Golden Cycle shareholders to vote June 30 on amended merger agreement with AngloGold Ashanti

By Lisa Kerner

Charlotte, N.C., May 29 - Golden Cycle Gold Corp. said its shareholders will vote on the company's amended merger agreement with AngloGold Ashanti Ltd. at a special meeting on June 30 at noon ET.

In January, it was reported that Golden Cycle agreed to be acquired by AngloGold for some $149 million, or about $14.38 per share.

The companies said the amended merger increases the number of AngloGold American Depositary Shares received per share of Golden Cycle common stock to 0.3123 from 0.29.

A cashless exercise for the options to purchase Golden Cycle common stock replaces the conversion of options to acquire Golden Cycle shares with options to acquire AngloGold ADSs, a Golden Cycle news release stated.

In addition, the unpaid costs and expenses to Golden Cycle as a condition to the merger's close are increased to $275,000 from $200,000.

Golden Cycle is a Colorado Springs, Colo., mining company.

AngloGold is a gold producer based in Johannesburg, South Africa.

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