re: Ann: RAU enters into agreement to sell Am...
RAU will receive approximately 8 million LionGold shares (S$9.045 million less S$1mill loan / S$1.0039 per LionGold share). So,we have to wait till LG shares are appreciated. The agreement values LG sp @ S$1.0039.
‘The total consideration will be US$7.0 million (or approximately S$9.045 million at an exchange rate of US$1.00 to S$1.2935) and it will be satisfied by the payment of US$750,000, which will be off-set against an amount equal to the Loan amount due from Republic Gold to LionGold under the Loan Agreement announced on 18th May 2012and the rest of US$6.25 million to be satisfied by the allotment and issue of LionGold shares at an issue price of S$1.0039.’