Ashanti Goldfields Company Limited Makes Announcement.NEW YORK--(BUSINESS WIRE)--June 24, 1999-- Ashanti Goldfields Company Limited has become aware that an entity calling itself "Bezira Gold Limited" in the United States of America UNITED STATES OF AMERICA. The name of this country. The United States, now thirty-one in number, are Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, , has circulated an offer to purchase up to 1.0 per cent of the outstanding ordinary shares of the company at a price of US$5.25 per share. Ashanti strongly recommends that shareholders NOT tender their shares into this offer. Ashanti's shares currently trade actively on the Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. , Ghana Stock Exchange The Ghana Stock Exchange (GSE) is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently has around 30 listed companies and 2 corporate bonds. All types of securities can be listed. , the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. , New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the Zimbabwe Stock Exchange The Zimbabwe Stock Exchange, or ZSE, is a small but active stock exchange in Africa. It has been open to foreign investment since 1993. It has about a dozen members and over 65 listed securities. . The price offered by Bezira Gold Limited is substantially less than the current price for Ashanti shares and does not represent a fair value offer. Ashanti has no knowledge of Bezira Gold Limited and has had no communications with any person purporting to represent Bezira Gold Limited. The offer appears to follow a pattern recently observed in relation to various other companies. In each case, the companies appear to be targeted by bids for a relatively low volume of shares at a price substantially below the published market price for such shares on recognised stock exchanges. Investors requiring further information regarding current and recent price ranges and trading volumes for Ashanti's shares should contact their respective investment advisors or the contact details below. Ashanti Goldfields Company Limited is an international gold mining company with operations and exploration activities across the sub-Saharan Africa and currently produces in excess of 1.5 million ounces of gold annually from 6 operating mines. Ashanti also has an ongoing project, at Geita, Tanzania, which is expected to produce 400,000 ounces of gold per annum, with first gold production anticipated to be by end of 2000. Ashanti currently has a strong hedge book which makes it well placed in the near and medium terms to resist the recent down-turn in the gold price. |
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