Try our mobile app
ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
("RBPlat" or the "Company")
EXTENSION OF RBPLAT CHIEF EXECUTIVE OFFICER (“CEO”) AND CHIEF OPERATING OFFICER
(“COO”) FIXED TERM CONTRACTS
Shareholders are referred to the announcement of 26 April 2022 wherein it was
confirmed that the CEO and COO (“the Executives”) had retired and that the
Company had entered into Fixed Term Contracts (“the Contracts”) with the
Executives to maintain organisational stability whilst the Company was in
transition due to the ongoing corporate action. In the Company’s 2022 Integrated
Report it was reported that the Company was engaging the Executives in a bid to
extend the term of the Contracts since the corporate action was ongoing and
unlikely to have been concluded by 7 April 2023, when the Contracts were
scheduled to expire.
It is hereby reported that the Company has reached agreement with the Executives
to extend the term of the Contracts until such time as certainty on the
corporate action has been reached and the Executives have assisted in securing
the transition of the Company to its new end state depending on the outcome of
the corporate action, or until 7 October 2023, whichever is the earlier (“the
Expiry Date”). As a consequence of the extension, the Executives’ entitlement to
the cash bonus, detailed in the 2022 Integrated Report, has been deferred and
remains subject to the condition that they remain in the Company’s employ until
the Expiry Date and that they satisfy the existing performance conditions which
pertain to the corporate action. As a further consequence of the extension, the
Executives remain eligible to participate in the Company’s short-term incentive
scheme for the current financial year.
RESPONSIBILITY STATEMENT
The RBPlat independent board (“Independent Board”), individually and
collectively, accepts responsibility for the accuracy of the information
contained in this announcement. To the best of the Independent Board’s knowledge
and belief, the information contained in this announcement is true and nothing
has been omitted which is likely to affect the importance of such information.
Johannesburg
11 April 2023
JSE Sponsor
Merrill Lynch South Africa Proprietary Limited t/a BofA Securities
For further enquiries, please contact:
Lester Jooste
Company Secretary
Tel: +27 (0)10 590 4519
Email: lester@bafokengplatinum.co.za
