AMN - M&A: Barrick shareholders approve merger

Barrick Gold Corporation’s shareholders have voted to approve the issuance of Barrick common shares in connection with the merger of Barrick and Randgold Resources Limited. This arrangement includes the continuance of Barrick to the Province of British Columbia under the Business Corporations Act (British Columbia).

The issuance of Barrick common shares in connection with the merger, and the continuance, were each approved by more than 99 per cent of the votes cast at this week’s special meeting of shareholders.

Barrick executive chairman John L Thornton said, “Today marks an important step in our journey of taking Barrick 'back to the future'. The combination of Barrick and Randgold will create the compelling gold investment.”

The merger is expected to be completed on January 1, 2019, subject to approval by Randgold shareholders, approval by the Royal Court of Jersey, which is being sought at a hearing scheduled for December 17, 2018, and other customary closing conditions.

The vote follows the receipt of unconditional clearance for the share-for-share merger from the South African Competition Tribunal.

Barrick’s Board of Directors unanimously reaffirms its view that the merger, and the continuance of Barrick to British Columbia, are in the best interests of Barrick.

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