Gold One merges with Sibanye
Gold One International Limited has entered into an agreement with Sibanye Gold Limited to merge West Rand Assets for 17% Equity Interest.
Gold One are looking to merge their and Sibanye’s 74% shareholding in and claims against Newshelf 1114 Proprietary Limited, which holds a 100% shareholding in Rand Uranium Proprietary Limited as well as 100% of Ezulwini Mining Company Proprietary Limited after an internal restructuring, which is the Cooke 4 Underground Operation.
The proposed transaction is in exchange for a 17% interest in the fully diluted share capital of Sibanye Gold through the issue of new ordinary shares.
The group of Chinese shareholders, which includes Baiyin Nonferrous Group Company Limited, the China-Africa Development Fund, Long March Capital Limited and CITIC Kingview Capital Management Company Limited hold 90% of Gold One, consider this a strategic stake in Sibanye Gold and strongly support Sibanye Gold’s business strategy and objectives.
