nature of transaction Direct purchase of preference shares
Class of shares Preference shares
Price per ordinary share R56.00
Total number of preference shares 17 000 preference shares
Value of transaction R952 000.00
Nature and extent of director’s interest Direct beneficial interest in Zambezi Platinum resulting in an indirect exposure to Northam ordinary shares
Transaction 2  
Name of associate Mrs C van Schalkwyk
Relationship with director of major subsidiary Wife of Mr van Schalkwyk
Name of major subsidiary Booysendal Platinum Proprietary Limited
Date of transaction 29 September 2017
Nature of transaction Indirect purchase of preference shares
Class of shares Preference shares
Price per ordinary share R56.00
Total number of preference shares 17 000 preference shares
Value of transaction R952 000.00
Nature and extent of director’s interest Indirect beneficial interest in Zambezi Platinum   resulting in an indirect exposure to Northam  ordinary shares
Transaction 3  
Name of associate Bepro Messina (Pty) Ltd (“Bepro”)
Relationship with director of major subsidiary Mr van Schalkwyk is a director of Bepro
Name of major subsidiary Booysendal Platinum Proprietary Limited
Date of transaction 29 September 2017
Nature of transaction Indirect purchase of preference shares
Class of shares Preference shares
Price per ordinary share R56.00
Total number of preference shares 43 783 preference shares
Value of transaction R2 451 848.00
Nature and extent of director’s interest Indirect beneficial interest in Zambezi Platinum resulting in an indirect exposure to Northam ordinary shares
Transaction completed on market Yes
Clearance obtained in terms of paragraph 3.66 of the Listings Requirements Yes

Johannesburg
04 October 2017

Debt Sponsor
One Capital

Appointment of independent non-executive director, Notice of annual general meeting and no change statement

In compliance with paragraph 3.59(a) of the JSE Limited Listings Requirements, Northam shareholders are advised that Mr David Hugh Brown has been appointed as an independent non-executive director to the board of Northam.


Appointment of independent non-executive director

In compliance with paragraph 3.59(a) of the JSE Limited Listings Requirements, Northam shareholders are advised that Mr David Hugh Brown has been appointed as an independent non-executive director to the board of Northam (“board”), with effect from 7 November 2017, subject to shareholder approval at the Northam annual general meeting (“AGM”), to be held on Tuesday, 7 November 2017.

Mr Brown is a Chartered Accountant (SA) and is the chief executive officer and executive director of Coal of Africa Limited.  He is also an independent non-executive director of Vodacom Group Limited.  Mr Brown spent almost 14 years at Impala Platinum Holdings Limited, where he held a number of senior management positions including that of financial director and chief executive officer. 

Mr Lazarus Zim, chairman of the board, commented, “Northam is pleased to welcome Mr Brown to the board and we look forward to benefit from his extensive experience in the mining sector, which will further strengthen the company.

Notice of annual general meeting

The AGM of Northam shareholders will be held at Glenhove Conferencing, 52 Glenhove Road, Melrose Estate, Johannesburg, South Africa on Tuesday, 7 November 2017 at 10:00 to transact the business as stated in the notice of AGM, forming part of the summarised annual report 2017 (“notice and summarised annual  report 2017”).

No change statement

Shareholders are advised that the summarised financial statements for the 12 months ended 30 June 2017, as contained in the notice and summarised annual report 2017, will be posted and also distributed electronically to shareholders today, 29 September 2017.  The audited annual financial statements for the year ended 30 June 2017 contain no material modifications to the audited preliminary report published on SENS on 25 August 2017.

The annual integrated report 2017, containing the full audited annual financial statements incorporating the auditors’ report in which Ernst & Young Inc. expressed an unmodified audit opinion, and the notice and summarised annual report 2017, are available on the following link: www.northam.co.za or can be obtained from the company’s registered office on request.

The salient dates of the AGM are as follows:

  2017
Record date to determine which shareholders are entitled to receive the notice and summarised annual report 2017 Friday, 15 September
Posting date of the notice and summarised annual report 2017 Friday, 29 September
Last day to trade in order to be eligible to attend and vote at the annual general meeting Tuesday, 24 October
Record date to determine which shareholders are entitled to attend and vote at the AGM Friday, 27 October
Forms of proxy for the AGM to be lodged by 10:00 on Monday, 6 November
AGM to be held at 10:00 on Tuesday, 7 November
Results of AGM released on SENS on Tuesday, 7 November

Johannesburg
29 September 2017

Sponsor and Debt Sponsor
One Capital

Dealings in securities

In compliance with paragraphs 3.63 to 3.66 of the JSE Limited (“JSE”) Listings Requirements, Northam advises its shareholders of the following dealing by a director of the company.


In compliance with paragraphs 3.63 to 3.66 of the JSE Limited (“JSE”) Listings Requirements, Northam advises its shareholders of the following dealing by a director of the company:

Exercise of Northam options

Name of director Ayanda Zemini Khumalo
Date of transaction 7 September 2017
Nature of transaction Exercise of options, paid out as appreciation cash, in terms of the Northam Share Option Scheme. These options vested on 18 October 2010 and Mr Khumalo is required to exercise these options, on or before 17 October 2017, failing which they will lapse.
Class of securities Appreciation cash in respect of ordinary shares
Number of options 62 500 options and 2 450 claw back options
Price at which options were granted R46.57 for the options and R40.00 for the claw back options
Price at which options were exercised R50.30
Value of transaction R258,360.00
Nature and extent of director’s interest Direct beneficial
Transaction completed on market No
Clearance obtained in terms of paragraph 3.66 of the JSE Listings Requirements Yes

Johannesburg
11 September 2017

Sponsor and Debt Sponsor
One Capital