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Orbis Gold Limited, Board Unanimously Recommends Increased SEMAFO Offer

Orbis Gold Limited (“Orbis Gold”) and SEMAFO Inc. (“SEMAFO”) have today jointly announced a revised takeover offer for Orbis Gold (“Revised Offer”), under which Orbis Gold shareholders will be offered A$0.713 cash per Orbis Gold share. All of the Orbis Gold directors, together representing 2.8% of Orbis Gold’s shares, have committed to accept the Revised Offer. In addition, shareholders representing in aggregate 62.2% of Orbis Gold (including major shareholder DGR Global Limited ("DGR")) have indicated to Orbis Gold an intention to accept the Revised Offer. The closing date for the Revised Offer is 20 February 2015.
SEMAFO will declare the Revised Offer unconditional as soon as practicable after it has obtained valid acceptances of more than 50.1% of Orbis Gold shares. The Revised Offer is SEMAFO's best and final offer.1 This means that, subject to no Competing Proposal emerging, SEMAFO will not increase the offer price again.
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