AngloGold Ashanti notes Randgold Resources agreement with Moto Goldmines
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| Thursday, August 06, 2009 |
Further to its announcement of 27 July 2009, AngloGold Ashanti Limited (AngloGold Ashanti) is pleased to note that Moto Goldmines Limited (Moto or the Company) (TSX:MGL) (AIM:MOE) has entered into an arrangement agreement with Randgold Resources Limited (Randgold) to implement an acquisition of the Company. The board of Moto has today unanimously recommended the transaction (the Randgold Transaction) to its shareholders.
The terms of the Randgold Transaction in the arrangement agreement are as announced by Randgold on 16 July 2009, whereby Moto shareholders would receive 0.07061 of an ordinary share of Randgold (or, where applicable, 0.07061 of an American Depositary Share (ADS) of Randgold) per Moto share. In addition, Moto shareholders would be provided with the option to elect to receive (in lieu of Randgold shares or ADSs) cash consideration of US$4.47 per Moto share in respect of all or some of their Moto shares, subject to proration based on an aggregate maximum cash amount payable to all Moto shareholders of approximately US$244 million.
Upon closing of the Randgold Transaction, whic h is conditional on customary terms and conditions including the approval of Moto shareholders, AngloGold Ashanti will acquire an indirect 50% interest in Moto for approximately US$244 million in cash, plus a 50% share in certain other transaction related liabilities and expenses. AngloGold Ashanti has received all necessary regulatory and other approvals to implement this transaction.
Shareholders are referred to separate announcements made by Moto and Randgold today describing in greater detail the above arrangements.
Financial Advisor to AngloGold Ashanti
CIBC
Legal Advisors to AngloGold Ashanti
Fasken Martineau DuMoulin LLP
Shearman & Sterling LLP
JSE Sponsor
UBS
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| Alan Fine (Media) |
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afine@AngloGoldAshanti.com |
| Joanne Jones (Media) |
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+27 (0) 82 896 0306 |
jjones@anglogoldashanti.com |
| Sicelo Ntuli (Investors) |
+27 (0) 11 637 6339 |
+27 (0) 71 608 0991 |
sntuli@anglogoldashanti.com |
| Stewart Bailey (Investors) |
+1 212 836 4303 |
+1 646 717 3978 |
sbailey@anglogoldashanti.com |
Disclaimer
Certain statements made in this communication, including, without limitation, those concerning AngloGold Ashantis strategy to reduce its gold hedging position including the extent and effects of the reduction, the economic outlook for the gold mining industry, expectations regarding gold prices, production, cash costs and other operating results, growth prospects and outlook of AngloGold Ashantis operations, individually or in the aggregate, including the completion and commencement of commercial operations of certain of AngloGold Ashantis exploration and production projects and completion of acquisitions and dispositions, AngloGold Ashantis liquidity and capital resources, and expenditure and the outcome and consequences of any pending litigation proceedings, contain certain forward- looking statements regarding AngloGold Ashantis operations, economic performance and financial condition. Although AngloGold Ashanti believes that the expectations reflected in such forward- looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, f luctuations in gold prices and exchange rates, and business and operational risk management. For a discussion of such factors, refer to AngloGold Ashanti's annual report for the year ended 31 December 2008, which was distributed to shareholders on 27 March 2009 and the companys annual report on Form 20-F, filed with the Securities and Exchange Commission in the United States on May 5, 2009 as amended on May 6, 2009. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to t hese forward-looking statements to reflect events or circumstances after todays date or to reflect the occurrence of unanticipated events. All subsequent written or oral forward- looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.
AngloGold Ashanti posts information that is important to investors on the main page of its website at www.anglgoldashanti.com and under the Investors tab on the main page. This information is updated regularly. Investors should visit this website to obtain important information about AngloGold Ashanti. | |
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