AngloGold Ashanti, Golden Cycle merger closes

By Lisa Kerner

Charlotte, N.C., July 1 - Golden Cycle Gold Corp. shareholders approved the merger of the company with a wholly owned subsidiary of AngloGold Ashanti Ltd. at a special meeting on Monday.

According to an AngloGold news release, the merger became effective Tuesday.

"We are pleased that shareholders representing approximately 71.85% of our common stock have expressed their confidence in AngloGold Ashanti by approving the merger," Golden Cycle chief executive officer R. Herbert Hampton said in the release.

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' amended merger agreement increased the number of AngloGold American Depositary Shares received per share of Golden Cycle common stock to 0.3123 from 0.29, it was previously reported.

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

AngloGold is a gold producer based in Johannesburg.

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