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Gold One eyes Goliath Gold buyout

29th July 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – JSE-listed Gold One Africa has made a nonbinding expression of interest to acquire the remaining shares it does not already own in Goliath Gold for up to R66-million.

Gold One, which currently held 72% of the issued share capital of Goliath Gold, planned to table a firm intention to proceed once the requisite Chinese regulatory approvals had been obtained in August.

The company offered shareholders an immediate cash payment of R1 a share, equating to R41.2-million, or an 18-month deferred cash payment of R1.60 a share, totalling R66-million.

Gold One would automatically opt for the immediate payout option should shareholders fail to select their preferred payment method.

Goliath Gold’s closing share price on July 28 was R1.50 a share.

Edited by Creamer Media Reporter

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