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BRIEF-Randgold Intends To Recommend Barrick Deal to Its Shareholders

Published 2018-09-24, 02:18 a/m
© Reuters.  BRIEF-Randgold Intends To Recommend Barrick Deal to Its Shareholders
RRS
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Sept 24 (Reuters) - Randgold Resources Ltd RRS.L :

* RECOMMENDED MERGER OF BARRICK AND RANDGOLD

* RANDGOLD PERMITTED DIVIDEND IS EXPECTED TO BE DECLARED ON OR BEFORE EFFECTIVE DATE

* RANDGOLD SHAREHOLDERS ENTITLED TO RECEIVE RANDGOLD DIVIDEND FOR 2018 FINANCIAL YEAR OF $2 PER RANDGOLD SHARE

* NEW BARRICK GROUP WILL HAVE AN AGGREGATE MARKET CAPITALIZATION OF USD 18.3 BILLION

* RANDGOLD BOARD CONSIDERS TERMS OF MERGER TO BE FAIR AND REASONABLE

* RANDGOLD INTENDS TO RECOMMEND TO ITS SHAREHOLDERS TO VOTE IN FAVOUR OF SCHEME AT JERSEY COURT MEETING, RESOLUTIONS TO BE PROPOSED AT EGM

* BARRICK DOES NOT ANTICIPATE HEADCOUNT REDUCTION IN RANDGOLD'S WORKFORCE AT OPERATIONAL,MANAGEMENT LEVEL AS A RESULT OF MERGER

* NEW BARRICK GROUP WILL OPERATE UNDER BRANDING OF BARRICK GROUP

* SHARES IN NEW BARRICK GROUP ISSUED TO RANDGOLD SHAREHOLDERS WILL BE ADMITTED TO TRADE ON NYSE AND TORONTO STOCK EXCHANGE

* BARRICK AGREED TO PAY TO RANDGOLD BREAK FEE PAYMENT IN AMOUNT OF $300 MILLION IN CERTAIN CIRCUMSTANCES

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