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Cautionary Announcement
GOLIATH GOLD MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number 1933/004523/06)
Share code: GGM ISIN: ZAE000154753
(“Goliath Gold” or “the Company”)
CAUTIONARY ANNOUNCEMENT
Shareholders are advised that Gold One Africa Limited (“Gold One Africa”), which holds 72.0% of the
issued share capital of Goliath Gold and which is an indirectly wholly-owned subsidiary of Gold One
International Limited (Cayman Islands), has submitted a non-binding expression of interest to Goliath Gold
to acquire the Goliath Gold ordinary shares that it does not already own (“Proposed Scheme Shares”) by
way of a scheme of arrangement in terms of section 114 of the Companies Act, 2008 (Act 71 of 2008), as
amended (“Proposed Scheme”).
In terms of the Proposed Scheme, shareholders could elect to receive either an immediate cash payment of
R1.00 per share (total offer value of R41.2 million), on the date of implementation of the Proposed Scheme
(“Proposed Scheme Implementation Date”) (“Immediate Payment”), or a deferred cash payment of R1.60
per share (total nominal offer value of R66 million) after the expiry of a period of 18 months following the
Proposed Scheme Implementation Date (“Deferred Payment”), or a combination thereof in such ratio as
may be elected by the shareholder (“Offer”). Should a shareholder fail to make a payment election, such
shareholder will be deemed to have elected the Immediate Payment. The Goliath Gold closing share price
on 28 July 2015 was R1.50 per share.
Shareholders are advised that the Proposed Scheme is subject to, inter alia, Gold One Africa obtaining the
requisite Chinese regulatory approvals, which approvals are expected to be received during the month of
August 2015, following which a firm intention to proceed will be submitted to Goliath Gold by Gold One
Africa.
Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a
further announcement is made.
Johannesburg
29 July 2015
Corporate Adviser and Sponsor
Merchantec Capital
Date: 29/07/2015 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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