| Mon 8 Aug 2011, 7:05 | | GDO - Gold One International Limited - South African Competition Commission |
|
GDO
GDO
GDO - Gold One International Limited - South African Competition Commission
grants unconditional approval for A$0.55 per share cash offer to Gold One
shareholders
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")
SOUTH AFRICAN COMPETITION COMMISSION GRANTS UNCONDITIONAL APPROVAL FOR A$0.55
PER SHARE CASH OFFER TO GOLD ONE SHAREHOLDERS
On 16 May 2011, Gold One announced that it had entered into an agreement to
implement a transaction with a consortium of Chinese investors (the
"Consortium") whereby the Consortium is seeking to become the major
shareholder and long term strategic partner of Gold One. The transaction
comprises a series of interdependent transactions, including a cash offer of
A$0.55 per existing Gold One share and a minimum A$150 million capital
injection into Gold One (the "Transaction").
Gold One is pleased to announce that it has been informed by the Consortium
that the Competition Commission of South Africa has unconditionally approved
the Transaction in terms of section 14(1)(b) of the Competition Act (Act 89 of
1998), as amended.
All other remaining regulatory conditions precedent to the Transaction which
include, inter alia, approval by the Namibian Competition Commission as well
as relevant Chinese approvals, are progressing well and in line with the
anticipated timetable.
ENDS
Parktown, Johannesburg
08 August 2011
JSE Sponsor
MACQUARIE FIRST SOUTH ADVISERS (PTY) LIMITED
Issued by Gold One International Limited
www.gold1.co.za
For further information contact:
On behalf of Gold One:
Neal Froneman
President and CEO
+27 11 726 1047 (office)
+27 83 628 0226 (mobile)
neal.froneman@gold1.co.za
Mark Wheatley
Chairman
+61 2 9963 6400 (office)
+61 417 688 539 (mobile) mark.wheatley@gold1.com.au
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
Sean Chilvers
Macquarie Capital
+27 11 583 2283 (office)
+27 83 280 4101 (mobile) sean.chilvers@macquarie.com
Grey Egerton-Warburton
Hartleys
+61 8 9268 2851 (office)
+61 417 355 165 (mobile) grey_warburton@hartleys.com.au
On behalf of the Consortium:
Clement Kwong
Long March Capital
+86 108 515 1966 (office)
+86 1860 218 9000 (mobile) clement@longmarchcapital.com
Craig Forbes
Rand Merchant Bank
+27 11 282 1156 (office)
+27 72 237 2001 (mobile) craig.forbes@rmb.co.za
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 1 100 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 808,990,251 shares.
About the Consortium
The members of the Consortium are established and based in the People`s
Republic of China (PRC). The Consortium is led principally by Baiyin Non-
Ferrous Group Co Ltd, which is a Gansu-based resources smelting and extraction
company with a history of more than 50 years in China. China Africa
Development Fund is primarily a financial investor, and its parent, the China
Development Bank Corporation is also interested in exploring opportunities for
follow-on debt and acquisition financing arising from an investment in Gold
One. Long March Capital Limited is a privately-held investment manager based
in Beijing and focussed on the transactional management of resources
investments by Chinese capital abroad. Long March Capital Limited co-invests
in transactions such as the investment in Gold One, which will be made through
co-managed PRC-based and offshore investment vehicles. CITIC Kingview Capital
Management Co. Ltd is an investment management company, established in 2007,
and held jointly by CITIC Group, CITIC Trust and CITIC Capital, which focuses
on the management of Chinese corporate and individual capital investing in
various sectors including real estate, private equity, pre-IPOs and resources.
This news release does not constitute investment advice. Neither this news
release nor the information contained in it constitutes an offer, invitation,
solicitation or recommendation in relation to the purchase or sale of
securities in any jurisdiction.
This announcement is not for distribution, directly or indirectly, in or into
the United States and does not constitute or form part of an offer or
solicitation to acquire any securities of Gold One in the United States.
Date: 08/08/2011 07:05:09 Produced by the JSE SENS Department.
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