The restructuring relates to the B-BBEE shareholding in Marikana, comprising Western Platinum Proprietary Limited (WPL) and Eastern Platinum Limited (EPL),aimed at ensuring sustainability and realising value to the B-BBEE shareholders.
Sibanye-Stillwater started engaging with Phembani Group Proprietary Limited ("Phembani") (which inherited its participation in the Marikana B-BBEE structure in December 2015, as part of a larger non-related transaction) and the other Marikana B-BBEE shareholders after acquiring Lonmin.
The restructuring has been implemented to facilitate: