Sibanye-Stillwater (JSE: SGL and NYSE: SBGL - https://www.commodity-tv.net/c/search_adv/?v=298805 ) is pleased to advise that it has today received judgement from the Labour Court (the Court), which declares that the extension, on 18 February 2019, of the gold wage agreement reached with the National Union of Mineworkers (NUM), UASA and Solidarity, to AMCU and other non-unionised employees, is valid and lawful in terms of Section 23(1)(d) of the Labour Relations Act, No 66 of 1995 (S23(1)(d)). The agreement is applicable to non-parties of the agreement.
As a result of the legally binding nature of the extension agreement, the Company will now commence and participate with an independent verification process, to confirm the various unions’ level of representivity required to implement the extension agreement.
Neal Froneman, CEO of Sibanye-Stillwater comments: “We are extremely pleased with the ruling provided by the Labour Court. This judgment provides clarity to all parties on the legal standing of the application of the extension of the wage agreement to AMCU in terms of Section 23(1)(d). Furthermore, it provides a clear path forward to resolving the ongoing strike in a manner which does not compromise our values or undermine our other stakeholders, who have also been negatively impacted by the AMCU strike action. We urge AMCU to respect the ruling and allow due processes to be followed in the interest of all parties and a peaceful resolution to this strike.”
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.
As a result of the legally binding nature of the extension agreement, the Company will now commence and participate with an independent verification process, to confirm the various unions’ level of representivity required to implement the extension agreement.
Neal Froneman, CEO of Sibanye-Stillwater comments: “We are extremely pleased with the ruling provided by the Labour Court. This judgment provides clarity to all parties on the legal standing of the application of the extension of the wage agreement to AMCU in terms of Section 23(1)(d). Furthermore, it provides a clear path forward to resolving the ongoing strike in a manner which does not compromise our values or undermine our other stakeholders, who have also been negatively impacted by the AMCU strike action. We urge AMCU to respect the ruling and allow due processes to be followed in the interest of all parties and a peaceful resolution to this strike.”
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.
