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Vantage Goldfields Limited Corporate Group Structure
Vantage Goldfields Limited is the parent of a group of South African-registered subsidiary companies engaged in the mining and exploration of gold (“the Group”). The Company completed its IPO and was successfully listed on the ASX in May 2010. The Group structure is illustrated below:
Vantage’s two major shareholders, Asian Investment Management Services (“AIMS”) and Platinum Asset Management (“Platinum”) jointly hold some 53% of the shares in the Company. The largest groupings of shareholders are in Australia (50%) and Europe, including the UK (19%). As at 1November 2013, there were 247,314,532 million shares in issue.
Legislation in South Africa requires historically disadvantaged South Africans (“HDSAs”) to own interests in South African Mineral Rights, through a regime known as Black Economic Empowerment. Under this legislation, HDSA’s were required to hold at least a 15% ownership interest in South African Mineral Rights by 30 April 2009 and a 26% ownership interest by 30 April 2014. To meet these requirements Vantage partnered with Lomshiyo Investments (Pty) Limited (“Lomshiyo”) in February 2006, a company which includes the local community and Vantage’s workforce as shareholders. Currently, Lomshiyo has a 26% indirect ownership interest in the Barbrook and Worcester Projects and a 15% indirect ownership interest in the Lily Project (See BEE & Mining Legislation).