Shaft Sinkers Holdings PLC : Impact of AMCU Strike

31 January 2014

Shaft Sinkers Holdings plc

("Shaft Sinkers" or "the Group")

Impact of AMCU Strike

Shaft Sinkers Holdings plc (LSE:SHFT), the international shaft sinking and underground construction group, provides an update on the ongoing strike action by members of The Association of Mineworkers and Construction Union ("AMCU") involving its clients, Impala Platinum Holdings Ltd. and Lonmin Plc., and the impact it has on Shaft Sinkers' operations at those sites.

Whilst Shaft Sinkers' employees are not on strike, a number of its projects for these clients have been impacted by the current strike action at these sites, although the situation at each site remains fluid. The remainder of the Group's South African projects are unaffected.  

The Board believes that the strike could result in a material negative impact on the Group's revenues and profits for the year ended 31 December 2014 if the strike situation prevails for an extended period. T he Group continues to monitor the labour situation in South Africa closely and will make further announcements as and when appropriate.

Ends

For further information:

Shaft Sinkers Holdings plc+44 787 595 1362

Alon Davidov, Chief Executive Officer

Chris Hall, Chief Financial Officer

Aura Financial                                                 +44 (0) 207 321 0000

Michael Oke / Andy Mills

Notes to editors

Shaft Sinkers

Shaft Sinkers Holdings specialises in the sinking of particularly deep and wide vertical and decline shafts and the development of underground infrastructure, used primarily in mining and hydropower applications.

The Group is a world leader in vertical shaft sinking with a focus on particularly deep and/or wide vertical shafts. It has the capability to sink shafts through all types of rock strata, including running sands and clay. The Group works principally for established mining and infrastructure companies.

Historically, the Group has completed projects in over 20 countries worldwide across Africa, Europe, South America, the Middle East, Asia and Australia. The Group was responsible for sinking one of the deepest ever man and material South African shafts, a secondary shaft at the Western Deep Levels to a depth of 3,131 metres below bank.

Major current projects and customers include the Shaft 17 complex for Impala Platinum, Leeuwkop for Afplats, the Styldrift project for Anglo Platinum and Royal Bafokeng Resources, the Karee 3, Hossy and Saffy projects for Lonmin as well as Rampura Agucha for Hindustan Zinc Limited and Kibali Goldmines for Randgold Resources.