New R400 million short term revolving credit facility and amendments to Northam’s existing R1 billion revolving credit facility

Shareholders are referred to the announcement released on SENS on 20 September 2013. The company is pleased to advise shareholders that the R400 million STRCF referred to in the announcement has been secured and is available to Northam.

In parallel with the implementation of the STRCF, Northam has secured a complete special covenant holiday in respect of all existing debt covenants applicable to the current R1 billion RCF that pertain or are calculated with reference to Northam’s earnings before interest, tax, depreciation and amortisation over the next three measuring periods (i.e. ending on 31 December 2013, 30 June 2014 and 31 December 2014, respectively).

The covenant holiday also applies to the R400 million STRCF.

Sponsor and Debt Sponsor
One Capital