| Fri 1 Jul 2011, 7:05 | | GDO - Gold One International Limited - AGC Acquisition by the Chinese Consortium |
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GDO
GDO
GDO - Gold One International Limited - AGC Acquisition by the Chinese Consortium
Unconditional
Gold One International Limited
Registered in Western Australia under the Corporations Act, 2001 (Cth) with
registration number ACN: 094 265 746
(Registered in South Africa as an external company with registration number
2009/000032/10)
ISIN: AU000000GDO5
Share Code on the ASX/JSE: GDO
OTCQX International: GLDZY
("Gold One" or the "company")
AGC Acquisition by the Chinese Consortium Unconditional
Gold One International Limited announces that as per the Notice of Initial
Substantial Holder released on 21 April 2011, and referred to in the
announcement released by Gold One on 16 May 2011, Baiyin Non-Ferrous Group Co
Limited ("Baiyin") had agreed with Navada Trading (Proprietary) Limited
("Navada"), a subsidiary of African Global Capital (SA) (Proprietary) Limited
("AGC") to acquire the 17.64% shareholding in Gold One (142,689,350 Gold One
shares) (the "AGC Shares") from Navada, for A$75,625,355.50, being A$0.53
for each Gold One share (the "AGC Acquisition"). Baiyin has nominated that a
wholly owned subsidiary of Baiyin, Baiyin Precious Metals Investment Ltd
("BPM"), acquires the AGC Shares.
Gold One is pleased to announce it has been informed that the conditions
precedent to completion for the AGC Acquisition have been fulfilled. To
accommodate certain administrative arrangements for the payment and transfer
of the AGC shares, Baiyin and AGC have agreed to finalise the completion of
the transaction by 15 July 2011, and amend the terms of their agreement
accordingly.
Background to AGC Acquisition
Gold One announced on 16 May 2011 that it had entered into an agreement to
implement a series of interdependent transactions with BCX Gold Investment
Holdings Ltd ("BCX Gold"), a company representing a consortium of investors
from the PRC ("Consortium"), which will include Baiyin, the China-Africa
Development Fund and Long March Capital Group. The Consortium is seeking to
become the long-term strategic partner of Gold One and its major shareholder.
The AGC Acquisition becoming unconditional signifies a major step in the
completion of this process.
Baiyin Precious Metals Investment Ltd has an understanding with BCX Gold to
transfer the AGC Shares to BCX Gold.
Issued by Gold One International Limited www.gold1.co.za
Johannesburg
1 July 2011
JSE Sponsor
Macquarie First South Advisers (Pty) Limited
For further information contact:
Neal Froneman
President and CEO
+27 11 726 1047 (office)
+27 83 628 0226 (mobile)
neal.froneman@gold1.co.za
Ilja Graulich
Investor Relations
+27 11 726 1047 (office)
+27 83 604 0820 (mobile)
ilja.graulich@gold1.co.za
Carol Smith
Investor Relations
+27 11 726 1047 (office)
+27 82 338 2228 (mobile)
carol.smith@gold1.co.za
Derek Besier
Farrington National Sydney
+61 2 9332 4448 (office)
+61 421 768 224 (mobile)
derek.besier@farrington.com.au
About Gold One
Gold One is a gold producer listed on the financial markets operated by
the 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 1,200 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 has an issued share
capital of 808, 848,230 shares.
Date: 01/07/2011 07:05:01 Produced by the JSE SENS Department.
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