BRIEF-Sibanye-Stillwater Announces Investment Agreement With Keliber Oy

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BRIEF-Sibanye-Stillwater Announces Investment Agreement With Keliber Oy
Credit: © Reuters.

Feb 23 (Reuters) - Sibanye Stillwater Ltd SSWJ.J :

* JSE: SSW - SIBANYE-STILLWATER SECURES ENTRY INTO THE BATTERY METALS SECTOR

* JSE: SSW - SIBANYE-STILLWATER SECURES ENTRY INTO THE BATTERY METALS SECTOR

* SIBANYE STILLWATER LTD - TRANSACTION IS EXPECTED TO BE IMPLEMENTED IN MARCH 2021,

* SIBANYE STILLWATER LTD - TRANSACTION IS EXPECTED TO BE IMPLEMENTED IN MARCH 2021, SUBJECT TO APPROVAL BY SOUTH AFRICAN RESERVE BANK.

* SIBANYE STILLWATER LTD - WILL MAKE AN INITIAL PHASED EQUITY INVESTMENT OF EUR30 MILLION, FOR AN APPROXIMATE 30% EQUITY SHAREHOLDING INTO KELIBER

* SIBANYE STILLWATER LTD - IN ADDITION A FURTHER EUR10 MILLION EQUITY ISSUANCE WILL SIMULTANEOUSLY BE OFFERED TO EXISTING KELIBER SHAREHOLDERS

* SIBANYE STILLWATER LTD - PROJECT FINANCING WOULD INCLUDE BOTH A DEBT AND EQUITY COMPONENT

* SIBANYE STILLWATER LTD - IN ADDITION TO INITIAL INVESTMENT, SIBANYE-STILLWATER HAS A GUARANTEED OPTION TO ACHIEVE A MAJORITY SHAREHOLDING IN KELIBER

* SIBANYE STILLWATER LTD - PRODUCTION IS ANTICIPATED TO START IN 2024.

* SIBANYE-GUARANTEED OPTION TO GET MAJORITY STAKE IN KELIBER, AFTER FEASIBILITY STUDY, BY CONTRIBUTING FURTHER EQUITY FINANCING FOR PROJECT DEVELOPMENT

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