About the Thusano Trust
The Thusano Trust was created in 2010 by Gold Fields as an employee share ownership scheme. It gave eligible employees in Patterson bands A, B and C a stake in Gold Fields, recognising their contribution and ensuring that they could benefit from South Africa’s mineral resources.
In 2012, when Sibanye-Stillwater was established, the same beneficiaries were also allocated Sibanye-Stillwater shares, and in 2019 further Sibanye-Stillwater shares were added. Altogether, more than 46,000 employees became beneficiaries of the Trust.
The shares were held by the Trust for 15 years. On 1 December 2025, the shares vested — meaning beneficiaries were able to claim their value. From this date, beneficiaries could elect to:
- Sell their shares and receive the cash value (after tax);
- Transfer their shares to a broker; or
- Do a combination of both.
The Johannesburg Stock Exchange’s Investor Services (JIS) manages the Trust on behalf of beneficiaries. Payouts and transfers began in March 2026.
The Thusano Trust was created to ensure that employees shared in the value they helped to create.
Thusano Trust timeline
TRUST ESTABLISHED
1 December 2010
Thusano Trust established. Shares issued to Gold Fields employees (beneficiaries) employed for a month or longer, on Patterson bands A, B and C
2012 and 2019
2012 and 2019
Thusano Trust beneficiaries receive shares in Sibanye-Stillwater
ACTION REQUIRED
22 November 2025
Deadline for beneficiaries to decide if they wanted to sell their shares, transfer them to their personal broker, or sell some and transfer others
VESTING DATE
1 December 2025
Thusano Trust vesting date, when beneficiaries became the owners of their Gold Fields and Sibanye-Stillwater shares
PAYOUT
March 2026
Thusano Trust begins making payments and transfers to beneficiaries, after deducting tax and fees
From 1 Dec 2010 to 1 Dec 2025 is a 15-year period during which beneficiaries received dividends when declared
