Announcements 2019

17 Dec 2019

Dealing in securities

In compliance with paragraph 3.63 of the JSE Limited Listings Requirements (“JSE Listings Requirements”), Northam hereby advises its shareholders of the following acceptances of awards of retention shares and performance shares in terms of the Northam Share Incentive Plan (“SIP”), (“Awards”) by directors of the company, a director of a major subsidiary and the company secretary of Northam. These Awards are issued at nil cost and shall be settled in cash upon vesting, subject to the rules of the SIP.


In compliance with paragraph 3.63 of the JSE Limited Listings Requirements (“JSE Listings Requirements”), Northam hereby advises its shareholders of the following acceptances of awards of retention shares and performance shares in terms of the Northam Share Incentive Plan (“SIP”), (“Awards”) by directors of the company, a director of a major subsidiary and the company secretary of Northam. These Awards are issued at nil cost and shall be settled in cash upon vesting, subject to the rules of the SIP.

Name of director Paul Anthony Dunne
Date of award acceptance 13 December 2019
Nature of transaction Acceptance of Awards of ordinary shares in terms of the SIP
Class of securities Award in terms of the SIP
Total number of ordinary shares covered by the
Awards		 71 600
(17 900 retention shares with no performance conditions)
(53 700 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 31 October 2022
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 Aletta Helena Coetzee
Date of award acceptance 13 December 2019
Nature of transaction Acceptance of Awards of ordinary shares in terms
of the SIP
Class of securities Award in terms of the SIP
Total number of ordinary shares covered by the
Awards		 32 280
(8 065 retention shares with no performance conditions)
(24 215 performance shares with performance conditions)
Vesting date 100% of the retention shares and depending onn targets met in terms of the performance conditions, between nil to 135% of the performance shares on
31 October 2022
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 award acceptance 13 December 2019
Nature of transaction Acceptance of Awards of ordinary shares in terms
of the SIP
Class of securities Award in terms of the SIP
Total number of ordinary shares covered by the
Awards		 26 650
(6 660 retention shares with no performance
conditions)
(19 990 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 31 October 2022
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 award acceptance 13 December 2019
Nature of transaction Acceptance of Awards of ordinary shares in terms
of the SIP
Class of securities Award in terms of the SIP
Total number of ordinary shares covered by the
awards		 16 650
(4 160 retention shares with no performance
conditions)
(12 490 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 31 October 2022
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
17 December 2019

Sponsor and Debt Sponsor
One Capital

13 Dec 2019

Northam places R500 million of domestic medium term notes

Northam is pleased to announce that it has completed a private placement of senior, unsecured, floating rate domestic medium term notes (“Notes”) to the value of R500 million (“New Notes”), under Northam’s R5 billion Domestic Medium Term Note Programme (“Programme”).


Northam is pleased to announce that it has completed a private placement of senior, unsecured, floating rate domestic medium term notes (“Notes”) to the value of R500 million (“New Notes”), under Northam’s R5 billion Domestic Medium Term Note Programme (“Programme”). The New Notes have been issued to the Industrial Development Corporation of South Africa Limited (“IDC”) today and listed on the Interest Rate Market of the JSE Limited. The New Notes will mature five years from the date of issue and will attract a floating rate coupon of 3.30% per annum above a 3 month ZAR-JIBAR, with interest payable quarterly.

Proceeds from the New Notes will be applied by Northam towards the recommissioning and development of Northam’s Eland mine, consequently creating new employment opportunities in the region.

Following the placement of the New Notes, the total nominal value of Notes in issue under the Programme will amount to R4.175 billion.

Paul Dunne, Northam’s chief executive, said: “Northam is delighted to have the IDC as a long-term funding partner in the development of its Eland mine and values the IDC’s commitment to job creation in the PGM sector. The IDC funding will contribute towards Eland mine capital expenditure and the 5 year commitment provides Northam with significant long-term funding certainty.”

Johannesburg
13 December 2019

Corporate Advisor, Sponsor and Debt Sponsor to Northam
One Capital

13 Dec 2019

Northam’s Booysendal operations reach a five-year wage settlement

Northam is pleased to advise that wage negotiations at its Booysendal Platinum Proprietary Limited (“Booysendal”) operations with the representative union, the Association of Mineworkers and Construction Union (“AMCU”), have been concluded.


Northam is pleased to advise that wage negotiations at its Booysendal Platinum Proprietary Limited (“Booysendal”) operations with the representative union, the Association of Mineworkers and Construction Union (“AMCU”), have been concluded.

The settlement is effective from 1 July 2019 and assures employees of increases to all major components of remuneration over the next five years. The agreement is in line with industry settlements and takes into consideration the reality of inflationary pressures faced by our employees.

The agreement secures five years of stability in line with delivering the 500 000 oz 4E growth target and has been achieved through a collaborative process typified by mutual respect and consideration and without requiring intervention or mediation by third parties.  The agreement removes substantial uncertainty for our employees and allows a singular focus on the pursuit of safe and sustainable production.

Paul Dunne, Northam’s chief executive said: “We recognise the mature and constructive manner in which the engagement has been undertaken. The agreement provides for continuity, certainty and allows all stakeholders to focus on the sustainability of the business going forward.”

Johannesburg
13 December 2019

Sponsor and Debt Sponsor
One Capital

12 Dec 2019

Listing of new financial instrument – NHM015

The JSE Limited (“JSE”) has granted approval for the listing of NHM015 Senior Unsecured Floating Rate Notes (“Notes”), under the Northam Platinum Limited ZAR5 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 December 2019.


The JSE Limited (“JSE”) has granted approval for the listing of NHM015 Senior Unsecured Floating Rate Notes (“Notes”), under the Northam Platinum Limited ZAR5 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 December 2019.

The details pertaining to NHM015 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR4 175 000 000.00 including this issue
Instrument Code: NHM015
Nominal Amount: ZAR500 000 000.00
Issue Price: 100%
Interest Rate: 3 Month ZAR-JIBAR plus 330 bps, being 10.10% on the first Interest Rate Determination Date (3 Month ZAR-JIBAR as at 11 December 2019 of 6.80% plus 330 bps)
Interest Rate Determination Date(s):       13 March, 13 June, 13 September and 13 December (or the first Business Day of each Interest Period) of each year until the Maturity Date, with the first Interest Rate Determination Date being 11 December 2019
Coupon Rate Indicator: Floating
Issue Date: 13 December 2019
Interest Commencement Date: 13 December 2019
Maturity Date: 13 December 2024
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17h00 on 2 March, 2 June, 2 September and 2 December of each year until the Maturity Date
Books Closed Period: From 3 March to 12 March, 3 June to 12 June, 3 September to 12 September and 3 December to 12 December 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): 13 March, 13 June, 13 September and 13 December of each year until the Maturity Date
ISIN No: ZAG000164922
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/1271-applicable-pricing-supplement-nhm015

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

Johannesburg
12 December 2019

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

Attorneys to Northam in respect of the Notes
Bowman Gilfillan Inc.

10 Dec 2019

Interest payment notification – NHM012

Northam bondholders are advised of the following interest payment due on Friday, 13 December 2019.


Northam bondholders are advised of the following interest payment due on Friday, 13 December 2019:

Bond Code: NHM012
ISIN No: ZAG000160136
Coupon: 10.558%
Interest Period: 13 September 2019 to 12 December 2019
Interest Amount Due: R 2 632 268.49
Payment Date: 13 December 2019
Date Convention: Following Business Day
   

Johannesburg
10 December 2019

Debt Sponsor
One Capital

04 Dec 2019

Interest payments notification – NHM013

Northam bondholders are advised of the following interest payment due on Monday, 9 December 2019:


Northam bondholders are advised of the following interest payment due on Monday, 9 December 2019:

Bond Code: NHM013
ISIN No: ZAG000162181
Coupon: 9.208%
Interest Period: 9 September 2019 to 8 December 2019
Interest Amount Due: R 11 478 465.75
Payment Date: 9 December 2019
Date Convention: Following Business Day

Johannesburg
4 December 2019

Debt Sponsor
One Capital

20 Nov 2019

Media release: Northam places R1.35 billion of domestic medium-term notes

Northam is pleased to announce that it has completed a private placement of domestic medium-term notes to the value of R1.35 billion in an oversubscribed bookbuild, under Northam’s R5 billion domestic medium-term note programme. The New Notes were issued today on the Interest Rate Market of the JSE Limited as announced on SENS on 19 November 2019 and will mature two years from the date of issue. The New Notes attract a floating rate coupon of 2.50% per annum above a three-month ZAR-JIBAR and interest will be payable quarterly.


Johannesburg, Wednesday 20 November 2019. Northam is pleased to announce that it has completed a private placement of domestic medium-term notes to the value of R1.35 billion in an oversubscribed bookbuild, under Northam’s R5 billion domestic medium-term note programme. The New Notes were issued today on the Interest Rate Market of the JSE Limited as announced on SENS on 19 November 2019 and will mature two years from the date of issue. The New Notes attract a floating rate coupon of 2.50% per annum above a three-month ZAR-JIBAR and interest will be payable quarterly.

The proceeds from the New Notes will be applied towards Northam’s revolving credit facility, thereby increasing the available undrawn balance and lowering the effective cost of funding under the RCF over time.

Following the placement of the New Notes, the total nominal value of Notes in issue under the Programme will amount to R3.675 billion.  

Issued by R&A Strategic Communications, Johannesburg, Tel +27 (0)11 880 3924;
Marion Brower +27 71 493 0387

20 Nov 2019

SENS: Northam places R1.35 billion of domestic medium term notes

Northam is pleased to announce that it has completed a private placement of domestic medium term notes to the value of R1.35 billion in an oversubscribed bookbuild, under Northam’s R5 billion Domestic Medium Term Note Programme.


Northam is pleased to announce that it has completed a private placement of domestic medium term notes (“Notes”) to the value of R1.35 billion (“New Notes”) in an oversubscribed bookbuild, under Northam’s R5 billion Domestic Medium Term Note Programme (“Programme”). The New Notes were issued today on the Interest Rate Market of the JSE Limited as announced on SENS on 19 November 2019 and will mature two years from the date of issue. The New Notes attract a floating rate coupon of 2.50% per annum above a 3 month ZAR-JIBAR and interest will be payable quarterly.

The proceeds from the New Notes will be applied towards Northam’s revolving credit facility (“RCF”), thereby increasing the available undrawn balance and lowering the effective cost of funding under the RCF over time.

Following the placement of the New Notes, the total nominal value of Notes in issue under the Programme will amount to R3.675 billion.  

Johannesburg
20 November 2019

Corporate Advisor, Sponsor and Debt Sponsor to Northam
One Capital

Sole Arranger and Dealer 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.

20 Nov 2019

Interest payments notification – NHM010 and NHM011

Northam bondholders are advised of the following interest payments due on Monday, 25 November 2019:


Northam bondholders are advised of the following interest payments due on Monday, 25 November 2019:

Bond Code: NHM010
ISIN No: ZAG000159229
Coupon: 9.217%
Interest Period: 26 August 2019 to 24 November 2019
Interest Amount Due: R1 148 968.49
Payment Date: 25 November 2019
Date Convention: Following Business Day
Bond Code: NHM011
ISIN No: ZAG000159237
Coupon: 10.567%
Interest Period: 26 August 2019 to 24 November 2019
Interest Amount Due: R13 172 561.64
Payment Date: 25 November 2019
Date Convention: Following Business Day

Johannesburg
20 November 2019

Debt Sponsor
One Capital

19 Nov 2019

Listing of new financial instrument – NHM014

The JSE Limited has granted approval for the listing of NHM014 Senior Unsecured Floating Rate Notes (“Notes”), under the Northam Platinum Limited ZAR5 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 20 November 2019.


The JSE Limited (“JSE”) has granted approval for the listing of NHM014 Senior Unsecured Floating Rate Notes (“Notes”), under the Northam Platinum Limited ZAR5 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 20 November 2019.

The details pertaining to NHM014 are as follows:

Instrument Type:

 Senior Unsecured Floating Rate Notes

Total Notes in Issue:

 ZAR3 675 000 000.00 including this issue

Instrument Code:

 NHM014

Nominal Amount:

 ZAR1 350 000 000.00

Issue Price:

 100%

Interest Rate:

 3 Month ZAR-JIBAR plus 250 bps, being 9.30% on the first Interest Rate Determination Date (3 Month ZAR-JIBAR as at 18 November 2019 of 6.80% 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, with the first Interest Rate Determination Date being 18 November 2019

Coupon Rate Indicator:

 Floating

Issue Date:

 20 November 2019

Interest Commencement Date:

 20 November 2019

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 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/1270-applicable-pricing-supplement-nhm014

 

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

Johannesburg
19 November 2019

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

Attorneys to Northam in respect of the Notes
Bowman Gilfillan Inc.