Impala Platinum Holdings Management

Management criteria checks 4/4

Impala Platinum Holdings' CEO is Nico Muller, appointed in Apr 2017, has a tenure of 7.58 years. total yearly compensation is ZAR39.54M, comprised of 31.5% salary and 68.5% bonuses, including company stock and options. directly owns 0.066% of the company’s shares, worth €3.42M. The average tenure of the management team and the board of directors is 5.8 years and 6.3 years respectively.

Key information

Nico Muller

Chief executive officer

R39.5m

Total compensation

CEO salary percentage	31.5%
CEO tenure	7.6yrs
CEO ownership	0.07%
Management average tenure	5.8yrs
Board average tenure	6.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Nico Muller's remuneration changed compared to Impala Platinum Holdings's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	R40m	R12m	-R17b
Mar 31 2024	n/a	n/a	-R12b
Dec 31 2023	n/a	n/a	-R7b
Sep 30 2023	n/a	n/a	-R1b
Jun 30 2023	R61m	R12m	R5b
Mar 31 2023	n/a	n/a	R19b
Dec 31 2022	n/a	n/a	R32b
Sep 30 2022	n/a	n/a	R32b
Jun 30 2022	R100m	R12m	R32b
Mar 31 2022	n/a	n/a	R34b
Dec 31 2021	n/a	n/a	R36b
Sep 30 2021	n/a	n/a	R41b
Jun 30 2021	R87m	R11m	R47b
Mar 31 2021	n/a	n/a	R42b
Dec 31 2020	n/a	n/a	R38b
Sep 30 2020	n/a	n/a	R27b
Jun 30 2020	R38m	R11m	R16b
Mar 31 2020	n/a	n/a	R9b
Dec 31 2019	n/a	n/a	R3b
Sep 30 2019	n/a	n/a	R2b
Jun 30 2019	R15m	R10m	R1b
Mar 31 2019	n/a	n/a	-R3b
Dec 31 2018	n/a	n/a	-R8b
Sep 30 2018	n/a	n/a	-R9b
Jun 30 2018	R16m	R9m	-R11b

Compensation vs Market: Nico's total compensation ($USD2.18M) is below average for companies of similar size in the German market ($USD3.58M).

Compensation vs Earnings: Nico's compensation has been consistent with company performance over the past year.

CEO

Nico Muller (58 yo)

7.6yrs

Tenure

R39,541,000

Compensation

Mr. Nicolaas Johannes Muller, also known as Nico, B.Sc., Mining Eng., has been the Chief Executive Officer and Executive Director of Impala Platinum Holdings Limited since April 3, 2017. Mr. Muller has a m...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Nicolaas Muller	CEO & Executive Director	7.6yrs	R39.54m	0.066% € 3.4m
Meroonisha Kerber	CFO, Debt Officer & Executive Director	6.3yrs	R20.05m	0.022% € 1.1m
Patrick Morutlwa	Group Chief Operating Officer	1.4yrs	R8.52m	no data
Mark Munroe	Group Chief Technical Officer	1.3yrs	R21.46m	no data
Kirthanya Pillay	Group Executive of Corporate Development	5.4yrs	R13.56m	no data
Sifiso Sibiya	Group Executive of Refining & Marketing	5.8yrs	R9.76m	no data
Lee-Ann Samuel	Group Executive of People & Executive Director	7.1yrs	R17.24m	0.016% € 809.7k
Johan Theron	Group Executive of Corporate Affairs	6yrs	R13.45m	no data
Tebogo Llale	Company Secretary	10.3yrs	R7.16m	no data
Tim Hill	Chief Executive Officer of Impala Canada	4.8yrs	R27.29m	no data
Moses Motlhageng	Chief Executive of Impala Rustenburg & CEO of Rustenburg Operations	1.3yrs	R10.31m	no data
Stefanie Vivier	Group Legal Services Manager	no data	no data	no data

5.8yrs

Average Tenure

49.5yo

Average Age

Experienced Management: IPHB's management team is seasoned and experienced (5.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Nicolaas Muller	CEO & Executive Director	7.6yrs	R39.54m	0.066% € 3.4m
Meroonisha Kerber	CFO, Debt Officer & Executive Director	6.3yrs	R20.05m	0.022% € 1.1m
Lee-Ann Samuel	Group Executive of People & Executive Director	7yrs	R17.24m	0.016% € 809.7k
Zacharias Swanepoel	Lead Independent Director	9.7yrs	R3.80m	0.0025% € 129.9k
Ralph Havenstein	Independent Non-Executive Director	3.8yrs	R2.11m	no data
Preston Speckmann	Independent Non-Executive Director	6.3yrs	R1.14m	no data
Mpho Elizabeth Nkeli	Independent Non-Executive Director	9.6yrs	R1.62m	no data
Dawn Earp	Independent Non-Executive Director	6.3yrs	R1.63m	no data
Noluthando Bahedile Orleyn	Independent Non-Executive Chairman	4.3yrs	R3.13m	0.000030% € 1.6k
Fholisani Mufamadi	Independent Non-Executive Director	9.7yrs	R2.57m	no data
Mametja Moshe	Independent Non-Executive Director	2.3yrs	R1.76m	no data
Boitumelo Koshane	Non-Executive Director	5.3yrs	R1.17m	no data

6.3yrs

Average Tenure

61yo

Average Age

Experienced Board: IPHB's board of directors are considered experienced (6.3 years average tenure).

Impala Platinum Holdings Management

Management criteria checks 4/4

Key information

Recent management updates

Impala Platinum Holdings Limited, Annual General Meeting, Oct 30, 2024

Impala Platinum Holdings Limited Approves the Appointment of Mametja Moshe as Audit and Risk Committee Member

Insufficient new directors

Impala Platinum Holdings Limited Announces Management Changes

CFO, Debt Officer & Executive Director recently sold €65k worth of stock

Impala Platinum Holdings Limited Announces Passing of an Independent Non-Executive Director, Peter William Davey

Recent updates

Now 20% undervalued

Now 24% undervalued after recent price drop

Full year 2024 earnings released: R19.29 loss per share (vs R5.77 profit in FY 2023)

First half 2024 earnings released: EPS: R1.80 (vs R16.49 in 1H 2023)

Impala Platinum Holdings Limited Provides Earnings Guidance for the Six Months Ended 31 December 2023

Impala Platinum Holdings Limited Provides Earnings Guidance for the Six Months Ended December 31, 2023

Impala Platinum Holdings Limited (JSE:IMP) acquired remaining 43.59% in Royal Bafokeng Platinum Limited for ZAR 2.7 billion.

Investor sentiment improves as stock rises 19%

Impala Platinum Holdings Limited, Annual General Meeting, Oct 30, 2024

Impala Platinum Holdings Limited Approves the Appointment of Mametja Moshe as Audit and Risk Committee Member

Investor sentiment deteriorates as stock falls 17%

Investor sentiment deteriorates as stock falls 19%

Now 24% undervalued after recent price drop

Investor sentiment improves as stock rises 18%

Upcoming dividend of R1.65 per share at 6.9% yield

Full year 2023 earnings released: EPS: R5.77 (vs R38.56 in FY 2022)

Impala Platinum Holdings Limited Declares Dividend for the Financial Year Ended 30 June 2023, Payable on 26 September 2023

Insufficient new directors

Investor sentiment deteriorates as stock falls 16%

New minor risk - Shareholder dilution

Investor sentiment improves as stock rises 15%

Investor sentiment deteriorates as stock falls 19%

Impala Platinum Holdings Limited Announces Management Changes

Upcoming dividend of R4.20 per share at 9.0% yield

First half 2023 earnings released: EPS: R16.49 (vs R16.93 in 1H 2022)

CFO, Debt Officer & Executive Director recently sold €65k worth of stock

Impala Platinum Holdings Limited Announces Passing of an Independent Non-Executive Director, Peter William Davey

Impala Platinum Holdings Limited, Annual General Meeting, Oct 11, 2023

Impala Platinum Holdings Limited to Report Fiscal Year 2023 Results on Aug 31, 2023

Board Member recently sold €334k worth of stock

Public Investment Corporation SOC Limited on behalf of its clients acquired an unknown minority stake in Impala Platinum Holdings Limited (JSE:IMP).

Upcoming dividend of R10.50 per share

Full year 2022 earnings released: EPS: R38.56 (vs R59.96 in FY 2021)

Investor sentiment deteriorated over the past week

Investor sentiment deteriorated over the past week

Investor sentiment deteriorated over the past week

Upcoming dividend of R5.25 per share

CFO, Debt Officer & Executive Director recently sold €165k worth of stock

First half 2022 earnings: EPS in line with expectations, revenues disappoint

Impala Platinum Holdings Limited Announces Interim Cash Dividend Results for the Six Months Ended 31 December 2021, Payable on 22 March 2022

Impala Platinum Holdings Limited Provides Earnings Guidance for the Six Months Ended December 31, 2021

Board Member recently sold €764k worth of stock

CEO & Executive Director recently sold €2.8m worth of stock

Investor sentiment improved over the past week

Impala Platinum Holdings Limited (JSE:IMP) (Implats) made an offer to acquire remaining 75.48% stake in Royal Bafokeng Platinum Limited (JSE:RBP) (RBPlat) for ZAR 31.4 billion.

Investor sentiment improved over the past week

Upcoming dividend of R12.00 per share

Full year 2021 earnings released: EPS R59.96 (vs R20.66 in FY 2020)

CEO & Executive Director recently sold €5.0m worth of stock

CEO & Executive Director recently sold €2.7m worth of stock

Upcoming Dividend of R10.00 Per Share

New 90-day high: €14.97

First half 2021 earnings released: EPS R32.22 (vs R4.39 in 1H 2020)

Impala Platinum Holdings Limited, Annual General Meeting, Oct 13, 2021

Investor sentiment improved over the past week

New 90-day high: €13.25

Impala Platinum Holdings Limited to Report First Half, 2021 Results on Feb 25, 2021

New 90-day high: €12.50

New 90-day high: €12.32

Impala Platinum Holdings Limited Appoints Ralph Havenstein as an Independent Non-Executive Director and Member of the Audit Committee with Effect from 1 January 2021

Market bids up stock over the past week

New 90-day high: €9.48

Impala Platinum Holdings Limited Appoints Meroonisha Kerber as Debt Officer

Market bids up stock over the past week

Market pulls back on stock over the past week

New 90-day high: €8.97

New 90-day high - €8.70

New 90-day high - €8.45

New 90-day high - €7.80