Report of Foreign Issuer (6-k)

Date : 04/08/2019 @ 5:10PM
Source : Edgar (US Regulatory)
Stock : Sibanye Stillwater (SBGL)
Quote : 12.26  0.0 (0.00%) @ 12:00AM
Sibanye Stillwater share price Chart

Report of Foreign Issuer (6-k)

background image
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rules 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
Dated April 8, 2019
File Number: 001-35785
SIBANYE GOLD LIMITED
(Translation of registrant’s name into
English)
Libanon Business Park
1 Hospital Street (off Cedar
Avenue) Libanon, Westonaria,
1780
South Africa
Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.
Form 20-F
Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): _____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): _____

















background image
www.sibanyestillwater.com
MARKET RELEASE
Union verification exercise supports extension of the wage agreement at
Sibanye-Stillwater’s SA gold operations
Johannesburg, 8 April 2019: Sibanye-Stillwater (JSE: SGL and NYSE: SBGL) is pleased to
report that the independent exercise to verify the movement in union membership of employees
at the SA Gold operations between 22 November 2018 (when the AMCU strike began) and
18 February 2019 (when the wage agreement signed with the NUM, UASA or Solidarity was
extended) (the “Verification Exercise”), was concluded on 4 April 2019. The outcome of the
Verification Exercise supports Management’s position that on 18 February 2019, the NUM,
UASA and Solidarity collectively represented the majority of employees at the SA gold
operations. The Company intends to approach the Labour Court to declare the current
AMCU strike unprotected.
Neal Froneman, CEO of Sibanye-Stillwater commenting on the outcome said: The
independent verification exercise, will now form the basis to implement the extension of the
wage agreement in terms of Section 23(1)(d) of the Labour Relations Act, No 66 of 1995
(“S23(1)(d)”). Our attempts to lawfully end this strike have been frustrated by ongoing legal
challenges by AMCU since mid-December 2018, which has unnecessarily extended the
strike, to the significant detriment of its members. AMCU has again challenged the outcome
of the Verification Exercise and we again urge AMCU leadership to allow due processes to
be followed in the interest of a peaceful resolution to this strike. Irrespective of the court
outcome we will not entertain a revision to the wage agreement or any other type of
settlement that undermines our other stakeholders”
Ancillary information
In addition to pursuing legal means to end the strike, the company has continued to engage
with AMCU representatives and made several attempts to resolve the strike, including various
proposals provide financial assistance to striking employees when they return to work.
Proposals which were previously tabled by the Company included inter alia:
• a “soft” loan to employees, on extremely favourable terms to assist employees financially
on their return to work. This loan would be repayable over a period. The loan has been
Sibanye Gold Limited
Trading as Sibanye-Stillwater
Reg. 2002/031431/06
Incorporated in the Republic of South Africa
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye-Stillwater”,”the Company” and/or “the Group”)
Business Address:
Libanon Business Park
1 Hospital Street
(Off Cedar Ave)
Libanon, Westonaria, 1780
Postal Address:
Private Bag X5
Westonaria, 1780
Tel +27 11 278 9600
Fax +27 11 278 9863
background image
www.sibanyestillwater.com
set at R5,500 per employees, repayable over 12 months with a 3 month repayment
holiday;
a waiver of the Company’s right to claim for ongoing payments made and costs incurred
during the strike. These include ongoing Company contributions to employee medical
aid cover and pension/provident funds, as well as the provision of accommodation and
food, despite the “no work, no pay” principle applying during the strike;
free transport for striking employees to return to work once the strike ends, debt
consolidation and financial counselling; and
an ex-gratia payment (non-repayable), which has been offset against ongoing
payments and costs which have accumulated over the course of the strike.
The continued contribution by the company to medical aid, and the risk portion towards the
pension/provident funds is important to ensure that striking employees retain these benefits
beyond the strike, but the cumulative cost of these contributions as well as the other costs
highlighted, becomes significant the longer the strike continues, which results in the ex-gratia
amount proposed initially, declining. Effectively, this means that the R4 500 ex-gratia
payment that was proposed in February, decreased to R2 500 in March and has now
reduced to zero. This aspect was made very clear to the AMCU leadership but despite this,
these proposals were formally rejected by AMCU.
The wage agreement signed with NUM, Solidarity and UASA is final and no further increases
will be considered or given as it undermines other stakeholders and is inconsistent with our
CARES values.

Sibanye-Stillwater Investor relations contact:
James Wellsted
Head of Investor Relations
Email:
ir@sibanyestillwater.com
+27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa (Proprietary) Limited

FORWARD LOOKING STATEMENTS


This announcement includes “forward-looking statements” within the meaning of the “safe
harbour” provisions of the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words such as “target”, “will”,
“forecast”, “expect”, “potential”, “intend”, “estimate”, “anticipate”, “can” and other
similar expressions that predict or indicate future events or trends or that are not statements
of historical matters. The forward-looking statements set out in this announcement involve a
number of known and unknown risks, uncertainties and other factors, many of which are
difficult to predict and generally beyond the control of Sibanye-Stillwater, that could cause
Sibanye-Stillwater’s actual results and outcomes to be materially different from historical
results or from any future results expressed or implied by such forward-looking statements.
These forward-looking statements speak only as of the date of this announcement.
Sibanye-Stillwater undertakes no obligation to update publicly or release any revisions to
these forward-looking statements to reflect events or circumstances after the date of this
announcement or to reflect the occurrence of unanticipated events, save as required by
applicable law.
background image



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned, thereunto duly authorised.
SIBANYE GOLD LIMITED
Dated: April 8, 2019
By:
/s/ Charl Keyter
Name:
Charl Keyter

Title:
Chief Financial Officer


This regulatory filing also includes additional resources:
sibanyewater_wage.pdf

Sibanye Stillwater (NYSE:SBGL)
Historical Stock Chart

1 Year : From Feb 2019 to Feb 2020

Click Here for more Sibanye Stillwater Charts.

Sibanye Stillwater (NYSE:SBGL)
Intraday Stock Chart

Today : Wednesday 26 February 2020

Click Here for more Sibanye Stillwater Charts.

Latest SBGL Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200227 03:42:46