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Dealings In Securities By Directors Of The Company, By Directors Of A Major Subsidiary And By The Company Secretary
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.
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 : R715.81
price per share
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 : R715.81
price per share
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 : R715.81
price per share
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.
Date: 06-06-2025 05:45:00
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