The sale to Eldorado was at a price determined using the 30 day MA of SGX share price - which according to my charts is around 5.70 ish if you want to assign a value.
The terms of the agreement between Eldorado and Gold Fields are:
- Eldorado will acquire 57,968,029 Sino Gold shares from Gold Fields. The transaction to be settled through the issuance to Gold Fields of 27,824,654 shares of Eldorado by way of a private placement. The number of Eldorado shares was determined based on an exchange ratio of 0.48 Eldorado shares for each Sino Gold share, which was calculated considering the 30-day volume weighted average price of Sino Gold and Eldorado shares.
SGX Price at posting:
$4.90 Sentiment: None Disclosure: Held
