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Voluntary announcement to the market: update on key developments
WESIZWE PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/020161/06)
Share code: WEZ
ISIN: ZAE000075859
("Wesizwe" or the "Company")
VOLUNTARY ANNOUNCEMENT TO THE MARKET: UPDATE ON KEY
DEVELOPMENTS
Security Compromise in terms of section 22(1)(B) of The Protection of Personal
Information Act, 2013
Wesizwe shareholders ("Shareholders") are referred to the announcement made by the
Company on 10 December 2024, where Wesizwe management detected a compromise in
the Company's information management systems ("Security Compromise"). Further to this
announcement, Shareholders are hereby provided with an update regarding the Security
Compromise.
Immediately after the Security Compromise, Wesizwe initiated a rigorous exercise of impact
analysis and disaster recovery to assess the damage.
Wesizwe initiated recovery and restoration efforts to reinstate all essential systems and data
necessary for returning to its normal operations. Data recovery experts are making significant
progress in this regard. The Company has also implemented more stringent cyber security
and access control measures, which include software upgrades, policy updates and
employee capacity-building initiatives to increase awareness and ensure the integrity of its
IT systems.
Wesizwe continues to conduct systems vulnerability assessments and penetration testing to
identify and fix security vulnerabilities in its systems.
Delay in the publication of the Company's Audited Consolidated Annual Financial
Statements and Integrated Annual Report for the year ended 31 December 2024
Shareholders are referred to the announcement made by the Company on 10 March 2025,
wherein the Company advised of a delay in the publication of the Wesizwe Audited Annual
Financial statements for the year ended 31 December 2024 ("AFS"), Integrated Annual
Report ("IAR") and notice of Annual General Meeting ("Notice of AGM").
Shareholders are further advised that Wesizwe continues to work diligently with its auditors
and remains firmly committed to publishing the AFS, IAR and Notice of AGM as soon as
possible and will keep Shareholders duly informed of any further developments.
Follow-up Going Concern
Shareholders are referred to the announcement on 8 January 2025 relating to the going
concern update and are advised that the approval process for the letter of support beyond
the current funding cap of US$1 519 million is ongoing. This approval is required from the
China National Development and Reform Committee (NDRC). Wesizwe is actively working
with Jinchuan Hong Kong and Jinchuan Group to finalize the updated funding application
report for the Bakubung Project. The Company confirms that it still anticipated to complete
the application process for the funding by the end of June 2025.
Johannesburg
10 April 2025
Sponsor
PSG Capital
Date: 10-04-2025 01:20:00
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