Ashanti Secures Extension to Date for Completion of Geita Sale.Business Editors ACCRA Accra (əkrä`, ăk`rə), city (1984 pop. 867,459), capital of Ghana, a port on the Gulf of Guinea. It is Ghana's largest city and its administrative, communications, and economic center. , Ghana--(BUSINESS WIRE)--Sept. 14, 2000 Ashanti Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Company Limited ("Ashanti" or the "Company") announces that it has secured the consent of its banks for an extension of both the US$100 million Bridge Facility and the date for completion of the sale of a 50% interest in its Geita gold mine in Tanzania to AngloGold Limited ("AngloGold") until 31 October, 2000. The extension provides further time for the Company and its banks to seek to finalise Verb 1. finalise - make final; put the last touches on; put into final form; "let's finalize the proposal" finalize, nail down, settle terminate, end - bring to an end or halt; "She ended their friendship when she found out that he had once been convicted of revisions to Ashanti's financing arrangements in connection with the Geita transaction, which have taken longer to negotiate than was initially anticipated owing, inter alia [Latin, Among other things.] A phrase used in Pleading to designate that a particular statute set out therein is only a part of the statute that is relevant to the facts of the lawsuit and not the entire statute. , to inter-creditor issues. The Company has notified AngloGold that it currently wishes to extend the deadline for satisfaction of the conditions of the transaction until 31 October, 2000. The circular to Shareholders seeking approval of the Geita transaction is expected to be issued once the financing arrangements with the banks have been agreed and documented and the requisite formal consents to the transaction have been obtained from the banks. The Company is continuing to work with its advisers and its banks to close the transaction as expeditiously ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex as possible. Certain of the statements made in this announcement are forward-looking in nature. By their nature, forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. These factors include, but are not limited to, statements made elsewhere in this announcement. In addition, risk factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Ashanti can be found in its public SEC filings. Ashanti undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise. Any statements should be evaluated in light of these factors. A copy of this release is available at http://www.ashantigold.com/releases.htm |
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