markets · · proactiveinvestors.com
Metals One targets full control of South African gold business in all-share deal
Metals One PLC (AIM:MET1, FRA:HT7, OTCQB:MTOPF), the critical and precious metals developer, has agreed to acquire full ownership of South African gold and power business Lions Bay Resources for £6.5 million in shares, and is bringing in the former chief executive of Harmony Gold (NYSE:HMY) as chair. In a two-stage deal, the company intends to exercise its existing option to lift its stake in LBR from 30% to 49.99%, then buy the remaining 50.01% from Lions Bay Capital (LBI) and Salamander Consulting.
Metals One PLC (AIM:MET1, FRA:HT7, OTCQB:MTOPF), the critical and precious metals developer, has agreed to acquire full ownership of South African gold and power business Lions Bay Resources for £6.5 million in shares, and is bringing in the former chief executive of Harmony Gold (NYSE:HMY) as chair. In a two-stage deal, the company intends to exercise its existing option to lift its stake in LBR from 30% to 49.99%, then buy the remaining 50.01% from Lions Bay Capital (LBI) and Salamander Consulting.
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