REG - Valterra Platinum - DEALING IN SECURITIES BY DIRECTORS AND OTHERS

Anglo AmericanAnnouncement

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RNS Number : 8767L  Valterra Platinum Limited  06 June 2025

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               :   Johannesburg Stock Exchange

 Transaction date       :   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               :   Johannesburg Stock Exchange

 Transaction date       :   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               :   London Stock Exchange

 Transaction date       :   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               :   Johannesburg Stock Exchange

 Transaction date       :   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                :   Valterra Platinum Limited

 Exchange               :   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               :   Johannesburg Stock Exchange

 Transaction date       :   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               :   Johannesburg Stock Exchange

 Transaction date       :   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               :   Johannesburg Stock Exchange

 Transaction date       :   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               :   London Stock Exchange

 Transaction date       :   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               :   London Stock Exchange

 Transaction date       :   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
(http://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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