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Sibanye-S - financial assistance notice
Sibanye-Stillwater advised that its wholly owned subsidiary, Sibanye-Stillwater UK Financing Plc (UK Finco), a counterparty in the Franco-Nevada USD500 million stream financing, has joined all existing debt financing facilities as a guarantor, and the USD1 billion revolving credit facility (USD RCF) as a borrower.
The board of directors of the Company (the Board) has adopted a resolution to guarantee obligations of UK Finco under the USD RCF, which guarantee constitutes the giving of direct and/or indirect financial assistance to related and inter-related companies and corporations of the Company in terms of the provisions of Section 45 of the Companies Act (the Financial Assistance).
Having considered all reasonable financial circumstances of the Company the Board is satisfied that:
• immediately after providing the Financial Assistance referred to above, the Company would satisfy the solvency and liquidity test contemplated in Section 4 of the Companies Act;
• all relevant conditions and restrictions relating to the granting of the Financial Assistance by the Company contained in the Company's memorandum of incorporation are satisfied; and
• the terms and conditions on which the Financial Assistance is to be given are fair and reasonable to the Company.
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