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6 Jun 2025 16:45
Valterra Platinum Limited
(previously Anglo American Platinum Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
JSE Share Code: VAL
LSE Share Code: VALT
ISIN: ZAE000013181
("the Company" or "Valterra Platinum")
6 June 2025
DEALINGS IN SECURITIES BY DIRECTORS OF THE COMPANY, BY DIRECTORS OF A MAJOR SUBSIDIARY AND BY THE COMPANY SECRETARY
DISTRIBUTION OF VALTERRA PLATINUM SHARES
Shareholders are referred to the announcement by Anglo American plc ("Anglo American") confirming the successful completion of the demerger of 51% of its interest in Valterra Platinum. The demerger became effective on Saturday, 31 May 2025.
As part of the transaction, Anglo American distributed shares in Valterra Platinum to its existing shareholders. Accordingly, the following directors, who held Anglo American shares at the time of the demerger, received Valterra Platinum shares in proportion to their holdings.
Director and Chairman | : | Noman Mbazima |
Company | : | Valterra Platinum Limited |
Exchange Transaction date | : : | Johannesburg Stock Exchange 2 June 2025 |
Nature of transaction | : | Distribution of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 1013 |
Price per share | : | R704.72 |
Transaction value | : | 713,881.36 |
Nature of interest | : | Direct beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes |
Director and CEO | : | Craig Miller |
Company | : | Valterra Platinum Limited |
Exchange Transaction date | : : | Johannesburg Stock Exchange 2 June 2025 |
Nature of transaction | : | Distribution of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 10,027 |
Price per share | : | R704.72 |
Transaction value | : | R7,066,227.44 |
Nature of interest | : | Direct beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes
|
Director | : | Hendrik Faul |
Company | : | Valterra Platinum Limited |
Exchange Transaction date | : : | London Stock Exchange 2 June 2025 |
Nature of transaction | : | Distribution of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 16924 |
Price per share | : | £28.96 |
Transaction value | : | £490,119.04 |
Nature of interest | : | Direct beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes |
Director | : | Hendrik Faul |
Company | : | Valterra Platinum Limited |
Exchange Transaction date | : : | Johannesburg Stock Exchange 2 June 2025 |
Nature of transaction | : | Distribution of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 726 |
Price per share | : | R704.72 |
Transaction value | : | R511,626.72 |
Nature of interest | : | Direct beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes |
Director | : | Lwazi Bam |
Company Exchange | : : | Valterra Platinum Limited Johannesburg Stock Exchange |
Transaction date | : | 2 June 2025 |
Nature of transaction | : | Distribution of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 59 |
Price per share | : | R704.72 |
Transaction value | : | R41,578.48 |
Nature of interest | : | Direct beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes |
Director | : | Suresh Kana |
Company | : | Valterra Platinum Limited |
Exchange Transaction date | : : | Johannesburg Stock Exchange 2 June 2025 |
Nature of transaction | : | Distribution of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 74 |
Price per share | : | R704.72 |
Transaction value | : | R52,149.28 |
Nature of interest | : | Indirect beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes |
Director | : | Dorian Emmett |
Company | : | Valterra Platinum Limited |
Exchange Transaction date | : : | Johannesburg Stock Exchange 2 June 2025 |
Nature of transaction | : | Distribution of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 3,069 |
Price per share | : | R704.72 |
Transaction value | : | R2,162,785.68 |
Nature of interest | : | Indirect beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes |
Company Secretary | : | Fiona Edmundson |
Company | : | Valterra Platinum Limited |
Exchange Transaction date | : : | Johannesburg Stock Exchange 2 June 2025 |
Nature of transaction | : | Distribution of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 2167 |
Price per share | : | R704,72 |
Transaction value | : | R1,527,128.24 |
Nature of interest | : | Direct beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes |
ACCELERATION OF VESTING OF SHARES PARTICIPATING IN THE ANGLO AMERICAN SHARE INCENTIVE PLAN (SIP)
Due to the accelerated vesting of the SIP on demerger for Valterra Platinum employees participating in the SIP, Valterra Platinum shares were distributed to the following participants and subsequently sold on the market:
Director | : | Craig Miller |
Company | : | Valterra Platinum Limited |
Exchange Transaction date | : : | London Stock Exchange 2 June 2025 |
Nature of transaction | : | Accelerated vesting and on market sale of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 260 |
Price per share | : | £28.71 |
Transaction value | : | £7,464.60 |
Nature of interest | : | Direct beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes |
Director | : | Hilton Ingram |
Company | : | Valterra Platinum Limited |
Exchange Transaction date | : : | London Stock Exchange 2 June 2025 |
Nature of transaction | : | Accelerated vesting and on market sale of shares |
Class of securities | : | Ordinary shares |
Number of shares | : | 215 |
Price per share | : | £28.71 |
Transaction value | : | £6172,65 |
Nature of interest | : | Direct beneficial |
Vesting date | : | None |
Clearance obtained | : | Yes |
LONG-TERM INCENTIVE PLAN ("LTIP") REPLACEMENT AWARDS
Former Anglo American employees who have transitioned to Valterra Platinum as part of the demerger are treated as good leavers. As such, have received accelerated vesting of their outstanding Anglo American Long-Term Incentive Plan (LTIP) awards on a pro-rated basis, reflecting both their period of service and Anglo American's performance up to the date of the demerger.
To ensure continuity, fairness, and alignment with existing Valterra Platinum participants, replacement Valterra LTIP awards will be granted as of the original grant date, being LTIP23 - 14 April 2023 and LTIP24 - 22 April 2024. These awards will be based on Valterra Platinum's performance and are intended to partially offset any unvested Anglo American LTIP awards, thereby maintaining employee engagement and equity across the company.
The LTIP awards are subject to certain stringent performance conditions. The applicable vesting period is three years and is based on the fulfillment of pre-determined performance conditions. The details of the LTIP are set out in the Remuneration Report contained within the 2024 Governance Report available on the company website - www.valterraplatinum.com.
Director | : | Yvonne Mfolo |
Company | : | Rustenburg Platinum Mines Limited (a major subsidiary of Valterra Platinum) |
Date of acceptance | : | 2 June 2025 |
Nature of transaction | : | Off-market acceptance of LTIP 2024 conditional awards |
Class of securities | : | Ordinary shares |
Number of securities | : | 8,876 |
Highest Price | : | R800.00 |
Lowest Price | : | R610.01 |
Volume weighted average price per share | : | R715.81 |
Transaction value | : | R6,353,529,56 |
Vesting period | Three years after the grant on certain performance conditions being met. | |
Nature of interest | : | Direct beneficial |
Clearance obtained | : | Yes |
Company Secretary | : | Fiona Edmundson |
Company | : | Rustenburg Platinum Mines Limited (a major subsidiary of Valterra Platinum) |
Date of acceptance | : | 2 June 2025 |
Nature of transaction | : | Off-market acceptance of LTIP 2024 conditional awards |
Class of securities | : | Ordinary shares |
Number of securities | : | 3,006 |
Highest Price | : | R800.00 |
Lowest Price | : | R610.01 |
Volume weighted average price per share | : | R715.81 |
Transaction value | : | R2,151,724,86 |
Vesting period | Three years after the grant on certain performance conditions being met. | |
Nature of interest | : | Direct beneficial |
Clearance obtained | : | Yes |
Company Secretary | : | Fiona Edmundson |
Company | : | Rustenburg Platinum Mines Limited (a major subsidiary of Valterra Platinum) |
Date of acceptance | : | 2 June 2025 |
Nature of transaction | : | Off-market acceptance of LTIP 2023 conditional awards |
Class of securities | : | Ordinary shares |
Number of securities | : | 632 |
Highest Price | : | R800.00 |
Lowest Price | : | R610.01 |
Volume weighted average price per share | : | R715.81 |
Transaction value | : | R452,391 |
Vesting period | : | Three years after the grant on certain performance conditions being met. |
Nature of interest | : | Direct beneficial |
Clearance obtained | : | Yes |
JSE Sponsor:
Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities
For further information, please contact:
Company Secretary
Fiona Edmundson
fiona.edmundson@valterraplatinum.com
Investors:
Theto Maake
theto.maake@valterraplatinum.com
Marcela Grochowina
marcela.grochowina@valterraplatinum.com
Media:
Cindy Maneveld
cindy.maneveld@valterraplatinum.com
About Valterra Platinum
Valterra Platinum Limited is one of the world's leading integrated producers of platinum group metals (PGMs) with a primary listing on the Johannesburg Stock Exchange and a secondary listing on the London Stock Exchange. With a portfolio of outstanding long-life mines and proven processing assets, we responsibly and safely mine precious metals and associated co-products from our rich mineral resource endowment and process the PGMs and co-products at our smelting and refining operations located in South Africa and Zimbabwe. Our fully integrated value chain is supported by marketing hubs in London, Singapore and Shanghai to deliver tailored solutions for our customers. The Company will continue to be disciplined in its capital allocation, integrating sustainability into everything it does, to support the company's investment in its mining and processing capabilities, market development activities to grow and commercialise new demand segments, continue to make a meaningful difference to the development of the communities around our operations and return consistent and superior returns to shareholders. Valterra Platinum is committed to zero harm, capital allocation discipline and delivering on our value-accretive strategic priorities as a standalone, leading integrated PGM producer, guided by our purpose of unearthing value to better our world.
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