Listed Mining Companies
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JOHANNESBURG (miningweekly.com) – South African gold major Gold Fields on Monday declared its offer for exploration firm Glencar Mining, unconditional.
Gold Fields announced in July that it would buy Dublin-headquartered Glencar, which has operations in Mali, Ghana and Uganda, in a £28-million deal.
On September 4, Gold Fields received the valid acceptance of more than 252,9-million Glencar shares, representing about 83,16% of the nominal value of the existing issued share capital of Glencar, thereby satisfying the 80% acceptance condition.
The Gold Fields offer now remained open for acceptance, until further notice.
Under the terms of the offer, Glencar shareholders would be entitled to receive, 9p for each Glencar share. The consideration valued the entire issued and to be issued share capital of Glencar at about £28-million.
