In a move that demonstrates confidence in the company’s future prospects, Sibanye-Stillwater Limited (Tickers JSE: SSW and NYSE: SBSW) announced today that its Chairman and Independent Non-Executive Director, TV Maphai, has purchased 26,000 ordinary shares in an on-market transaction. The acquisition took place on 27 June 2023, with the shares obtained at a market price of R28.63, totaling R744,380.00.
The disclosure, made in accordance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, revealed that TV Maphai, in his capacity as a director, acquired the shares directly and holds a beneficial interest in them. The transaction received the necessary clearance as mandated by the Listings Requirements.
Sibanye-Stillwater, a multinational mining and metals processing group, has established itself as a leading player in the industry, with operations, projects, and investments spanning five continents. The company’s core operations include the production of platinum, palladium, rhodium, and gold. Additionally, Sibanye-Stillwater is recognized for its significant involvement in recycling PGM autocatalysts and mine tailings retreatment operations.
The recent share acquisition by TV Maphai underscores his belief in the strategic direction and growth potential of Sibanye-Stillwater. As Chairman, Maphai’s purchase signifies his confidence in the long-term value of the company’s ordinary shares.