Recommended All-Share Merger of Barrick Gold Corporation and Randgold Resources Limited

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Recommended All-Share Merger of Barrick Gold Corporation and Randgold Resources Limited

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Jersey, Channel Islands (FSCwire) - The Boards of Barrick Gold Corporation (“Barrick”) and Randgold Resources Limited (“Randgold”) are pleased to announce that they have reached agreement on the terms of a recommended share-for-share merger of Barrick and Randgold (the “Merger”) to create an industry-leading gold company.  It is intended that the Merger will be implemented by means of a court-sanctioned scheme of arrangement of Randgold and the Randgold Shareholders under Article 125 of the Companies (Jersey) Law 1991, with the entire issued and to be issued share capital of Randgold being acquired by Barrick.

 

Under the terms of the Merger, each Randgold Shareholder will receive:

 

6.1280 New Barrick Shares for each Randgold Share

 

This exchange ratio (the “Exchange Ratio”) has been agreed based on the volume-weighted average prices of Barrick Shares traded on NYSE, and Randgold ADSs traded on NASDAQ, respectively, over the 20 trading days ended on 21 September 2018 (being the last business day before this announcement).

 

Following completion of the Merger, Barrick Shareholders will own approximately 66.6 per cent.  and Randgold Shareholders will own approximately 33.4 per cent.  of the New Barrick Group on a fully-diluted basis. 

 

Click on, or paste the following link into your web browser, to view the associated PDF document.

 

http://www.rns-pdf.londonstockexchange.com/rns/6665B_1-2018-9-24.pdf

 

Enquiries

Barrick

 

 

Deni Nicoski
Senior Vice President
Investor Relations
Telephone: +1 416 307-7474
Email: [email protected]

Andy Lloyd 
Senior Vice President
Communications
Telephone: +1 416 307-7414
Email: [email protected]

 

Carole Cable

Partner

Brunswick Group LLP

Tel      +44 (0)20 7404 5959 

Direct +44 (0)20 7396 7458

Mob   +44 (0)7974 982 458

[email protected]

M.  Klein and Co.  (financial adviser to Barrick)

David Friedman

+1-212-380-7500

 

 

Peter Seibold

 

 

Cyrus Hiramanek

 

 

Morgan Stanley (financial adviser to Barrick)

Colm Donlon

+44 207 425 8000

 

Richard Tory

+1 416 943 8400

 

Jan Lennertz

+1 212 761 4000

 

Randgold

 

 

Chief Executive Officer
Mark Bristow

 

Finance Director and Chief Financial Officer
Graham Shuttleworth

 

Investor & Media Relations
Kathy du Plessis

+44 20 7557 7738

[email protected]

CIBC (financial adviser to Randgold)

Neil Johnson

+44 20 7234 6000

 

Oliver Ward

 

 

Barclays (financial adviser and corporate broker to Randgold)

 

Paul Knight

+1 (416) 863 8900

 

Nishant Amin

+44 (0) 20 7623 2323

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

END







Source: Randgold Resources Limited (LSE:RRS, NASDAQ:GOLD, OTC Pink:RGORF, FWB:RGR1)

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