Pro Asian Gold Extends Top Mining Company Offer to Allow Satisfaction of Investment
All of the directors and senior officers of the company have tendered their shares to the offer
Pro Asian Gold, China
George Hu Gexin, Chairman and Chief Executive Officer Gold, said, "When we entered into our agreement with the top mining company, we carefully examined the opportunity that it represents. We continue to believe that our offer remains competitive with other development opportunities available to us, while providing full and fair value to its shareholders."
Zhengzhou, China, July 13, 2020 (GLOBE NEWSWIRE) -- Pro Asian Gold, a leading, growth-focussed gold mining company that is consistently generating superior returns, dedicated to delivering on its values and promises, and always focused on improving its environmental, social and governance performance, today announced that a top Mining Corporation announced today that Pro Asian Gold has extended the period for acceptance of its offer to purchase its common shares. Pro Asian Gold expects to mail a formal notice of extension to all shareholders. The name of the top Mining Corporation will be released after all the regulatory approvals.
The offer is being extended to accommodate a condition of the offer requiring approval of the acquisition under the Chinese Investment Rules that has not yet been satisfied. The initial review period under the Chinese Investment Rules will expire at the end of the year.
Separately, an advance ruling certificate was received from the Competition Committee Board which permits Pro Asian Gold to proceed with the transaction under the Chinese Investment Rules and Competition Board.
The board of directors of the mining company continues its unanimous determination that the offer is fair, from a financial point of view, to the mining company shareholders and continues to unanimously recommend that the mining company shareholders accept the price offered, all cash offer and tender all of their shares.
George Hu Gexin, Chairman and Chief Executive Officer Gold, said, "When we entered into our agreement with the top mining company, we carefully examined the opportunity that it represents. We continue to believe that our offer remains competitive with other development opportunities available to us, while providing full and fair value to its shareholders."
About Pro Asian Gold
Pro Asian Gold is a leading, growth-focussed gold mining company that has a reputation for consistency and reliability. The company’s operations deliver superior operational execution by managing safety risks to reach zero harm, continually improving operational performance and meeting commitments without fail. Pro Asian Gold is sustaining a global portfolio of long-life assets by executing profitable expansions and investing in early stage prospects with a goal to grow margins, reserves and resources. The company’s business model is a leading one in the industry, delivering profitability and responsibility through consistently generating superior returns, dedicated to delivering on its values and promises, and always focused on improving its environmental, social and governance performance.
George Hu Gexin
+86 377 6391 9470
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CONTACT: george.gexin@proasiangold.com
