Announcements 2022
- 28 Oct 2022
Northam's long-term credit rating upgraded, increase in banking facilities and settlement of amounts due to RBH
Northam Holdings and Northam Platinum are pleased to advise that the credit rating agency, Global Credit Rating Company
UPGRADE TO NORTHAM PLATINUM’S CREDIT RATING
Northam Holdings and Northam Platinum are pleased to advise that the credit rating agency, Global Credit Rating Company
Limited (“GCR”), has upgraded Northam Platinum’s national scale long-term credit rating to A+(za) from A(za), with the short-term credit rating re-affirmed at A1(za) and the outlook accorded as Stable.
The upgrade of Northam Platinum’s rating is in view of Northam Platinum’s enhanced liquidity position with significant financial flexibility, along with the expectation that the Group will continue to deliver a strong operating performance in various price scenarios. GCR notes that Northam Platinum continues to sustain high profitability levels, stemming from its ongoing ramp-up in production and its high-quality, competitive cost assets.
The GCR announcement in regard to Northam’s credit rating is available from the GCR website at: https://gcrratings.com/category/announcements/.
INCREASE IN AVAILABLE BANKING FACILITIES
Northam is pleased to announce that it has concluded agreements in terms of which its five-year R4 billion revolving credit facility (“RCF”) maturing in September 2024 (“Previous RCF”), has been refinanced and increased on more favourable terms. The new five-year R5.705 billion RCF (“New RCF”) will mature in August 2027 and has a nominal interest rate of between JIBAR plus 2.40% (at the lower end of utilisation) and JIBAR plus 2.80% (at the upper end of utilisation). This compares favourably to the nominal interest rate in respect of the Previous RCF of between JIBAR plus 2.55% (at the lower end of utilisation) and JIBAR plus 2.95% (at the upper end of utilisation).
In addition, Northam has settled its R3 billion bridge facility which had a final maturity date in December 2022 and has secured a new five-year term loan facility of R2.445 billion (“Term Loan”), maturing in August 2027 with a nominal interest rate of three-month JIBAR plus 2.50%.
The New RCF together with the Term Loan (collectively, the “Facilities”) and Northam’s existing R1 billion general banking facilities, increase Northam’s available banking facilities to R9.15 billion, on more favourable terms.
SETTLEMENT OF ALL OUTSTANDING AMOUNTS OWING TO RBH
Northam confirms that it has settled all amounts owing to Royal Bafokeng Holdings Proprietary Limited and its subsidiaries (collectively, “RBH”) in respect of the acquisition of a material interest in Royal Bafokeng Platinum Limited (“RBPlat”) from RBH, as announced on 9 November 2021. As a result, Northam’s shareholding in RBPlat is entirely unencumbered.
Northam’s current shareholding in RBPlat comprises 100 219 552 RBPlat shares (representing c. 34.52% of the total RBPlat shares in issue) with a current market value of approximately R14.6 billion based on the closing price per RBPlat share of R146.04 on 27 October 2022.
Alet Coetzee, Northam’s Chief Financial Officer, said “Northam is pleased to receive external recognition of its strong liquidity position and the continued success of its growth strategy, as affirmed by the upgraded credit rating. Northam remains appreciative of the continued support from its lenders.”
Johannesburg
28 October 2022
- 25 Oct 2022
Engagement with shareholders regarding the group’s remuneration policy and remuneration implementation report for the year ended 30 June 2022
Northam Holdings shareholders (“shareholders”) are referred to the annual general meeting of shareholders (“AGM”) held today, 25 October 2022, as well as the announcement pertaining to the voting results of the resolutions presented at the AGM (“announcement”) published on SENS on the same date.
Northam Holdings shareholders (“shareholders”) are referred to the annual general meeting of shareholders (“AGM”) held today, 25 October 2022, as well as the announcement pertaining to the voting results of the resolutions presented at the AGM (“announcement”) published on SENS on the same date.
As noted in the announcement, more than 25% of the votes cast by shareholders present or represented by proxy at the AGM on ordinary resolutions 4.1 and 4.2 were exercised against the non-binding endorsement of the group’s remuneration policy and remuneration implementation report (“non-binding advisory resolutions”). Therefore, in accordance with the JSE Limited Listings Requirements and the recommendations of the King IV Report on Corporate Governance for South Africa, 2016, the company has invited dissenting shareholders (being shareholders who voted against any of the non-binding advisory resolutions) to send their comments / concerns / questions / recommendations regarding the group’s remuneration policy and/or remuneration implementation report, in writing, to Ms PB Beale, the company secretary of Northam, at trish.beale@norplats.co.za, to be received by no later than close of business on Thursday, 15 December 2022.
The company's remuneration committee endeavours to ensure that remuneration across the group is aligned with the group’s strategy and creates sustainable value for all stakeholders. We believe that open, transparent and meaningful engagement with shareholders is important to continually mature the remuneration policies and practices of the group. We therefore look forward to engaging with shareholders.
Johannesburg
25 October 2022
Corporate Advisor and Sponsor to Northam Holdings
One Capital
Attorneys to Northam Holdings and Northam Platinum
Webber Wentzel
Corporate Advisor and Debt Sponsor to Northam Platinum
One Capital
- 25 Oct 2022
Results of annual general meeting
Northam Holdings shareholders (“shareholders”) are advised that at the annual general meeting of shareholders held on Tuesday, 25 October 2022 (“AGM”), all the ordinary resolutions (other than the non-binding resolutions 4.1 and 4.2) and special resolutions, as set out in the notice of AGM dated Tuesday, 16 August 2022, were passed 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.
Northam Holdings shareholders (“shareholders”) are advised that at the annual general meeting of shareholders held on Tuesday, 25 October 2022 (“AGM”), all the ordinary resolutions (other than the non-binding resolutions 4.1 and 4.2) and special resolutions, as set out in the notice of AGM dated Tuesday, 16 August 2022, were passed 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.Each resolution proposed at the AGM, together with the number and percentage of Northam Holdings ordinary shares (“shares”) voted, the percentage of shares in respect of which shareholders abstained from voting and the percentage of votes carried for and against each resolution, are as follows:Ordinary resolution number 1.1 – re-election of Mr JG Smithies as a director
Shares voted | For | Against | Abstained |
335 324 906 | 99.85% | 0.15% | 0.08% |
84.55% |
Ordinary resolution number 1.2 – re-election of Ms TE Kgosi as a director
Shares voted | For | Against | Abstained |
335 304 349 | 91.19% | 8.81% | 0.09% |
84.54% |
Ordinary resolution number 1.3 – re-election of Ms HH Hickey as a director
Shares voted | For | Against | Abstained |
335 304 349 | 92.68% | 7.32% | 0.09% |
84.54% |
Ordinary resolution number 2 – appointment of Pricewaterhouse Coopers Inc. (with the designated external audit partner being Mr AJ Rossouw CA(SA)) as the independent external auditors of the group
Shares voted | For | Against | Abstained |
335 304 809 | 99.87% | 0.13% | 0.09% |
84.54% |
Ordinary resolution number 3.1 – election of Ms HH Hickey as a member of the audit and risk committee
Shares voted | For | Against | Abstained |
335 304 219 | 99.51% | 0.49% | 0.09% |
84.54% |
Ordinary resolution number 3.2 – election of Dr NY Jekwa as a member of the audit and risk committee
Shares voted | For | Against | Abstained |
335 304 219 | 99.67% | 0.33% | 0.09% |
84.54% |
Ordinary resolution number 3.3 – election of Mr MH Jonas as a member of the audit and risk committee
Shares voted | For | Against | Abstained |
335 304 219 | 95.55% | 4.45% | 0.09% |
84.54% |
Ordinary resolution number 4.1 * – non-binding endorsement of the group’s remuneration policy
Shares voted | For | Against | Abstained |
335 301 049 | 43.52% | 56.48% | 0.09% |
84.54% |
Ordinary resolution number 4.2 * – non-binding endorsement of the group’s remuneration implementation report
Shares voted | For | Against | Abstained |
335 301 049 | 44.01% | 55.99% | 0.09% |
84.54% |
Special resolution number 1 – approval of non-executive directors’ fees
Shares voted | For | Against | Abstained |
335 304 262 | 97.82% | 2.18% | 0.09% |
84.54% |
Special resolution number 2 – approval of financial assistance in terms of sections 44 and 45 of the Companies Act No. 71 of 2008
Shares voted | For | Against | Abstained |
335 304 219 | 94.72% | 5.28% | 0.09% |
84.54% |
Special resolution number 3 – approval for the general authority to repurchase issued shares
Shares voted | For | Against | Abstained |
335 286 202 | 80.20% | 19.80% | 0.09% |
84.54% |
*As more than 25% of the votes cast by shareholders present or represented by proxy at the AGM on ordinary resolutions 4.1 and 4.2, respectively, were against the non-binding endorsement of the group’s remuneration policy and the non-binding endorsement of the group’s remuneration implementation report, the company will continue to engage with dissenting shareholders (i.e. those shareholders who voted against the group’s remuneration policy and/or remuneration implementation report) and hereby invites such shareholders to send comments / concerns / questions relating to the group’s remuneration policy and/or remuneration implementation report, in writing, to Ms PB Beale, the company secretary of Northam, via email at trish.beale@norplats.co.za, to be received by no later than close of business on Thursday, 15 December 2022.Notes
- The total number of shares eligible to vote at the AGM was 396 615 877. 1 share is held in treasury and not eligible to vote at the AGM.
- Percentages of shares voted are calculated in relation to the total issued share capital of Northam Holdings, amounting to 396 615 878 shares.
- Percentage of shares voted for and against are calculated in relation to the total number of shares voted in respect of the relevant resolution.
- Abstentions are calculated as a percentage in relation to the total issued share capital of Northam Holdings.
Johannesburg
25 October 2022
Corporate Advisor and Sponsor to Northam Holdings
One Capital
Attorneys to Northam Holdings and Northam Platinum
Webber Wentzel
Corporate Advisor and Debt Sponsor to Northam Platinum
One Capital
- 20 Oct 2022
Listing of New Financial Instrument – NHM023
The JSE Limited (“JSE”) has granted approval for the listing of NHM023 Senior Unsecured Floating Rate Notes (“Notes”) under series NHM023 issued under the Northam Platinum Limited ZAR15 000 000 000 Domestic Medium Term Note Programme (“Programme”), dated 29 October 2020, as amended and supplemented from time to time (“Programme Memorandum”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 21 October 2022.
The JSE Limited (“JSE”) has granted approval for the listing of NHM023 Senior Unsecured Floating Rate Notes (“Notes”) under series NHM023 issued under the Northam Platinum Limited ZAR15 000 000 000 Domestic Medium Term Note Programme (“Programme”), dated 29 October 2020, as amended and supplemented from time to time (“Programme Memorandum”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 21 October 2022.
Any capitalised terms not defined in this announcement shall have the meanings ascribed thereto in the section of the Programme Memorandum headed “Terms and Conditions of the Notes”.
The details pertaining to the issue of NHM023 are as follows:
Instrument Type: | Senior Unsecured Floating Rate Notes |
Total Notes in Issue: | ZAR14 999 836 845 (inclusive of this issue of Notes) |
Instrument Code: | NHM023 |
Nominal Amount: | ZAR243 000 000 |
Issue Price: | 100% |
Interest Rate: | 3 Month ZAR-JIBAR plus 300 bps per annum |
Interest Rate Determination Date(s): | 21 January, 21 April, 21 July and 21 October (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 October 2022 |
Coupon Rate Indicator: | Floating Rate |
Issue Date: | 21 October 2022 |
Interest Commencement Date: | 21 October 2022 |
Maturity Date: | 21 October 2025 |
Final Redemption Amount: | 100% of Nominal Amount |
Last Day to Register: | By 17h00 on 10 January, 10 April, 10 July and 10 October of each year until the Maturity Date, or if such day is not a Business Day, the Business Day preceding the Books Closed Period |
Books Closed Period: | 11 January to 20 January, 11 April to 20 April, 11 July to 20 July and 11 October to 20 October of each year until the Maturity Date (all dates inclusive), or if any early redemption occurs, 10 Days prior to the actual Redemption Date |
Floating Interest Payment Date(s): | 21 January, 21 April, 21 July and 21 October of each year until the Maturity Date 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, with the first Floating Interest Payment Date being 21 January 2023 |
International Securities Identification Number (ISIN): | ZAG000190968 |
Applicable Business Day Convention: | Following Business Day |
Other: | The applicable pricing supplement (“APS”) does not contain additional terms and conditions or changes to the terms and conditions as contained in the Programme. The APS is available on Northam’s website: https://www.northam.co.za/downloads/send/96-files/1488-applicable-pricing-supplement-nhm023-execution |
The Notes will be dematerialised in the Central Securities Depository (CSD) and settlement will take place electronically in terms of the JSE rules.
Johannesburg
20 October 2022
Sole Arranger, Dealer and Debt Sponsor to Northam in respect of the Programme
One Capital
Attorneys to Northam, the Arranger and the Dealer in respect of the Programme
Bowman Gilfillan Inc.
- 03 Oct 2022
Availability of the broad-based black economic empowerment annual compliance verification certificate
Shareholders are hereby advised that, in accordance with the JSE Limited Listings Requirements, the company’s annual compliance verification certificate prepared in accordance with section 13(G)(2) of the Broad-Based Black Economic Empowerment Act, No. 53 of 2003, as amended, is available on the company’s website via the following link:
https://www.northam.co.za/downloads/send/148-governance/1487-broad-based-bee-rating-annexure-a-and-certificate
Shareholders are hereby advised that, in accordance with the JSE Limited Listings Requirements, the company’s annual compliance verification certificate prepared in accordance with section 13(G)(2) of the Broad-Based Black Economic Empowerment Act, No. 53 of 2003, as amended, is available on the company’s website via the following link:
https://www.northam.co.za/downloads/send/148-governance/1487-broad-based-bee-rating-annexure-a-and-certificate
Johannesburg
3 October 2022
Corporate Advisor and Sponsor to Northam Holdings
One Capital
Attorneys to Northam Holdings and Northam Platinum
Webber Wentzel
Corporate Advisor and Debt Sponsor to Northam Platinum
One Capital
- 30 Sep 2022
Release of annual financial statements of the guarantor
Northam wishes to advise noteholders that the annual financial statements of Booysendal Platinum Proprietary Limited for the year ended 30 June 2022 and the independent auditor’s unmodified report thereon, are available on the Northam website at https://www.northam.co.za/downloads/send/161-fy2022/1484-booysendal-afs-30june2022 and available for inspection, during office hours, at the registered office of the Company.
Johannesburg
30 September 2022
Debt Sponsor
One Capital
- 22 Sep 2022
Listing of new financial instrument - NHM022
The JSE Limited (“JSE”) has granted approval for the listing of NHM022 Senior Unsecured Floating Rate Notes (“Notes”) under series NHM022 issued under the Northam Platinum Limited ZAR15 000 000 000 Domestic Medium Term Note Programme (“Programme”), dated 29 October 2020, as amended and supplemented from time to time (“Programme Memorandum”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 23 September 2022.
The JSE Limited (“JSE”) has granted approval for the listing of NHM022 Senior Unsecured Floating Rate Notes (“Notes”) under series NHM022 issued under the Northam Platinum Limited ZAR15 000 000 000 Domestic Medium Term Note Programme (“Programme”), dated 29 October 2020, as amended and supplemented from time to time (“Programme Memorandum”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 23 September 2022.
Any capitalised terms not defined in this announcement shall have the meanings ascribed thereto in the section of the Programme Memorandum headed “Terms and Conditions of the Notes”.
The details pertaining to the issue of NHM022 are as follows:
Instrument Type: | Senior Unsecured Floating Rate Notes |
Total Notes in Issue: | ZAR14 756 836 845 (inclusive of this issue of Notes) |
Instrument Code: | NHM022 |
Nominal Amount: | ZAR3 500 000 000 |
Issue Price: | 100% |
Interest Rate: | 3 Month ZAR-JIBAR plus 375 bps per annum |
Interest Rate Determination Date(s): | 23 December, 23 March, 23 June and 23 September (or the first Business Day of each Interest Period) of each year until the Maturity Date with the first Interest Rate Determination Date being 20 September 2022 |
Coupon Rate Indicator: | Floating Rate |
Issue Date: | 23 September 2022 |
Interest Commencement Date: | 23 September 2022 |
Maturity Date: | 23 September 2027 |
Final Redemption Amount: | 100% of Nominal Amount |
Last Day to Register: | By 17h00 on 12 December, 12 March, 12 June and 12 September of each year until the Maturity Date, or if such day is not a Business Day, the Business Day preceding the Books Closed Period |
Books Closed Period: | 13 December to 22 December, 13 March to 22 March, 13 June to 22 June and 13 September to 22 September of each year until the Maturity Date (all dates inclusive), or if any early redemption occurs, 10 Days prior to the actual Redemption Date |
Floating Interest Payment Date(s): | 23 December, 23 March, 23 June and 23 September of each year until the Maturity Date 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, with the first Floating Interest Payment Date being 23 December 2022 |
International Securities Identification Number (ISIN): | ZAG000190133 |
Applicable Business Day Convention: | Following Business Day |
Other: | The applicable pricing supplement (“APS”) does not contain additional terms and conditions or changes to the terms and conditions as contained in the Programme. The APS is available on Northam’s website: https://www.northam.co.za/downloads/send/96-files/1483-applicable-pricing-supplement-nhm022-execution |
The Notes will be dematerialised in the Central Securities Depository (CSD) and settlement will take place electronically in terms of the JSE rules.
Johannesburg
22 September 2022
Sole Arranger, Dealer and Debt Sponsor to Northam in respect of the Programme
One Capital
Attorneys to Northam, the Arranger and the Dealer in respect of the Programme
Bowman Gilfillan Inc.
- 08 Sep 2022
Interest payment notification - NHM015
Northam bondholders are advised of the following interest payment due on Tuesday, 13 September 2022:
Northam bondholders are advised of the following interest payment due on Tuesday, 13 September 2022:
Bond Code: | NHM015 |
ISIN: | ZAG000164922 |
Coupon: | 8.217% per annum |
Interest Period: | 13 June 2022 to 12 September 2022 |
Interest Amount Due: | R10 355 671.23 |
Payment Date: | 13 September 2022 |
Date Convention: | Following Business Day |
Johannesburg
8 September 2022
Debt Sponsor
One Capital
- 26 Aug 2022
Availability of annual financial statements of the company – NHMI
Northam bondholders are hereby advised that the company’s annual financial statements for the year ended 30 June 2022, which incorporate the auditor’s unmodified audit report thereon, are available on the Northam website at https://www.northam.co.za/investors-and-media/publications/financials and available for inspection, during office hours, at the registered office of the company.
Northam bondholders are hereby advised that the company’s annual financial statements for the year ended 30 June 2022, which incorporate the auditor’s unmodified audit report thereon, are available on the Northam website at https://www.northam.co.za/investors-and-media/publications/financials and available for inspection, during office hours, at the registered office of the company.
Johannesburg
26 August 2022
- 26 Aug 2022
Audited Group Annual Results for the year ended 30 June 2022 and Notice of Annual General Meeting
Notwithstanding the array of challenges faced during the year under review, our operations collectively achieved a steady increase in production and our growth projects remain on track.
Key financial features
- Revenue of R34.1 billion.
- Operating profit of R14.9 billion.
- EBITDA of R16.5 billion (EBITDA margin of 48.3%).
- Normalised headline earnings of R10.2 billion, equating to R25.74 per share.
- Profit after tax of R9.8 billion.
- Earnings per share of R26.15 and headline earnings per share of R26.11.
- Net debt of R16.0 billion (Net Debt to EBITDA of 0.97).
Production and unit cash costs
Notwithstanding the array of challenges faced during the year under review, our operations collectively achieved a steady increase in production and our growth projects remain on track.
A key feature during the year under review has been the difficult operational environments at the Zondereinde and Booysendal mines. During the first half of the financial year, Zondereinde tragically suffered two mining related fatalities, together with increased medical absences relating to the COVID-19 pandemic. Booysendal was affected by regional community unrest, which impacted the entire eastern Bushveld region, throughout the financial year. This resulted in lost production shifts. Booysendal was also affected by the intersection of a lower grade reef package in the upper southern portion of the North UG2 mine, which led to a decrease in concentrator feed grade. These challenges and external events negatively impacted the group’s metal production and unit cash costs during the financial year.
Despite the aforementioned challenges, the group’s equivalent refined metal from own operations increased to 716 488 oz 4E (F2021: 690 867 oz 4E). Zondereinde recorded improved production during the second half of the financial year, whilst production growth from Booysendal was lower than forecast as a result of lower grade mined at Booysendal North.
In respect of our current expansionary projects, development of the Western extension at Zondereinde has progressed well; Booysendal has made good progress on South mine whilst recording 7 million fatality free shifts and remaining fatality free since inception; and Eland continues its ramp-up, with the addition of the recently acquired Maroelabult section adding considerable synergistic benefits.
Group unit cash costs per equivalent refined platinum ounce increased by 18.9% to R34 069/Pt oz (F2021: R28 662/Pt oz) on the back of cost increases at all of the operations. Cash costs per equivalent refined platinum ounce increased by 14.8% at Zondereinde to R34 828/Pt oz (F2021: R30 350/Pt oz), 21.9% at Booysendal to R25 321/Pt oz (F2021: R20 780/Pt oz), and 29.5% at Eland to R55 594/Pt oz (F2021: R42 928/Pt oz). These increases were primarily driven by (i) above-inflationary increases in chemicals, steel components, emulsion explosives and fuel, (ii) an increase in the number of employees in service as the group continues to grow the labour complement to enable the planned expanded production profile together with the negotiated wage increase for our employees, and (iii) lower concentrator feed grades from the Booysendal North UG2 mine.
Capital expenditure
Capital expenditure increased to R4.6 billion (F2021: R3.3 billion). This is in line with our capital schedule and is the combined result of increased expansionary capital of R3.1 billion (F2021: R1.8 billion), together with a marginal decrease in sustaining capital expenditure to R1.4 billion (F2021: R1.5 billion).
Expansionary capital expenditure increased as a result of significant development on the Western extension project at Zondereinde, together with the ongoing ramp-up at Eland. Sustaining capital expenditure at Booysendal increased due to a number of extensions to strike belts and the first significant fleet replacements, whilst sustaining capital requirements at our metallurgical operations decreased following the commissioning of the rebuilt smelter furnace 1 at Zondereinde.
Financial highlights
|
30 June 2022 | 30 June 2021 | % Variance | |
Sales revenue | R000 | 34 064 270 | 32 626 918 | 4.4 |
Operating profit | R000 | 14 885 101 | 16 107 293 | (7.6) |
Operating profit margin | % | 43.7 | 49.4 | (11.5) |
Normalised headline earnings | R000 | 10 208 024 | 10 867 830 | (6.1) |
Earnings per share | cents | 2 614.9 | 2 681.8 | (2.5) |
Headline earnings per share | cents | 2 611.1 | 2 687.9 | (2.9) |
Normalised headline earnings per share | cents | 2 573.8 | 2 131.9 | 20.7 |
EBITDA | R000 | 16 462 860 | 16 655 317 | (1.2) |
EBITDA margin | % | 48.3 | 51.0 | (5.3) |
Capital expenditure | R000 | 4 570 223 | 3 332 204 | 37.2 |
Returning meaningful value to our shareholders
There are a number of ways in which Northam can return value to its shareholders, including cash dividends, share buy-backs and, previously, the purchase of Zambezi Platinum (RF) Proprietary Limited (previously Zambezi Platinum (RF) Limited) (“Zambezi”) preference shares.
The group has returned R20.6 billion of value to shareholders over the last two financial years (F2022 and F2021) through the acquisition of Zambezi preference shares and Northam Platinum shares, which collectively culminated in a 28.9% reduction in the group’s issued share capital through the early maturity of the Zambezi BEE transaction.
The company is currently at a critical juncture in our growth trajectory, with various potential alternative outcomes which remain to be determined. These outcomes will inform our approach to dividends.
The board of directors of the company (“board”) has therefore resolved not to declare a final dividend for the year ended 30 June 2022 (F2021: R Nil per share).
ANNUAL GENERAL MEETING
The annual general meeting of shareholders (“AGM”) will be held on Tuesday, 25 October 2022 at 10:00 to transact the business as stated in the Notice of the 2022 Annual General Meeting (“notice of 2022 AGM”).
The AGM will be held entirely by way of electronic participation. Shareholders are encouraged to read the notice of 2022 AGM for information on how to electronically attend, participate in and vote at the AGM.
Shareholders are advised that the notice of 2022 AGM, containing the summarised audited annual financial statements for the year ended 30 June 2022, will be distributed to shareholders today, 26 August 2022.
The annual integrated report for the year ended 30 June 2022, the complete consolidated audited annual financial statements which incorporates the external auditor’s report in which Ernst & Young Inc. expressed an unmodified audit opinion and the notice of 2022 AGM, are available on the company’s website at https://www.northam.co.za/investors-and-media/publications/annual-reports or can be obtained from the company’s registered office on request.
The salient dates for the AGM are as follows:
2022 | |
Record date to determine which shareholders are entitled to receive the notice of 2022 AGM, on | Friday, 19 August |
Distribution of the notice of 2022 AGM to shareholders, on | Friday, 26 August |
Last date to trade in order to be recorded in the register to be able to electronically attend, participate in and vote at the AGM, on | Tuesday, 11 October |
Record date to determine which shareholders are entitled to electronically attend, participate in and vote at the AGM, on | Friday, 14 October |
For administration purposes, forms of proxy to be lodged by 10:00 (SA time), on * | Friday, 21 October |
AGM to be held at 10:00 (SA time), on |
Tuesday, 25 October |
Results of AGM expected to be published on SENS, on | Tuesday, 25 October |
* Any forms of proxy not lodged by this date and time must be submitted electronically to the chairperson of the AGM before the start of the AGM, as set out in the notice of 2022 AGM, before the appointed proxy may exercise any rights of the shareholder at the AGM.
This short-form announcement is the responsibility of the directors of the company and is only a summary of the information contained in the full results announcement and does not contain full or complete details.
Any investment decision should be based on the full results announcement accessible via the JSE link at https://senspdf.jse.co.za/documents/2022/JSE/ISSE/NPHE/AFS_2022.pdf and available on Northam’s website at https://www.northam.co.za/investors-and-media/publications/annual-reports
The consolidated audited annual financial statements, from which the full results announcement has been extracted, have been audited by Ernst & Young Inc. The key audit matters contained in the auditor’s report are addressed on page 15 of the consolidated audited annual financial statements, which are available on Northam’s website at https://www.northam.co.za/investors-and-media/publications/annual-reports
The full results announcement and the consolidated audited annual financial statements for the year ended 30 June 2022, incorporating the auditor’s report, are also available at our registered office and at the offices of our sponsor for inspection, at no charge, during office hours.
On behalf of the board at Johannesburg on 26 August 2022.
TI Mvusi Independent non-executive chairman
PA Dunne Chief executive officer
Directors | |
TI Mvusi | (independent non-executive chairman) |
HH Hickey | (lead independent non-executive director) |
PA Dunne * | (chief executive officer) |
AH Coetzee | (chief financial officer) |
GT Lewis * | (independent non-executive director) |
NY Jekwa | (independent non-executive director) |
MH Jonas | (independent non-executive director) |
TE Kgosi | (non-executive director) |
JG Smithies * | (independent non-executive director) |
* British
Registered office
Building 4, 1st Floor, Maxwell Office Park
Magwa Crescent West
Waterfall City
Jukskei View, 2090
South Africa
PO Box 412694
Craighall, 2024
South Africa
Telephone +27 11 759 6000
www.northam.co.za
Company secretary
PB Beale
Building 4, 1st Floor, Maxwell Office Park
Magwa Crescent West
Waterfall City
Jukskei View, 2090
South Africa
e-mail: trish.beale@norplats.co.za
PO Box 412694
Craighall, 2024
South Africa
Transfer secretaries
JSE Investor Services Proprietary Limited
13th Floor
19 Ameshoff Street
Braamfontein, 2001
South Africa
PO Box 4844
Johannesburg, 2000
South Africa
Telephone: +27 11 713 0800 / 086 147 2644
e-mail: InvestorServices@jseinvestorservices.co.za
Sponsor to Northam Holdings and debt sponsor to Northam Platinum
One Capital
17 Fricker Road
Illovo, 2196
Johannesburg
South Africa
PO Box 784573
Sandton, 2146
South Africa
Johannesburg
26 August 2022