Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

 Information  X 
Enter a valid email address

Ashanti Goldfields (ASN)

  Print      Mail a friend

Wednesday 15 October, 2003

Ashanti Goldfields

Merger Update

Ashanti Goldfields Company Ld
14 October 2003


FOR IMMEDIATE RELEASE                                           14 October 2003


The board of Ashanti Goldfields Company Limited ('Ashanti') is pleased to
announce that it has today received an improved final merger offer ('Revised
Merger Proposal') from AngloGold Limited ('AngloGold'). Following consideration
of the terms of the Revised Merger Proposal and the terms of the merger proposal
received from Randgold Resources Limited ('Randgold') as announced on 23
September 2003, the board of Ashanti has resolved unanimously* to recommend
AngloGold's Revised Merger Proposal. In reaching its conclusion, the board of
Ashanti has considered, amongst other things, the results of the technical,
legal and financial due diligence exercise undertaken on both AngloGold and
Randgold and formed a view as to which proposal it believes is in the best
interests of Ashanti's stakeholders, including shareholders, employees and the
people of Ghana. 

Under the Revised Merger Proposal, Ashanti's shareholders will receive 29 new
AngloGold ordinary shares for every 100 Ashanti ordinary shares held. Based on
the closing market price of AngloGold ADSs on the New York Stock Exchange on 13
October 2003 (the last practicable trading day prior to this announcement), the
Revised Merger Proposal values each Ashanti share at US$10.97 and the entire
issued share capital of Ashanti at approximately US$1,431 million. On completion
of the Revised Merger Proposal and based on the current issued share capital of
each company, existing Ashanti shareholders would own approximately 14.5% of the
enlarged company's issued share capital.

The Revised Merger Proposal is conditional on the support of the Government of
Ghana as shareholder and regulator of Ashanti, the approval of the scheme of
arrangement required to implement the transaction by Ashanti shareholders and
the High Court of Ghana and certain other regulatory approvals and third party
consents as detailed in the 4 August announcement.

Other than the exchange ratio, the Revised Merger Proposal will be on the same
terms and conditions as those set out in the transaction agreement between
Ashanti and AngloGold as announced on 4 August 2003.  It is intended that the
transaction agreement will be revised accordingly as soon as practicable.

Lonmin Plc ('Lonmin'), which holds 27.6% of Ashanti's issued share capital,
entered into an undertaking with AngloGold, dated 4 August 2003, to vote in
favour of the merger. Lonmin can only withdraw its support for the merger with
AngloGold if the board of Ashanti withdraws its recommendation or if the
transaction agreement relating to AngloGold's proposal is terminated. 

In light of the Revised Merger Proposal, Lonmin has irrevocably undertaken to
AngloGold not to have any discussions with Randgold, or to accept or support any
proposal from Randgold unless such proposal includes a fully underwritten cash
alternative and the board of Ashanti determines it to be a superior proposal in
accordance with the terms of the transaction agreement with AngloGold. 

There can be no assurance that a transaction with AngloGold will be completed.
Consequently, shareholders of Ashanti are advised to exercise caution when
dealing in the relevant securities.

* Chester Crocker, Lynda Chalker and Edward Haslam, being directors of Ashanti,
have not taken part in the deliberations of the board of Ashanti relating to the
recommendation of the Revised Merger Proposal. Chester Crocker and Lynda Chalker
did not participate because they or companies in which they have an interest
have entered into commercial contracts with AngloGold, its subsidiaries or its
major shareholder, Anglo American plc. Edward Haslam did not participate because
he is an executive director of Ashanti's largest shareholder, Lonmin Plc, which
has given an undertaking to AngloGold to support the Revised Merger Proposal.


For further information contact:

Ashanti Goldfields Company Limited
Srinivasan Venkatakrishnan (Venkat)         Tel:     +233 21 778 171
Kwaku Akosah-Bempah                         Tel:     +233 21 778 173
Corinne Gaisie                              Tel:     +44 20 7256 9938

UK Investors and Media
Charles Cook                                Tel:     +44 20 7417 4170
Matthew Jervois

The Global Consulting Group
North American Contact
Allan Jordan                                Tel:     +1 646 284 9452

CIBC World Markets
Andy Quinn                                   Tel:    +44 20 7234 6000

Certain statements in this announcement are forward-looking within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended.  Although Ashanti believes that the
expectations reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have been correct. 

For a discussion of the important factors and risks involved in Ashanti's
business refer to Ashanti's filings with the U.S. Securities and Exchange
Commission (the 'Commission'), including Ashanti's amended annual report on Form
20-F/A for the year ended 31 December 2002, filed with the Commission on 17 June

Ashanti does not undertake any obligation to update publicly any forward-looking
statements discussed in this announcement, whether as a result of new
information, future events or otherwise. 

                      This information is provided by RNS
            The company news service from the London Stock Exchange