Sibanye-Stillwater’s response to Appian Capital public statements

Sibanye-Stillwater released a strongly worded statement in response to the media campaign launched by Appian Capital. Appian is making noise about a lawsuit over the termination of the Santa Rita deal, which Sibanye walked away from in January due to geotechnical events at the underlying operations. Sibanye is confident that if Appian launches legal proceedings in the English High Court, they will be defended successfully. This is an unwelcome distraction for the company.

Sibanye-Stillwater yesterday disclosed the following: “We understand that Appian has made public statements concerning the Santa Rita termination that we announced to the market on 24 January 2022, in an apparent effort to disrupt the announcement of our results, and to engage in litigation via the media.

“We reject both Appian’s apparent strategy, and the substance of its comments. Its public characterisation of the geotechnical event experienced at Santa Rita is both superficial and wrong.

“As Appian is aware, disputes arising from recent events are to be resolved by the English High Court. If Appian decides to commence proceedings, we shall vigorously defend our position and are confident that we will prevail.

“In the meantime, we do not intend to comment publicly each time Appian attempts to disrupt the public or market perception of Sibanye-Stillwater.”