Announcements 2019

Northam is pleased to announce that it has increased its existing revolving credit facilities (“RCF”) by R500 million, from R3 billion to R3.5 billion. In addition a new R500 million general banking facility (“GBF”) has been secured.

The maturity date of Northam’s existing R1 billion RCF has been extended to match that of its existing R2 billion RCF and both of these facilities, as well as the R500 million increase, have been combined into a single R3.5 billion RCF maturing on 29 November 2021. The interest rate on the total RCF remains unchanged and the GBF will accrue interest at a variable rate of prime less 1.5%.

Paul Dunne, Northam’s Chief Executive said “The R1 billion increase in available facilities is in addition to the placement of R1.65 billion of domestic medium term notes announced on 16 April 2019, and further strengthens Northam’s balance sheet. This additional funding flexibility will enable Northam to further return value to shareholders, in due course, through a repurchase of ordinary shares and/or a purchase of Zambezi preference shares”.

Johannesburg
31 May 2019

Corporate Advisor, Sponsor and Debt Sponsor to Northam
One Capital

Northam bondholders (“Bondholders”) are advised of the following interest payment due on Monday, 20 May 2019:

Bondholders are further advised, in accordance with the Terms and Conditions of the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, of the full capital redemption of the NHM005 note, effective Monday, 20 May 2019.

Johannesburg
14 May 2019

Debt Sponsor
One Capital

Northam bondholders are advised of the following interest payment due on Monday, 13 May 2019:

7 May 2019

Debt Sponsor
One Capital

Northam is pleased to announce that it has completed a private placement of domestic medium term notes (“Notes”) to the value of R1.65 billion (“New Notes”) under Northam’s R2 billion Domestic Medium Term Note Programme (the “Programme”). The New Notes will mature over a one year (R250 million), two year (R250 million) and three year (R1.15 billion) term from the date of issue. The one year, two year and three year New Notes will attract a floating rate coupon of 2.40%, 3.25% and 3.75% above a 3 month ZAR-JIBAR per annum, respectively. Interest on the New Notes is payable quarterly.

The initial proceeds from the New Notes will be applied towards settling existing Notes in issue which mature on 20 April 2019 (NHM004) (payment date 23 April 2019), 18 May 2019 (NHM005) (payment date 20 May 2019) and 9 June 2019 (NHM003) (payment date 10 June 2019), respectively (collectively, “Maturing Notes”).  The Maturing Notes have an aggregate nominal value, excluding interest, of R1.25 billion. Upon completion of the issuing of the New Notes and settlement of the Maturing Notes, the total value of Notes in issue will increase by R400 million.

An aggregate amount of R550 million of the New Notes will be issued today on the Interest Rate Market of the JSE Limited, as announced on SENS on 15 April 2019. This issue comprises a tranche of R250 million two year senior unsecured floating rate Notes (NHM006) and a tranche of R300 million three year senior unsecured floating rate Notes (NHM007).

The remaining tranches of the New Notes, with a total value of R1.1 billion (“Outstanding New Notes”), will be issued during the months of April, May and June 2019, to coincide with the maturity dates of the Maturing Notes and subject to the terms of the Programme, in terms of which the maximum aggregate nominal value of Notes in issue is limited to R2 billion at any point in time. Further detailed announcements pertaining to the issue of the Outstanding New Notes will be published on SENS in due course.

The issue of three year term Notes with an aggregate nominal value of R1.15 billion aligns with Northam’s medium term intention to repurchase Northam ordinary shares and/or purchase Zambezi Platinum (RF) Limited preference shares (“Zambezi Preference Shares”).

Paul Dunne, Northam’s Chief Executive said “Northam is pleased to maintain its balance sheet strength and funding flexibility in order to complete its various growth projects and, in due course, to commence a programme of repurchasing its ordinary shares and/or purchasing Zambezi Preference Shares to return value to shareholders.”

Johannesburg
16 April 2019

Corporate Advisor and JSE Sponsor to Northam
One Capital

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.

Northam bondholders (“Bondholders”) are advised of the following interest payment due on Tuesday, 23 April 2019:

Bondholders are further advised, in accordance with the Terms and Conditions of the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, of the full capital redemption of the NHM004 note, effective Tuesday, 23 April 2019.

Johannesburg
12 April 2019