Enhanced Investments - Financial Portal

Audited group annual results for the year ended 30 June 2023, cash dividend, share buyback programme & notice of AGM

Published: 2023-08-25 08:05:41 ET

       NORTHAM PLATINUM HOLDINGS LIMITED                                   NORTHAM PLATINUM LIMITED
        Incorporated in the Republic of South Africa                  Incorporated in the Republic of South Africa
            Registration number: 2020/905346/06                          Registration number: 1977/003282/06
                       Share code: NPH                                          Debt issuer code: NHMI
                    ISIN: ZAE000298253                            Bond code: NHM015        Bond ISIN: ZAG000164922
  (“Northam Holdings” or the “company” or, together with          Bond code: NHM016        Bond ISIN: ZAG000167750
         its subsidiaries, “Northam” or the “group”)              Bond code: NHM019        Bond ISIN: ZAG000168105
                                                                  Bond code: NHM020        Bond ISIN: ZAG000172594
                                                                  Bond code: NHM021        Bond ISIN: ZAG000181496
                                                                  Bond code: NHM022        Bond ISIN: ZAG000190133
                                                                  Bond code: NHM023        Bond ISIN: ZAG000190968
                                                                  Bond code: NHM024        Bond ISIN: ZAG000195926
                                                                  Bond code: NHM025        Bond ISIN: ZAG000195934
                                                                  Bond code: NHM026        Bond ISIN: ZAG000195942
                                                                                (“Northam Platinum”)

 AUDITED GROUP CONSOLIDATED ANNUAL RESULTS FOR THE YEAR ENDED 30 JUNE 2023, CASH DIVIDEND
      DECLARATION, SHARE BUYBACK PROGRAMME AND NOTICE OF ANNUAL GENERAL MEETING


Shareholders of Northam Holdings (“Shareholders”) are hereby advised that Northam Holdings published its audited group
consolidated annual results for the year ended 30 June 2023 today.

Financial results overview

                                                               30 June 2023                   30 June 2022         Variance
  Sales revenue                           R000                     39 548 159                    34 064 270           16.1%
  Operating profit                        R000                     15 446 786                    14 885 101            3.8%
  Operating margin                         %                              39.1                          43.7        (10.5%)
  Earnings per share                      cents                          654.5                       2 614.9        (75.0%)
  Headline earnings per share             cents                        2 414.9                       2 611.1         (7.5%)
  Dividends per share                     cents                          600.0                             -        100.0%
  EBITDA*                                 R000                     16 501 053                    16 462 860            0.2%
  EBITDA margin                            %                              41.7                          48.3        (13.7%)
* Earnings before interest, taxation, depreciation, amortisation, and impairments.

Continuing to return meaningful value to our Shareholders
Cash dividend
Northam recognises the importance of returning value to Shareholders, and this has always been one of the key drivers
behind, and objectives of, our long-term sustainable growth strategy.
During the previous financial year ended 30 June 2022, Northam returned significant value to Shareholders through the
accelerated maturity and unwinding of the Zambezi Platinum (RF) Proprietary Limited black economic empowerment (BEE)
transaction and related share buyback, which resulted in a 28.9% reduction in Northam Holdings’ issued share capital.
The sale of Northam's investment in Royal Bafokeng Platinum Limited subsequent to 30 June 2023 has presented an
opportunity for Northam to significantly strengthen the group’s balance sheet and liquidity position, which in turn has enabled
the group to declare its first dividend in over 10 years. This dividend constitutes a maiden dividend for Northam Holdings.
The company's board of directors (“board”) is pleased to announce that it resolved to declare and pay a final gross cash
dividend of 600.00 cents per share which in aggregate amounts to a gross cash dividend of approximately R2.4 billion for
the year ended 30 June 2023. The final cash dividend has been declared from income reserves.
A dividend withholding tax of 20% will be applicable to Shareholders who are not exempt from, or who do not qualify for, a
reduced rate of dividend withholding tax. Accordingly, for those Shareholders subject to dividend withholding tax at a rate of
20%, the final net cash dividend amounts to 480.00 cents per share (30 June 2022: Nil cents per share).
The following dates are applicable to the dividend:
    Last day to trade (cum dividend), on                                                   Tuesday, 12 September 2023
    Trading ex-dividend, on                                                              Wednesday, 13 September 2023
    Record date to determine which Shareholders are eligible to receive the dividend,
    on                                                                                        Friday, 15 September 2023
    Payment date of the dividend, on                                                         Monday, 18 September 2023
Shareholders may not dematerialise or rematerialise their shares between Wednesday, 13 September 2023 and
Friday, 15 September 2023, both days inclusive.
The following additional information is disclosed regarding the dividend:
•     Northam Holdings’ issued share capital at the dividend declaration date was 396 615 878 ordinary shares (of which
      1 share is held by Northam Platinum, a subsidiary of Northam Holdings).
•     Northam Holdings' registration number is 2020/905346/06.

•     Northam Holdings' income tax reference number is 9586451198.


Share buyback programme

In addition to the dividend, Shareholders are further advised that the board has also approved a share buyback programme
of up to R1.0 billion, and limited to a maximum of 5% of Northam Holdings’ issued share capital, in terms of which the
company and/or its subsidiaries may buyback Northam Holdings shares in accordance with the authority approved by
Shareholders at the company’s annual general meeting (“AGM”) held on Tuesday, 25 October 2022, which authority the
company will seek to renew at the upcoming AGM to be held on Monday, 30 October 2023 (“2023 AGM”).


Annual general meeting
The 2023 AGM will be held on Monday, 30 October 2023 at 10:00 South African time to transact the business as stated in
the notice of the 2023 AGM (“2023 AGM notice”).

The 2023 AGM will be held entirely by way of electronic participation. Shareholders are encouraged to read the 2023 AGM
notice for information on how to electronically attend, participate in and vote at the 2023 AGM.

Shareholders are advised that the 2023 AGM notice, containing the summarised audited group consolidated annual financial
statements for the year ended 30 June 2023, is available on the company’s website at:
https://www.northam.co.za/downloads/send/173-2023/1521-2023-notice-agm and will be distributed to Shareholders on
Friday, 1 September 2023.
The salient dates for the 2023 AGM are as follows:

 Record date to determine which Shareholders are entitled to receive the 2023 AGM notice,
 on                                                                                                    Friday, 25 August 2023
 2023 AGM notice made available on the company’s website, on                                           Friday, 25 August 2023
 Distribution of the 2023 AGM notice to Shareholders, on                                            Friday, 1 September 2023
 Last date to trade in order to be recorded in the register to be able to electronically attend,
 participate in and vote at the 2023 AGM, on                                                       Tuesday, 17 October 2023
 Record date to determine which Shareholders are entitled to electronically attend,
 participate in and vote at the 2023 AGM, on                                                         Friday, 20 October 2023
 For administration purposes, forms of proxy to be delivered to The Meeting Specialist
 Proprietary Limited (TMS) by 10:00 (SA time), on*                                                 Thursday, 26 October 2023
 2023 AGM to be held at 10:00 (SA time), on                                                         Monday, 30 October 2023
 Results of the 2023 AGM expected to be published on SENS, on                                       Monday, 30 October 2023

* Any forms of proxy not delivered by this date and time must be submitted electronically to the chairperson of the 2023 AGM
before the appointed proxy may exercise any rights of the Shareholder at the meeting.

About this announcement

As the information in this announcement does not provide all of the details, any investment decisions should be based on the
published audited group consolidated annual financial statements (which incorporates the external auditor’s report in which
PricewaterhouseCoopers Incorporated expressed an unqualified audit opinion) which is accessible via the JSE cloudlink at:
https://senspdf.jse.co.za/documents/2023/JSE/ISSE/NPHE/AFS_23.pdf and available on the company’s website at:
https://www.northam.co.za/downloads/send/167-fy2023/1523-fy2023-afs-30-june-2023.

Shareholders are also referred to the summarised financial results for the year ended 30 June 2023 available on the
company’s website at: https://www.northam.co.za/downloads/send/167-fy2023/1524-fy2023-sfr-30-june-2023 for further
detailed information pertaining to the group’s business and operations, including detailed results commentary in respect of
the financial year ended 30 June 2023.

The group annual integrated report for the year ended 30 June 2023, which contains, inter alia, the additional information
required in terms of paragraph 8.62 of the JSE Limited Listings Requirements, the summarised financial results for the year
ended 30 June 2023 and the 2023 AGM notice, is available on the company’s website at:
https://www.northam.co.za/downloads/send/173-2023/1522-annual-integrated-report-2023.

Johannesburg
25 August 2023


 Corporate Advisor and Sponsor to Northam Holdings                Corporate Advisor and Debt Sponsor to Northam Platinum
                     One Capital                                                        One Capital




                                    Attorneys to Northam Holdings and Northam Platinum
                                                       Webber Wentzel

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.