Fly News Breaks for October 18, 2019
Oct 18, 2019 | 05:11 EDT
Goldman Sachs analyst Eugene King upgraded AngloGold Ashanti (AU) to Buy from Neutral with a price target of 370 rand. The analyst sees tailwinds for the company from the gold strength and rand weakness. King prefers the stock to shares of Gold Fields (GFI).
News For AU;GFI From the Last 2 Days
Jan 18, 2022 | 07:09 EST
AngloGold Ashanti (AU) and Corvus Gold Inc. (KOR) are pleased to announce the successful completion of the previously announced plan of arrangement under the Business Corporations Act between Corvus, 1323606 B.C. Unlimited Liability Company and AngloGold Ashanti Holdings. The Purchaser is an indirect wholly owned subsidiary of AngloGold Ashanti and the Guarantor is a direct wholly owned subsidiary of AngloGold Ashanti. Pursuant to the arrangement agreement, dated as of September 13, 2021, by and among Corvus, the Purchaser and the Guarantor, the Purchaser, among other things, acquired the remaining 80.5% of the outstanding common shares of Corvus not already owned by AngloGold Ashanti and its affiliates. As previously announced, the Arrangement was overwhelmingly approved by Corvus shareholders and optionholders at a special meeting held on January 6, 2022. On January 11, 2022, the Company obtained the final order from the Supreme Court of British Columbia approving the Arrangement. Under the terms of the Arrangement, shareholders of Corvus will receive C$4.10 in cash per Corvus Share. As previously announced, AngloGold Ashanti intends to cause the amalgamated entity to delist its shares from the Toronto Stock Exchange and has submitted applications to the relevant securities regulatory authorities in Canada to cease to be a reporting issuer. In connection with the closing of the Arrangement, in coordination with the Nasdaq Capital Market , a Form 25 relating to the delisting of the amalgamated entity's shares will be filed with the U.S. Securities and Exchange Commission on January 18, 2022 and trading in the amalgamated entity's shares will be suspended on the NASDAQ on January 18, 2022. The amalgamated entity expects the delisting of its shares to become effective 10 days following the filing, or January 28, 2022. The anticipated effective date may be delayed if the SEC postpones the effectiveness of the application to delist for other reasons. Concurrent with the delisting from Nasdaq, the amalgamated entity intends to file a Form 15 with the SEC to terminate the registration of its shares under the U.S. Securities Exchange Act of 1934, as amended and to suspend its reporting obligations with the SEC under the Exchange Act. The amalgamated entity expects that its obligation to file reports with the SEC will be suspended immediately upon the filing of the Form 15. The amalgamated entity reserves the right to delay the filing of the Form 25 or Form 15 or withdraw either form for any reason prior to its effectiveness.