Proposed acquisition by Northam of all or a portion of the issued ordinary shares in Royal Bafokeng Platinum Limited (“RBPlat”), (the “RBPlat shares”), incorporating a firm intention announcement in respect of an offer by Northam Holdings to acquire the remaining RBPlat shares, excluding treasury shares

Announcements 2022

Voluntary offer by Northam Holdings to acquire all or a portion of the remaining RBPlat Shares
Offer consideration of R172.70 per RBPlat Share, determined as R180.50 paid to Royal Bafokeng Holdings less dividends declared by RBPlat in March 2022 and August 2022
Offer consideration to be settled fully in cash or, subject to the level of acceptance of the offer, a combination of cash and Northam Holdings shares. The minimum cash consideration per RBPlat Share amounts to R54.40, assuming full acceptance of the offer
The offer consideration represents a 20.3% premium to the 30 trading day VWAP of an RBPlat Share as at 8 November 2022
The offer is underpinned by a compelling rationale for all stakeholders of both Northam and RBPlat, including shareholders, employees and host and affected communities
RBPlat employees and host and affected communities will participate in Northam’s approved extended broad-based black economic empowerment transaction, should Northam acquire a majority shareholding in RBPlat