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GDO - Gold One International Limited - Update on AUD0.55 per share Cash
Offer
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")
Update on AUD0.55 per share Cash Offer
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 ("Cash Offer") and a minimum
A$150 million capital injection into Gold One (the "Transaction").
On 22 June 2011, Gold One announced that it expected that a Bidder`s
Statement would be dispatched by the Consortium to Gold One shareholders
by mid July and that, at the same time, Gold One would dispatch a
Target`s Statement and a Notice of Meeting to Gold One Shareholders.
On 23 June 2011, copies of the Bidder`s Statement, Target`s Statement
and Notice of Meeting were lodged with the Australian Securities and
Investment Commission ("ASIC") for review. Gold One is currently
addressing certain queries raised by ASIC as part of its review. As
such, Gold One advises that the dispatch of the documents is now
expected to occur by the end of July 2011.
In addition, the Consortium has advised Gold One that ASIC has granted
BCX Gold Investment Holdings Ltd ("BCX Gold"), the company through which
the Consortium is undertaking the Transaction, an extension of time
under section 655A(1)(b) of the Corporations Act 2001 (Cth) (the "Act")
to allow BCX Gold to make its Cash Offer to Gold One shareholders by 1
August 2011. Ordinarily, section 631(1)(b) of the Act requires that an
offer be made within two months after a takeover is announced. As the
Cash Offer was announced on 16 May 2011, the two month period would have
otherwise expired on 18 July 2011.
All other regulatory conditions precedent to the Transaction are
progressing well.
Issued by Gold One International Limited
Website: www.gold1.co.za
Parktown, Johannesburg
14 July 2011
JSE SPONSOR
Macquarie First South Advisers (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
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 1,200 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 has an issued share capital of 808,989,951 shares.
Forward-Looking Statement
This release includes certain forward-looking statements and forward-
looking information. All statements other than statements of historical
fact included in this release including, without limitation, statements
regarding future plans and objectives of Gold One International Limited
are forward-looking statements (or forward-looking information) that
involve various risks, assumptions and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
values, results and future events could differ materially from those
anticipated in such statements. Important factors could cause actual
results to differ materially from Gold One`s expectations. Such factors
include, among others: the actual results of exploration activities;
actual results of reclamation activities; the estimation or realisation
of mineral reserves and resources; the timing and amount of estimated
future production; costs of production; capital expenditures; costs and
timing of the development of Modder East and new deposits;
availability of capital required to place Gold One`s properties into
production; the ability to obtain or maintain a listing in South Africa,
Australia, Europe or North America; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined; future
prices of gold and other commodities; possible variations in ore grade
or recovery rates; failure of plant, equipment or processes to operate
as anticipated; accidents; labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals, permits or
financing or in the completion of development or construction
activities, economic and financial market conditions; political risks;
Gold One`s hedging practices; currency fluctuations; title disputes or
claims limitations on insurance coverage. Although Gold One has
attempted to identify important factors that could cause actual results
to differ materially, there may be other factors that cause results not
to be as anticipated, estimated or intended.
Any forward-looking statements in this release speak only at the time of
issue. There can be no assurance that such statements will prove to be
accurate as actual values, results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
Gold One does not undertake to update any forward-looking statements
that are included herein, or revise any changes in events, conditions or
circumstances on which any such statement is based, except in accordance
with applicable securities laws and stock exchange listing requirements.
Date: 14/07/2011 10:54:01 Supplied by www.sharenet.co.za
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