Announcements 2022

Passing of the independent non-executive chairman and changes to the boards of directors

It is with great sadness that the board of directors of Northam Holdings (“Northam Holdings Board”) and the board of directors of Northam Platinum (“Northam Platinum Board”) advise of the untimely passing of Mr David Hugh Brown, the independent non-executive chairman of the Northam Holdings Board and Northam Platinum Board, on Sunday, 19 June 2022.   


It is with great sadness that the board of directors of Northam Holdings (“Northam Holdings Board”) and the board of directors of Northam Platinum (“Northam Platinum Board”) advise of the untimely passing of Mr David Hugh Brown, the independent non-executive chairman of the Northam Holdings Board and Northam Platinum Board, on Sunday, 19 June 2022.   

Mr Brown joined Northam in November 2017 and served as a member of Northam’s remuneration committee and chairperson of Northam’s nomination committee and investment committee. Mr Brown contributed a wealth of knowledge, experience and expertise and Northam is appreciative of Mr Brown’s invaluable leadership and wise counsel during his tenure.

The directors of Northam Holdings and Northam Platinum wish to extend their deepest sympathies to Mr Brown’s family and friends.  

Paul Dunne, CEO, Northam, said: “I am shocked and saddened at the sudden passing of David, a stalwart of the Southern African mining industry. He was not only Chairman of Northam’s board but a friend and colleague. He worked at board level in the sector for more than 23 years. My fellow board members and executive team join me in extending our sincerest sympathy to his family and loved ones, friends and colleagues. David instinctively knew that people are at the centre of all things mining.  He will be sorely missed.”

Northam further advises that:

  • Mr Temba Irvine Mvusi, Northam Holdings’ current lead independent director, has been appointed as the new chairman of the Northam Holdings Board and, pursuant to the policy dealing with the nomination of directors, elected as a director of Northam Platinum and appointed as the new chairman of Northam Platinum Board with immediate effect; and
  • Ms Hester Helena Hickey, an independent non-executive director of Northam Holdings, has been appointed as Northam Holdings’ new lead independent director, with immediate effect.

A further announcement regarding the necessary appointments to the affected Northam Holdings Board committees, following the vacancies which have arisen as a result of the passing of Mr Brown, will be published in due course.

Johannesburg
20 June 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

Interest payments notification – NHM012 AND NHM015

Northam bondholders are advised of the following interest payments due on Monday, 13 June 2022:


Northam bondholders are advised of the following interest payments due on Monday, 13 June 2022:

Bond Code: NHM012
ISIN: ZAG000160136
Coupon: 8.025%
Interest Period: 14 March 2022 to 12 June 2022
Interest Amount Due: R2 040 768.49
Payment Date: 13 June 2022
Date Convention: Following Business Day

Bond Code: NHM015
ISIN: ZAG000164922
Coupon: 7.575%
Interest Period: 14 March 2022 to 12 June 2022
Interest Amount Due: R9 442 808.22
Payment Date: 13 June 2022
Date Convention: Following Business Day

Johannesburg
8 June 2022

Debt Sponsor
One Capital

New R2.06 billion domestic medium term note placement and extension to the maturity of R1.17 billion of domestic medium term notes under the R15 billion domestic medium term note programme

The Group is pleased to announce that it has completed a private placement of new domestic medium term notes (“Notes”) to the value of c. R2.06 billion under Northam’s R15 billion Domestic Medium Term Note Programme, as amended and/or supplemented from time to time (“Programme”) and has effectively extended the maturity of the nominal amount of certain Notes to the value of c. R1.17 billion by in excess of 2 years (collectively, the “Tap Issuances”).


The Group is pleased to announce that it has completed a private placement of new domestic medium term notes (“Notes”) to the value of c. R2.06 billion under Northam’s R15 billion Domestic Medium Term Note Programme, as amended and/or supplemented from time to time (“Programme”) and has effectively extended the maturity of the nominal amount of certain Notes to the value of c. R1.17 billion by in excess of 2 years (collectively, the “Tap Issuances”).

The aggregate placements pursuant to the Tap Issuances amount to R3.23 billion, with c. R1.34 billion, c. R1.64 billion and R250 million placed on 19 April 2022, 26 April 2022 and 26 May 2022, respectively, which placements were largely aligned with the maturity dates of Notes under bond series NHM007, NHM009 and NHM011.

Following the Tap Issuances, the total nominal value of Notes in issue under the Programme amounts to c. R11.36 billion. R102 million of Notes will mature during the current financial year, with the remainder of maturities spread across calendar years 2023 to 2026.

Paul Dunne, Northam’s Chief Executive Officer said, “Northam is grateful for the continued support shown to it by the participants in the Programme. The R3.23 billion combination of new investment and the extension of maturities, allows Northam to maintain its preferred level of gearing in the medium term.

Johannesburg
26 May 2022

Corporate Advisor and JSE Sponsor to Northam Holdings
One Capital

Sole Arranger and Dealer to Northam in respect of the Programme
One Capital

Corporate Advisor and Debt Sponsor to Northam
One Capital

Attorneys to Northam and Northam Holdings
Webber Wentzel;

Attorneys to Northam, the Arranger and the Dealer in respect of the Programme
Bowman Gilfillan Inc.

Listing of a tap issuance – NHM021

The JSE Limited (“JSE”) has granted approval for the listing of a tap issuance of Senior Unsecured Floating Rate Notes (“Notes”) under series NHM021 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 26 May 2022.


The JSE Limited (“JSE”) has granted approval for the listing of a tap issuance of Senior Unsecured Floating Rate Notes (“Notes”) under series NHM021 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 26 May 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 tap issuance of the NHM021 series are as follows:

Instrument Type: Senior Unsecured Floating Rate Notes
Total Notes in Issue: ZAR11 358 836 845 (inclusive of this issue of Notes)
Instrument Code NHM021
Tranche Number: 3
Nominal Amount: ZAR250 000 000
Issue Price: 100%
Interest Rate: 3 Month ZAR-JIBAR plus 425 bps per annum
Interest Rate Determination Date(s):      26 February, 26 May, 26 August and 26 November (or the first Business Day of each Interest Period) of each year until the Maturity Date
Coupon Rate Indicator: Floating Rate
Issue Date: 26 May 2022
Interest Commencement Date: 26 May 2022
Maturity Date: 26 November 2026
Final Redemption Amount: 100% of Nominal Amount
Last Day to Register: By 17h00 on 15 February, 15 May, 15 August and 15 November 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: 16 February to 25 February, 16 May to 25 May, 16 August to 25 August and 16 November to 25 November 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): 26 February, 26 May, 26 August and 26 November 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
International Securities Identification Number (ISIN): ZAG000181496
Applicable Business Day Convention: Following Business Day
Other: The applicable pricing supplement (“APS”) does not contain additional terms and conditions 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/1455-applicable-pricing-supplement-nhm021-tranche-3-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
24 May 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.

Change in transfer secretary

In compliance with paragraph 11.39(b) of the JSE Limited Listings Requirements, shareholders are advised that JSE Investor Services Proprietary Limited (“JSE Investor Services”) will replace Computershare Investor Services Proprietary Limited (“Computershare”) as the transfer secretary to Northam Holdings, with effect from 1 July 2022.

The contact details for JSE Investor Services are as follows:


In compliance with paragraph 11.39(b) of the JSE Limited Listings Requirements, shareholders are advised that JSE Investor Services Proprietary Limited (“JSE Investor Services”) will replace Computershare Investor Services Proprietary Limited (“Computershare”) as the transfer secretary to Northam Holdings, with effect from 1 July 2022.

The contact details for JSE Investor Services are as follows:

13th Floor
19 Ameshoff Street
Braamfontein, 2001
(PO Box 4844, Johannesburg, 2000)
Telephone: 011 713 0800
Facsimile: 086 674 4381
Email: info@jseinvestorservices.co.za

The board of directors of Northam Holdings would like to extend its appreciation to Computershare for their long-standing service and looks forward to working with JSE Investor Services.

Johannesburg
23 May 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

Interest payment notifications - NHM011, NHM018, NHM019, NHM020 AND NHM021

Northam bondholders are advised of the following interest payments due on Tuesday, 24 May 2022, Wednesday, 25 May 2022 and Thursday, 26 May 2022:


Northam bondholders are advised of the following interest payments due on Tuesday, 24 May 2022, Wednesday, 25 May 2022 and Thursday, 26 May 2022:

Bond Code: NHM011
ISIN: ZAG000159237
Coupon: 7.967%
Interest Period: 24 February 2022 to 23 May 2022
Interest Amount Due: R4 720 611.21
Payment Date: 24 May 2022
Date Convention: Following Business Day

Bond Code: NHM018
ISIN: ZAG000168097
Coupon: 7.967%
Interest Period: 25 February 2022 to 24 May 2022
Interest Amount Due: R44 496 131.55
Payment Date: 25 May 2022
Date Convention: Following Business Day

Bond Code: NHM019
ISIN: ZAG000168105
Coupon: 8.217%
Interest Period: 25 February 2022 to 24 May 2022
Interest Amount Due: R70 445 177.33
Payment Date: 25 May 2022
Date Convention: Following Business Day

Bond Code: NHM020
ISIN: ZAG000172594
Coupon: 7.967%
Interest Period: 25 February 2022 to 24 May 2022
Interest Amount Due: R13 248 793.59
Payment Date: 25 May 2022
Date Convention: Following Business Day

Bond Code: NHM021
ISIN: ZAG000181496
Coupon: 8.467%
Interest Period: 28 February 2022 to 25 May 2022
Interest Amount Due: R6 518 662.11
Payment Date: 26 May 2022
Date Convention: Following Business Day

Johannesburg
19 May 2022

Debt Sponsor
One Capital

Interest payment notification - NHM016

Northam bondholders are advised of the following interest payment due on Wednesday, 11 May 2022:


Northam bondholders are advised of the following interest payment due on Wednesday, 11 May 2022:

Bond Code: NHM016
ISIN: ZAG000167750
Coupon: 8.417%
Interest Period: 11 February 2022 to 10 May 2022
Interest Amount Due: R75 843 111.30
Payment Date: 11 May 2022
Date Convention: Following Business Day

Johannesburg
6 May 2022

Debt Sponsor
One Capital

Disclosure of an acquisition of a beneficial interest in Northam Holdings securities

In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 (“Companies Act”), as amended, and paragraph 3.83(b) of the JSE Limited Listings Requirements, Northam Holdings shareholders are advised that the company received notification, in the prescribed form, from Fairtree Asset Management Proprietary Limited, on behalf of its clients (“Fairtree”), advising that it has acquired a beneficial interest in the securities of Northam Holdings, such that Fairtree now holds a beneficial interest of 5.032% in the company’s total issued share capital.


In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 (“Companies Act”), as amended, and paragraph 3.83(b) of the JSE Limited Listings Requirements, Northam Holdings shareholders are advised that the company received notification, in the prescribed form, from Fairtree Asset Management Proprietary Limited, on behalf of its clients (“Fairtree”), advising that it has acquired a beneficial interest in the securities of Northam Holdings, such that Fairtree now holds a beneficial interest of 5.032% in the company’s total issued share capital.

The company will file the relevant notification with the Takeover Regulation Panel, as required in terms of section 122(3)(a) of the Companies Act.

Johannesburg
28 April 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

Disclosure of an acquisition of a beneficial interest In Northam Holdings securities

In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 (“Companies Act”), as amended, and paragraph 3.83(b) of the JSE Limited Listings Requirements, Northam Holdings shareholders are advised that the company received notification, in the prescribed form, from MandG Investment Managers Proprietary Limited, on behalf of its clients (“MandG”), advising that it has acquired a beneficial interest in the securities of Northam Holdings, such that MandG now holds a beneficial interest of 10.06% in the company’s total issued share capital.


In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 (“Companies Act”), as amended, and paragraph 3.83(b) of the JSE Limited Listings Requirements, Northam Holdings shareholders are advised that the company received notification, in the prescribed form, from MandG Investment Managers Proprietary Limited, on behalf of its clients (“MandG”), advising that it has acquired a beneficial interest in the securities of Northam Holdings, such that MandG now holds a beneficial interest of 10.06% in the company’s total issued share capital.

The company will file the relevant notification with the Takeover Regulation Panel, as required in terms of section 122(3)(a) of the Companies Act.

Johannesburg
26 April 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

Media release: Northam ratchets up another project delivery record

Northam has achieved another major project milestone with the completion of drilling of its No 3 Shaft, at a world record depth of 1 382 metres at the group’s Zondereinde mine in the western bushveld. Work on the No 3 shaft at Zondereinde’s significant brownfields capital expansion project, the Western extension, started in early 2020.


…extends life of Zondereinde mine to over 30 years

Northam has achieved another major project milestone with the completion of drilling of its No 3 Shaft, at a world record depth of 1 382 metres at the group’s Zondereinde mine in the western bushveld. Work on the No 3 shaft at Zondereinde’s significant brownfields capital expansion project, the Western extension, started in early 2020.

Zondereinde’s Western extension is a quality resource block containing 21 million ounces of PGM within the high-grade Merensky and UG2 orebodies. The resource was purchased in 2017 for R1 billion. The addition of the Western extension improves operational flexibility at Zondereinde and will permit annual PGM output to increase to 350 000 ounces 4E by 2026. It also extends the remaining life of the operation to over 30 years.

Mining activity from the existing workings of the Zondereinde mine will gradually transition into the Western extension block. The new shaft complex is situated some four kilometres from the original Zondereinde Mine complex, a distance which constrains service delivery and logistics. The new shaft will transport people and materials, as well as allow the supply of services, including backfill, chilled service water and ventilation, to the underground workings. This will alleviate the challenges associated with distance from the existing Zondereinde shafts.

The Zondereinde mine, situated in Limpopo Province near Thabazimbi is a key contributor to social upliftment and development in the area. The development of no. 3 shaft will secure the jobs of Zondereinde’s current employee complement of 10 700, as well as an additional 600 permanent positions. This provides the impetus for further economic activity in the province.

Northam CEO Paul Dunne said today: “This project milestone was delivered on time and on budget by the Zondereinde team, in collaboration with our project service provider, Master Drilling. The resultant long-term stability and life of mine extension delivered by this project will have a beneficial impact on the mine, its stakeholders and the local economy for decades to come.”

R&A Strategic Communications, Johannesburg, Tel +27 (0)11 880 3924

  • Marion Brower +27 71 493 0387
  • Memory Johnstone +27 82 719 3081
  • Siseko Njobeni +27 11 880 3924

Visual resources will be available on the Northam website, www.northam.co.za