| Wed 19 Oct 2011, 7:05 | | GDO - Gold One International Limited - Key Chinese Government approval |
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GDO
GDO
GDO - Gold One International Limited - Key Chinese Government approval
received 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) 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")
KEY CHINESE GOVERNMENT APPROVAL RECEIVED FOR A$0.55 PER SHARE CASH OFFER TO
GOLD ONE SHAREHOLDERS
On 16 May 2011, Gold One International Limited 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 the Consortium has informed the company
that it has received approval to proceed with the Transaction from the
National Development and Reform Commission ("NDRC") of the People`s Republic
of China, one of the key Chinese government approvals required by the
Consortium and a major condition precedent to completion of the Transaction.
It understands that approvals by the Ministry of Commerce ("MOFCOM") and
subsequently, the State Administration for Foreign Exchange ("SAFE") are on
track.
Gold One President and CEO Neal Froneman comments: "I am very pleased that we
have reached another significant milestone in this transaction. We understand
that the NDRC approval is probably the most significant of the Chinese
approvals, and look forward to receiving the other approvals."
Johannesburg
19 October 2011
JSE Sponsor
Macquarie First South Capital (Pty) Limited
Issued by Gold One International Limited
www.gold1.co.za
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 Limited
+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
809,004,592 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: 19/10/2011 07:05:01 Produced by the JSE SENS Department.
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