Gold Road (ASX: GOR)
Will cease trading on the ASX on Friday 26th September 2025, as it is being acquired by Gold Fields, its JV partner at the Gruyere gold mine in Western Australia by way of a scheme of arrangement.
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Gold Road – Gruyere JV Gold Mine at night – Courtesy of Gold Road Resources
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GOLD ROAD – DETERMINATION TO PAY SPECIAL DIVIDEND AND UPDATE TO SCHEME TIMETABLE
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Gold Road Resources Limited (ASX: GOR) (Gold Road or the Company) provides the following update in relation to the proposed acquisition by Gruyere Holdings Pty Ltd (GHPL), an entity ultimately owned by Gold Fields Limited (Gold Fields), of 100% of the shares in Gold Road, by way of a scheme of arrangement (Scheme).
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Determination of Special Dividend and Suspension of DRP
Gold Road is pleased to announce that the Gold Road Board has today determined to pay, conditional on the Scheme becoming effective, a fully franked special dividend of $0.43694 per Gold Road share (Special Dividend).
It is expected that the record date for the Special Dividend will be 7.00pm (AEST) Tuesday, 30 September 2025 and payment of the Special Dividend will occur
on Tuesday, 7 October 2025 (if the Scheme becomes effective).
Gold Road shareholders should note that the Special Dividend will be paid in the same manner as the cash consideration under the Scheme, with the amount of the Special Dividend reducing the amount of the fixed cash consideration payable under the Scheme as further described in the scheme booklet dated 15 August 2025 (Scheme Booklet).
The Special Dividend is expected to enable eligible Gold Road shareholders to benefit from franking credits of up to $0.1873 per Gold Road share. However, the benefit provided to Gold Road shareholders via the payment of the Special Dividend (with a corresponding reduction in the fixed cash consideration to be provided under the Scheme) may depend on shareholders’ individual tax circumstances and the receipt of a favourable class ruling from the Australian Tax Office (which is only expected to be received after implementation of the Scheme).
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The indicative timetable for implementation of the Scheme has been updated, with the revised implementation timetable set out below.
An amount of $300 million has been drawn down under Gold Road’s existing bank debt facilities to fund the payment of the Special Dividend (or a portion thereof).
2 Refer to section 8 of the Scheme Booklet for further details regarding the tax implications of the Scheme.
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Event Date
Scheme Meeting 2.00pm (AWST) Monday, 22 September 2025
Second Court Hearing – for approval of the Scheme 2.15pm (AWST)
Thursday, 25 September 2025
Effective Date of the Scheme – date on which the Scheme becomes effective and
is binding on Gold Road shareholders Date on which the Variable Cash Consideration will be calculated Friday, 26 September 2025
Last trading day of Gold Road shares on ASX Friday, 26 September 2025
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To read the full news release please click HERE
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds no shares in Gold Road.
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