| Tue 24 May 2011, 7:05 | | GDO - Gold One International Limited - Gold One Signs Sale Agreement to Acquire |
|
GDO
GDO
GDO - Gold One International Limited - Gold One Signs Sale Agreement to Acquire
100% of Rand Uranium
Gold One International Limited
Registered in Western Australia under the Corporations Act, 2001 (Cth)
Registration number ACN: 094 265 746
Registered as an external company in the Republic of South Africa
Registration number: 2009/000032/10
Share code on the ASX/JSE: GDO
OTCQX International: GLDZY
ISIN: AU000000GDO5
("Gold One" or the "company")
Gold One Signs Sale Agreement to Acquire 100% of Rand Uranium
Gold One is pleased to announce that a Sale of Shares Agreement (the "Sale
Agreement") has been signed, to give effect to the acquisition by a Gold One
subsidiary of 100% of Rand Uranium (Proprietary) Limited ("Rand Uranium") from
the Rand Uranium shareholders Pamodzi Uranium (Proprietary) Limited, Pamodzi
Cooke (Proprietary) Limited and Armgold/Harmony Joint Investment Company
(Proprietary) Limited (collectively referred to as the "Sellers"), for a
purchase price of US$ 250 million.
The Sale Agreement reflects the material terms and conditions outlined in the
binding offer submitted by Gold One and accepted by the Sellers, as detailed in
the announcement released by the company on 28 April 2011.
The Sale Agreement is subject to the fulfillment or waiver, as the case may be,
of certain conditions precedent, which are customary for transactions of this
nature, which are required to be fulfilled or waived on or before the date
falling 16 months after the date of the Sale Agreement. Such conditions
precedent include, inter alia:
- The approval of by the competition authorities of the Republic of South
Africa;
- That the Sellers and Gold One obtain approval from the South African
exchange control authorities;
- The passing of such resolutions as may be required by Gold One`s
shareholders in general meeting, to the extent required;
- All necessary consents being obtained from the Minister of the Department
of Mineral Resources in South Africa;
- All necessary approvals being obtained from the ASX Limited and the JSE
Limited;
- Gold One having closed its financing arrangements.
Gold One President and CEO Neal Froneman comments: "I am pleased that we were
able to conclude the Sale Agreement in a timely and efficient manner, allowing
us to proceed with this transaction as quickly as possible. I remain highly
confident that this acquisition will be value-enhancing for Gold One
shareholders."
Parktown, Johannesburg
24 May 2011
MACQUARIE FIRST SOUTH ADVISERS (PTY) LIMITED
JSE Sponsor
For and on behalf of Gold One:
Corporate Advisor:
Qinisele Resources (Proprietary) Limited
JSE Sponsor:
Macquarie First South Advisers (Proprietary) Limited
Australian Corporate Advisor:
Hartleys Limited
South African Legal Advisor:
Edward Nathan Sonnenbergs
Australian Legal Counsel:
Blake Dawson
Issued by Gold One International Limited
www.gold1.co.za
For further information contact:
Neal Froneman Ilja Graulich
President and CEO Investor Relations
+27 11 726 1047 (office) +27 11 726 1047 (office)
+27 83 628 0226 (mobile) +27 83 604 0820 (mobile)
neal.froneman@gold1.co.za ilja.graulich@gold1.co.za
Carol Smith Derek Besier
Investor Relations Farrington National Sydney
+27 11 726 1047 (office) +61 2 9332 4448 (office)
+27 82 338 2228 (mobile) +61 421 768 224 (mobile)
carol.smith@gold1.co.za derek.besier@farrington.com.au
About Gold One
Gold One is a gold producer listed on the financial markets operated by ASX
Limited and the JSE Limited, issuer code GDO. Its flagship operation is the
newly built shallow Modder East mine on the East Rand, some 30 kilometres from
Johannesburg.
Modder East is the first new mine to be built in the region in 28 years and
distinguishes itself from most of the other gold mines in South Africa owing to
its shallow nature (300 metres to 500 metres below surface). To date Modder East
has provided direct employment opportunities for over 1,100 people. Gold One
also owns the nearby existing Sub Nigel mine, which is used primarily as a
training centre in the build-up of Modder East to full production. Gold One`s
other projects and targets include Ventersburg in the Free State Goldfields, the
Tulo concession in Mozambique and the Etendeka greenfield project in Namibia.
Gold One has an issued share capital of 807,664,732 shares.
Forward-Looking Statement
This release includes certain forward-looking information. All statements other
than statements of historical fact included in this release including, without
limitation, statements regarding future plans and objectives of Gold One are
forward-looking statements (or forward-looking information) that involve various
risks, assumptions and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual values, results and future
events could differ materially from those anticipated in such statements.
Important factors could cause actual results to differ materially from Gold
One`s expectations. Such factors include, among others: the actual results of
exploration activities; actual results of reclamation activities; the estimation
or realisation of mineral reserves; the timing and amount of estimated future
production; costs of production; capital expenditures; costs and timing of the
development of Modder East and new deposits; availability of capital required to
place Gold One`s properties into production; the ability to obtain or maintain a
listing in South Africa, Australia, Europe or North America; conclusions of
economic evaluations; changes in project parameters as plans continue to be
refined; future prices of gold and other commodities; possible variations in ore
grade or recovery rates; failure of plant, equipment or processes to operate as
anticipated; accidents; labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals, permits or financing or in the
completion of the development or construction activities, economic and financial
market conditions; political risks; Gold One`s hedging practices; currency
fluctuations; title disputes or claims limitations on insurance coverage.
Although Gold One has attempted to identify important factors that could cause
actual results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated or intended. Any forward-looking
statements in this release speak only at the time of issue. There can be no
assurance that such statements will prove to be accurate as actual values,
results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-
looking statements. Gold One does not undertake to update any forward-looking
statements that are included herein, or revise any changes in events, conditions
or circumstances on which any such statement is based, except in accordance with
application securities laws and stock exchange listing requirements.
Date: 24/05/2011 07:05:42 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
