News Column

Sovereign Gold Company Limited - Bid for remaining Mount Adrah Gold Limited shares

July 8, 2014

ENP Newswire - 08 July 2014

Release date- 04072014 - Raffles Capital Limited (ASX: RAF) and Sovereign Gold Company Limited have entered into a Share Acquisition Agreement bringing Sovereign Gold's interest in Mount Adrah Gold Limited to 76.12%.

Sovereign Gold will make an offer for the full acquisition of Mount Adrah Gold Limited (Mount Adrah).

Sovereign Gold is offering Mount Adrah Shareholders four Sovereign Gold shares (last traded price was 4.8 cents) for each Mount Adrah share including options held by them.

Offer value is 19.2 cents per Mount Adrah share including options.

The Offer is subject to obtaining all necessary shareholder, regulatory and statutory approvals.

Consideration for the total acquisition would be the issue of up to 64.7 million Sovereign Gold shares with a cash value of $3.1 million. Sovereign Gold shareholders will be asked to approve the issue of the shares at a forthcoming general meeting.


Henry Kinstlinger

Investor Relations

Tel: +61 2 9251 7177

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Source: ENP Newswire

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