| Wed 7 Sep 2011, 11:12 | | GDO - Gold One International Limited - Shareholders overwhelmingly approve |
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GDO
GDO
GDO - Gold One International Limited - Shareholders overwhelmingly approve
Resolutions
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
ISIN: AU000000GDO5
OTCQX International: GLDZY
("Gold One" or the "company")
Shareholders Overwhelmingly Approve Resolutions
Gold One is pleased to announce that the company`s shareholders have
overwhelmingly approved two resolutions pertaining to the proposed
introduction of a Chinese consortium as a strategic partner, by way of an
interconditional takeover bid and subscription for shares ("Jintu
transaction"). Shareholders approved the injection of at least A$150 million
in new capital into the company by way of issue of shares to the Chinese
consortium ("Resolution 1"), as well as retention payments to Neal Froneman
and Christopher Chadwick ("Resolution 2").
Resolution 1 was approved by a majority of 99.71% (and 91.65% by number of
shareholders who were present and voted, either in person or by proxy or by
representative), while Resolution 2 was approved by a majority of 98.25%.
Detailed results of the resolutions are set out in a separate announcement.
The approval of Resolution 1 means that one of the key conditions precedent
to the Jintu transaction has been fulfilled. Remaining conditions precedent
include approval by the Chinese Regulatory Authorities as well as Australian
Foreign Investment Review Board approval.
Gold One President and CEO Neal Froneman comments: "I am very pleased that
more than 60% of those shareholders eligible to vote have given us such
fantastic support for the resolutions. I firmly believe that shareholders
have understood the benefits to the company as well as the potential for
future growth that the combination of Gold One and the Chinese consortium
brings to the table. We look forward to receiving the remaining regulatory
approvals in the near future and to embark on this exciting growth
strategy."
ENDS
Issued by Gold One International Limited
Website: www.gold1.co.za
Parktown, Johannesburg
07 September 2011
JSE SPONSOR
Macquarie First South Capital (Pty) Limited
For further information please 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
809,003,092 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: 07/09/2011 11:12:01 Produced by the JSE SENS Department.
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