Announcements 2014

Northam hopeful of settlement at Zondereinde mine

Northam has been advised by the National Union of Mineworkers that it has accepted the company’s final offer in terms of the negotiations around annual wage increases and conditions of employment.


Johannesburg, Friday 17 January 2014. Northam has been advised by the National Union of Mineworkers (NUM) that it has accepted the company’s final offer in terms of the negotiations around annual wage increases and conditions of employment.

Northam management has since received a further request from the NUM for a meeting with management on Monday 20 January 2014. Management has agreed to a further meeting provided it is held under the auspices of the CCMA.

The company will issue a statement once an agreement has been signed with the NUM.

Issued by
Russell & Associates
Johannesburg
Tel +27 (0)11 880 3924

Dealing in securities by a director of a major subsidiary

In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listings Requirements, Northam advises its shareholders of the following dealing.


In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listings Requirements, Northam advises its shareholders of the following dealing in the company's ordinary shares by a director of a major subsidiary of the company:

Name of director D R Wolstenholme
Name of major subsidiary Micawber 278 Proprietary Limited
Date of transaction 9 December 2013
Nature of transaction Acquisition of ordinary share through the exercise of rights pursuant to a claw-back rights offer
Class of Securities Ordinary shares
Number of ordinary shares 3 725
Price per ordinary share R40.00
Value of transaction R149 000.00
Nature and extent of director’s interest Direct beneficial
Transaction completed on market No
Clearance obtained Yes

Johannesburg
10 January 2014

Sponsor
One Capital

Zondereinde mine - update 8

The management of Northam advises that it is seeking to secure a further meeting with the leadership of the NUM under the auspices of the CCMA in an attempt to resolve the strike action at the company’s Zondereinde platinum mine in Limpopo Province.


Johannesburg, 6 January 2014. The management of Northam advises that it is seeking to secure a further meeting with the leadership of the NUM under the auspices of the CCMA in an attempt to resolve the strike action at the company’s Zondereinde platinum mine in Limpopo Province.

The NUM’s latest demands, tabled at a CCMA meeting on 7 December 2013, and which amount to an average increase of 16% in wages, and a 69% increase in the living out allowance, remain unaffordable for the company and out of kilter with the settlements reached in the gold sector and at a number of other platinum producers.

To date the company has lost R500 million in revenue, and employees losses in wages have now reached the R100 million level.

Shareholders will be kept informed of progress.

Issued by
Russell & Associates
Johannesburg
Tel +27 (0)11 880 3924