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Gold One makes offer for remaining 28% stake in Goliath

22nd September 2015

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – JSE-listed Gold One Africa has made a firm offer to acquire the remaining 41.2-million 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, this week concluded a written transaction implementation agreement that would see Goliath delist from the JSE once the transaction was completed.

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, or a combination thereof.

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

The deal remained subject to the conclusion of conditions precedent by December 31, including the approval of shareholders, governmental and regulatory bodies, the JSE and South African Reserve Bank, besides others.

Edited by Creamer Media Reporter

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