Barrick Executive Chairman Increases Shareholding in Company to Five Million Shares
01 Oktober 2018 - 4:37PM
All amounts expressed in U.S. dollars unless
otherwise indicated
Barrick Gold Corporation (NYSE:ABX) (TSX:ABX) (“Barrick” or the
“Company”) today announced that Executive Chairman John L. Thornton
has purchased 2,271,029 additional common shares in the Company at
an average price of $11.11 per share, nearly doubling his total
shareholding in Barrick to 5,000,000 shares.1
Based on the exchange ratio of 6.128 Barrick
shares for each share of Randgold Resources Limited (“Randgold”)
under the recommended all-share merger between the two companies,
the Randgold ordinary shares held by Mark Bristow are expected to
convert into 5,141,600 Barrick shares following the completion of
the merger, after which Mr. Bristow will become Barrick’s President
and Chief Executive Officer.
Ownership is a core element of Barrick’s
partnership culture. Under the Global Barrick Share Plan launched
in 2016, all Barrick people receive common shares on an annual
basis, tied to Company performance. These shares must be held until
an individual retires or leaves the Company. Barrick also matches
share purchases by those who work at the Company, up to $4,000 per
year.
INVESTOR CONTACTDeni
NicoskiSenior Vice PresidentInvestor RelationsTelephone:
+1 416 307-7474Email: dnicoski@barrick.com
MEDIA CONTACTAndy Lloyd Senior
Vice PresidentCommunicationsTelephone: +1 416 307-7414Email:
alloyd@barrick.com
1 Mr. Thornton owns 3,985,219 Common Shares
directly and 59,970 Common Shares indirectly through a Rollover IRA
and 500,000 Common Shares indirectly through a Grantor Retained
Annuity Trust. Mr. Thornton also exercises control or direction
over 240,600 Common Shares held in the names of his wife and
children. In addition, 214,211 Common Shares are held in family
trusts for the benefit of Mr. Thornton’s children and for which his
wife is the trustee. Mr. Thornton does not have beneficial interest
in or control over these Common Shares held in trust.
CAUTIONARY STATEMENT ON FORWARD-LOOKING
INFORMATION
Certain information contained in this press
release constitutes “forward-looking statements”. All statements,
other than statements of historical fact, are forward-looking
statements. In particular, this press release contains
forward-looking statements with respect to (i) completion of the
recommended all-share merger between Barrick and Randgold, (ii) the
number of Barrick shares into which Mark Bristow’s Randgold
ordinary shares are expected to convert following completion of the
merger, (iii) Mark Bristow becoming Barrick’s President and Chief
Executive Officer following the merger and (iv) issuances of common
shares under the Global Barrick Share Plan.
Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable by Barrick in light of management’s experience and
perception of current conditions and expected developments, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements and undue reliance
should not be placed on such statements and information.
Barrick disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by applicable law.
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