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Gold One’s share price jumps at BCX buy out of remaining shares

9th December 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – ASX- and JSE-listed Gold One’s share price jumped over 37% on the Johannesburg bourse and 47% on the ASX on Monday after majority shareholder consortium BCX Gold Investment Holdings said it planned to buy out the remaining shares it did not already own.

The China-based consortium, which comprised CITIC Group subsidiary Baiyin Non-Ferrous Group, China Development Bank’s China-Africa Development Fund and Long March Capital Group, which increased its stake in Gold One from 88.77% to 90.03% in July, would acquire the remaining shares for A$0.30 a share.

A compulsory acquisition notice of its intention to exercise its buy-out rights said an objection period would close on January 13, with the outcome expected to be released on January 15.

Gold One would be delisted from both the ASX and the JSE on January 30, following the suspension of trade on January 17.

Edited by Creamer Media Reporter

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