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GDO - Gold One International Limited - FIRB approval obtained, update on
Consortium composition and timetable
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")
FIRB APPROVAL OBTAINED, UPDATE ON CONSORTIUM COMPOSITION AND TIMETABLE
On 16 May 2011, Gold One International Limited (ASX and JSE: GDO)
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 BCX
Gold Investment Holdings Limited ("BCX Gold"), a special purpose vehicle
formed by the Consortium, making a cash offer of A$0.55 per existing Gold
One share ("Offer") and a minimum A$150 million capital injection into
Gold One ("Transaction").
FIRB Approval
BCX Gold has given notice to Gold One that it has approval from the
Australian Foreign Investment Review Board for the Transaction, and has
given ASX notice to that effect.
Consortium Composition
On 3 August 2011, BCX Gold issued a Bidder`s Statement in relation to the
Offer ("Bidder`s Statement") stating that Gold One will release an
announcement if Xinyin Global Resources Fund LLP, a possible additional
Consortium member, does not join the Consortium. BCX Gold has confirmed
to Gold One that Xinyin Global Resources Fund LLP will not be introduced
into the Consortium structure prior to completion of the Transaction. As
a result, the structure set out in section 3.3 of the Bidder`s Statement
remains an accurate description of the ownership of BCX Gold at or before
the end of the period during which the Offer is open for acceptance by
Gold One shareholders (the "Offer Period").
Timetable
Gold one has been advised by the Consortium that it will be varying the
Offer by extending the Offer Period to now close on 7.00pm (Sydney time)/
10.00am (South African time) on Thursday 15 December 2011 (unless further
extended or withdrawn). BCX Gold will be releasing a notice of variation
extending the Offer Period and notice under section 630(2)(b) of the
Australian Corporations Act 2001 (Cth) shortly.
The Offer Period is being extended due to the regulatory approvals in the
People`s Republic of China taking longer than anticipated. However, as
noted in Gold One`s announcement dated 19 October 2011, a key Chinese
regulatory approval, being that of the Chinese National Development and
Reform Commission, has been obtained.
The timetable relating to the Offer is therefore updated as set out
below.
Gold One will provide a more detailed timetable relating to the
Transaction in due course.
Date for announcing if the Offer has 14 days before the Offer closes,
become unconditional (subject to being Thursday, 01 December 2011
extension)
Last day to trade "cum" the Offer in Thursday, 08 December 2011
Gold One securities on the JSE in
order to be recorded on Gold One`s
South African register
Record date on which South African Thursday, 15 December 2011
shareholders must be recorded on the
Gold One`s South African register in
order to receive the Offer
consideration
Offer Period under the Offer ends 10.00 am CAT / 7.00 pm AEST on
(subject to extension) Thursday, 15 December 2011
Expected date of payment of Offer Friday, 23 December 2011
consideration to shareholders
(Note: This date is subject to change
and depends on when shareholders
accept the Offer)
Notes:
1. The above timetable is subject to change. Any changes will be
announced through the ASX Companies Announcement Platform and
the Securities Exchange News Service of the JSE.
2. Shareholders are specifically informed that the closing date
for the Offer may change as permitted by the Australian
Corporations Act 2001 (Cth) and this will affect some of the
key dates set out above.
3. CAT means Central African Time and AEST means Australian
Eastern Standard.
ENDS
Johannesburg
26 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 809,010,382 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: 26/10/2011 07:06:01 Supplied by www.sharenet.co.za
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