Return to News Categories

Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Copper Update - Completion of Acquisition of Additional interest in SolGold

LONDON, Dec. 2, 2019 (Canada NewsWire via COMTEX) --

BHP has today completed its acquisition of an additional 77,000,000 ordinary shares (Ordinary Shares) in SolGold plc (SolGold), as well as 19,250,000 options to acquire Ordinary Shares (Options) with an exercise price of 37 pence, pursuant to the share subscription agreement with SolGold (Subscription Agreement) entered into on 25 November 2019 (the Subscription).

BHP paid 22.15 pence per SolGold share (C$0.38 per share, based on the daily average exchange rate published by the Bank of Canada on 29 November 2019). The Options were included in the Subscription for no additional consideration.

Total consideration paid for the additional Ordinary Shares and Options was £17,055,500 (C$29,287,705, based on the daily average exchange rate published by the Bank of Canada on 29 November 2019).

Following completion of the private placement by SolGold, BHP has increased its interest in SolGold from 205,721,826 Ordinary Shares (representing 11.1% of the issued and outstanding Ordinary Shares prior to the Subscription) to 282,721,826 Ordinary Shares (representing approximately 14.7% of the issued and outstanding Ordinary Shares following the Subscription). Assuming the exercise of the Options, BHP would hold 301,971,826 Ordinary Shares (representing 15.5% of the issued and outstanding Ordinary Shares following the Subscription, on a partially diluted basis).

The Ordinary Shares were acquired for investment purposes and BHP currently has no other plans or intentions that relate to its investment in SolGold. However, depending on market and economic conditions, the business and prospects of SolGold and/or other relevant factors, BHP may in the future develop such plans or intentions and at such time BHP may, from time to time, increase or decrease its investment in SolGold through the exercise of the acquired Options, market transactions, private agreements, treasury issuances or otherwise, or hold discussions with or make formal proposals to management or the board of directors of SolGold, other shareholders of SolGold or other third parties regarding such matters.

A copy of the early warning report filed in connection with this press release will be available on SolGold's profile on SEDAR at or may be obtained by contacting Rachel Agnew at or +61 3 9609 3333.

SolGold is registered in England and Wales and is listed on the London Stock Exchange and the Toronto Stock Exchange. SolGold's head office is located at Level 27, 111 Eagle Street, Brisbane, Queensland, 4000.

Further information on BHP can be found at


View original content:


BHP Group Limited ABN 49 004 028 077, LEI WZE1WSENV6JSZFK0JC28, Registered in
Australia, Registered Office: Level 18, 171 Collins Street, Melbourne Victoria 3000
Australia, Tel +61 1300 55 4757, Fax +61 3 9609 3015; BHP Group Plc Registration
number 3196209, LEI 549300C116EOWV835768, Registered in England and Wales, Registered
Office: Nova South, 160 Victoria Street, London SW1E 5LB United Kingdom, Tel +44 20
7802 4000, Fax +44 20 7802 4111

Copyright (C) 2019 CNW Group. All rights reserved.

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Extreme Futures: Movers & Shakers




Today's Hottest Futures
Market Last Vol % Chg