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.