Announcements 2019

Northam secures R1 billion of additional funding facilities

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.


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

Listing of new financial instruments – NHM010 and NHM011

The JSE Limited has granted approval for the listing of NHM010 and NHM011 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012 (“Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 24 May 2019.


The JSE Limited (“JSE”) has granted approval for the listing of NHM010 and NHM011 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012 (“Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 24 May 2019.

The details pertaining to NHM010 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR1 975 000 000.00 including this issue
Instrument Code NHM010
Nominal Amount: ZAR50 000 000.00
Issue Price: 100%
Interest Rate: 3 Month ZAR-JIBAR plus 240 bps, being 9.558% on the first Interest Rate Determination Date (3 Month ZAR-JIBAR as at 22 May 2019 of 7.158% plus 240 bps)
Interest Rate Determination Date(s):       22 May 2019, 24 August 2019, 24 November 2019 and 24 February 2020 (or the first Business Day of each Interest Period)
Coupon Rate Indicator: Floating
Issue Date: 24 May 2019
Interest Commencement Date: 24 May 2019
Maturity Date: 24 May 2020
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17h00 on 13 August 2019, 13 November 2019, 13 February 2020 and 13 May 2020
Books Close Period: 14 August 2019, 14 November 2019, 14 February 2020 and 14 May 2020
Interest Payment Date(s): 24 August 2019, 24 November 2019, 24 February 2020 and 24 May 2020
ISIN No: ZAG000159229
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 Memorandum, dated 3 August 2012, (“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:
http://www.northam.co.za/downloads/send/96-files/1178-applicable-pricing-supplement-nhm010

The details pertaining to NHM011 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR1 975 000 000.00 including this issue
Instrument Code NHM011
Nominal Amount: ZAR500 000 000.00
Issue Price: 100%
Interest Rate: 3 Month ZAR-JIBAR plus 375 bps, being 10.908% on the first Interest Rate Determination Date (3 Month ZAR-JIBAR as at 22 May 2019 of 7.158% plus 375 bps)
Interest Rate Determination Date(s): 24 May, 24 August, 24 November and 24 February of each year (or the first Business Day of each Interest Period) until the Maturity Date, with the first Interest Rate Determination Date being 22 May 2019
Coupon Rate Indicator: Floating
Issue Date: 24 May 2019
Interest Commencement Date: 24 May 2019
Maturity Date: 24 May 2022
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17h00 on 13 May, 13 August, 13 November and 13 February of each year until the Maturity Date
Books Close Period: 14 May, 14 August, 14 November and 14 February of each year until the Maturity Date
Interest Payment Date(s): 24 May, 24 August, 24 November and 24 February of each year until the Maturity Date, with the first Interest Payment Date being 24 August 2019
ISIN No: ZAG000159237
Business Day Convention: Following Business Day
Other: The APS contains additional terms and conditions to the 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: http://www.northam.co.za/downloads/send/96-files/1177-applicable-pricing-supplement-nhm011

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

Johannesburg
23 May 2019

Arranger, Dealer and Debt Sponsor
One Capital

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

Interest payment notification and full capital redemption – NHM005

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


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

Bond Code: NHM005
ISIN No: ZAG000151242
Coupon: 11% per annum
Interest Period: 18 May 2018 to 17 May 2019
Interest Amount Due: R60 500 000.00
Payment Date: 20 May 2019
Date Convention: Modified Following Business Day

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.

Note Capital Redemption Amount Amount Outstanding after the Capital Redemption
NHM005 R550 000 000.00 R0.00

Johannesburg
14 May 2019

Debt Sponsor
One Capital

Northam advises changes to the audit and risk committee

Northam shareholders are advised that Dr NY (Yoza) Jekwa and Mr JJ (Jean) Nel have been appointed to the company’s audit and risk committee with effect from 1 June 2019. Both currently serve on the board as independent, non-executive directors.


Johannesburg, Tuesday 7 May 2019. Northam shareholders are advised that Dr NY (Yoza) Jekwa and Mr JJ (Jean) Nel have been appointed to the company’s audit and risk committee with effect from 1 June 2019.  Both currently serve on the board as independent, non-executive directors.

Yoza Jekwa has served on the Northam board since 8 November 2017. She is also an independent non-executive director of Ascendis Health Limited. Dr Jekwa holds an MBA in Finance and an MBBCh (Bachelor of Medicine and Bachelor of Surgery). She has extensive experience in the South African corporate banking industry and has held various positions in the medical field in South Africa and the United Kingdom.

Jean Nel was appointed to the Northam board on 6 November 2018. He is a non-executive director of Mimosa Holdings (Pvt) Limited, Mimosa Investment Limited and DRDGOLD Limited. Mr Nel qualified as a chartered accountant and has more than 18 years’ experience in mining and mining finance. Mr Nel held the position of CEO for the PGM division of Sibanye-Stillwater Limited following that company’s acquisition of Aquarius Platinum Limited (Aquarius) in 2016. He was previously CEO of Aquarius.

Dr Jekwa and Mr Nel will replace Ms TE (Emily) Kgosi and Mr R (Ralph) Havenstein on the audit and risk committee.  The audit and risk committee will comprise the following members, all of whom are non-executive and independent: Ms Hester Hickey (chairman); Mr David Brown; Dr Yoza Jekwa and Mr Jean Nel.

This announcement is made in compliance with paragraph 3.59 of the JSE Listings Requirements, and follows on the recommendations of the Northam nomination committee.

The members of the board would like to express their appreciation to Emily Kgosi and Ralph Havenstein for their service to the committee. They will both continue to serve the company as independent non-executive directors.

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

Interest payment notification – NHM002

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


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

Bond Code: NHM002
ISIN No: ZAG000129024
Coupon: 13.5% per annum
Interest Period: 12 November 2018 to 11 May 2019
Interest Amount Due: R11 812 500.00
Payment Date: 13 May 2019
Date Convention: Modified Following Business Day

7 May 2019

Debt Sponsor
One Capital

Listing of new financial instruments – NHM008 and NHM009

The JSE Limited has granted approval for the listing of NHM008 and NHM009 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 26 April 2019.


The JSE Limited has granted approval for the listing of NHM008 and NHM009 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 26 April 2019.

The details pertaining to NHM008 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR1 975 000 000.00 including this issue
Instrument Code: NHM008
Nominal Amount: ZAR200 000 000.00
Issue Price: 100%
Interest Rate: 3 Month ZAR-JIBAR plus 240 bps, being 9.558% on the first Interest Rate Determination Date (3 Month ZAR-JIBAR as at 24 April 2019 of 7.158% plus 240 bps)
Coupon Rate Indicator: Floating
Issue Date: 26 April 2019
Interest Commencement Date: 26 April 2019
Interest Rate Determination Date(s): 24 April 2019, 26 July 2019, 26 October 2019 and 26 January 2020
Maturity Date: 26 April 2020
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17h00 on 15 July 2019, 15 October 2019, 15 January 2020 and 15 April 2020
Books Close Period: 16 July 2019, 16 October 2019, 16 January 2020 and 16 April 2020
Interest Payment Date(s): 26 July 2019, 26 October 2019, 26 January 2020 and 26 April 2020
ISIN No: ZAG000158858
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 Memorandum, dated 3 August 2012, (“Terms and Conditions”)
Summary of 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: http://www.northam.co.za/downloads/send/96-files/1173-applicable-pricing-supplement-nhm008-r200m

The details pertaining to NHM009 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR1 975 000 000.00 including this issue
Instrument Code: NHM009
Nominal Amount: ZAR250 000 000.00
Issue Price: 100%
Interest Rate: 3 Month ZAR-JIBAR plus 375 bps, being 10.908% on the first Interest Rate Determination Date (3 Month ZAR-JIBAR as at 24 April 2019 of 7.158% plus 375 bps)
Coupon Rate Indicator: Floating
Issue Date: 26 April 2019
Interest Commencement Date: 26 April 2019
Interest Rate Determination Date(s): 26 April, 26 July, 26 October and 26 January of each year until the Maturity Date, with the first Interest Rate Determination Date being 24 April 2019
Maturity Date: 26 April 2022
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17h00 on 15 April, 15 July, 15 October and 15 January of each year until the Maturity Date
Books Close Period: 16 April, 16 July, 16 October and 16 January of each year until the Maturity Date
Interest Payment Date(s): 26 April, 26 July, 26 October and 26 January of each year until the Maturity Date, with the first Interest Payment Date being 26 July 2019
ISIN No: ZAG000158866
Business Day Convention: Following Business Day
Other: The APS contains additional terms and conditions to the 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: http://www.northam.co.za/downloads/send/96-files/1174-applicable-pricing-supplement-nhm009-r250m

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

Johannesburg
25 April 2019

Arranger, Dealer and Debt Sponsor
One Capital

Attorneys to Northam in respect of the Notes
Bowman Gilfillan Inc

Northam secures additional funding with new R1.65 billion domestic medium term note placement

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.


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.

Listing of new financial instruments – NHM006 and NHM007

The JSE Limited has granted approval for the listing of NHM006 and NHM007 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012 (“the Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 16 April 2019.


The JSE Limited (“JSE”) has granted approval for the listing of NHM006 and NHM007 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012 (“the Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 16 April 2019.

The details pertaining to NHM006 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR1 975 000 000.00 including this issue
Instrument Code NHM006
Nominal Amount: ZAR250 000 000.00
Issue Price: 100%
Interest Rate: 10.408% (3 Month ZAR-JIBAR as at 12 April 2019 of 7.158% plus 325 bps)
Coupon Rate Indicator: Floating
Issue Date: 16 April 2019
Interest Commencement Date: 16 April 2019
Maturity Date: 16 April 2021
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17:00 on 5 April, 5 July, 5 October and 5 January of each year until the Maturity Date
Books Close: 6 April, 6 July, 6 October and 6 January of each year until the Maturity Date
Interest Payment Date: 16 April, 16 July, 16 October and 16 January of each year until the Maturity Date
ISIN No: ZAG000158577
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 Memorandum, dated 3 August 2012, (“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: http://www.northam.co.za/investors-and-media/jse-equity-and-debt-listings

 

The details pertaining to NHM007 are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR1 975 000 000.00 including this issue
Instrument Code NHM007
Nominal Amount: ZAR300 000 000.00
Issue Price: 100%
Interest Rate: 10.908% (3 Month ZAR-JIBAR as at 12 April 2019 of 7.158% plus 375 bps)
Coupon Rate Indicator: Floating
Issue Date: 16 April 2019
Interest Commencement Date: 16 April 2019
Maturity Date: 16 April 2022
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17:00 on 5 April, 5 July, 5 October and 5 January of each year until the Maturity Date
Books Close: 6 April, 6 July, 6 October and 6 January of each year until the Maturity Date
Interest Payment Date: 16 April, 16 July, 16 October and 16 January of each year until the Maturity Date
ISIN No: ZAG000158593
Business Day Convention: Following Business Day
Other: The APS contains additional terms and conditions to the terms and conditions as contained in the Terms and Conditions
Summary of additional terms and conditions: The additional terms and conditions pertain to the 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:  http://www.northam.co.za/investors-and-media/jse-equity-and-debt-listings

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

Johannesburg
15 April 2019

Arranger, Dealer and Debt Sponsor
One Capital

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

Interest payment notification and full capital redemption – NHM004

Northam bondholders are advised of the following interest payment due on Tuesday, 23 April 2019:


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

Bond Code: NHM004
ISIN No: ZAG000150764
Coupon: 11% per annum
Interest Period: 20 April 2018 to 19 April 2019
Interest Amount Due: R49 500 000.00
Payment Date: 23 April 2019
Date Convention: Modified Following Business Day

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.

Note Capital Redemption Amount Amount Outstanding after the Capital Redemption
NHM004 R450 000 000.00 R0.00

Johannesburg
12 April 2019

Interest payment notification

Northam bondholders are advised of the following interest payment due on Monday, 11 March 2019


Northam bondholders are advised of the following interest payment due on Monday, 11 March 2019:

Bond Code: NHM003
ISIN No: ZAG000129032
Coupon: 11.050%
Interest Period: 10 December 2018 to 10 March 2019
Interest Amount Due: R6,887,328.77
Payment Date: 11 March 2019
Date Convention: Modified Following Business Day

 

11 March 2019

Debt Sponsor
One Capital