| Mon 8 Aug 2011, 7:10 | | GDO - Gold One International Limited - Competition Commission grants |
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GDO
GDO
GDO - Gold One International Limited - Competition Commission grants
unconditional approval for Rand Uranium transaction
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")
COMPETITION COMMISSION GRANTS UNCONDITIONAL APPROVAL FOR RAND URANIUM
TRANSACTION
Further to the announcement released by Gold One on 24 May 2011, Gold One
shareholders are advised that a clearance certificate, with no conditions,
has been issued by the South African Competition Commission approving 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, for a
purchase price of US$ 250 million ("transaction") in terms of Section
14(1)(b) of the Competition Act (Act 89 of 1998) as amended.
All other remaining conditions precedent to the transaction are progressing
well and in line with the amended Sale of Shares Agreement. These include,
inter alia, approval having been obtained from the exchange control
department of the South African Reserve Bank for the various aspects of the
transaction and a submission having been made to the Department of Mineral
Resources.
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
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.
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.
Date: 08/08/2011 07:10:06 Produced by the JSE SENS Department.
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