Barrick Announces Intention to Divest Part of African Barrick Gold plc Holding

Barrick Announces Intention to Divest Part of African Barrick Gold plc Holding 
TORONTO, ONTARIO -- (Marketwired) -- 03/10/14 --  
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA,
AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH
SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. 
Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick" or the
"Seller") today announces its intention to divest part of its
shareholding held indirectly in African Barrick Gold plc ("ABG"). The
disposal will be conducted by means of a placing of ABG ordinary
shares (the "Placing Shares") to institutional investors (the
"Placing"). 
The Placing is expected to comprise approximately 41.0 million ABG
ordinary shares, representing approximately 10.0 percent of the
issued ordinary share capital of ABG and approximately 13.5 percent
of Barrick's holding in ABG. The Placing is being conducted through
an accelerated bookbuild offering process which will be launched
immediately following this announcement. 
A further announcement will be made following completion of the
bookbuild and pricing of the Placing. 
Barrick has appointed UBS Limited, J.P. Morgan Securities plc (which
conducts its UK investment banking business under the name J.P.
Morgan Cazenove) and RBC Europe Limited to act as joint bookrunners
and placing agents in relation to the Placing (the "Joint
Bookrunners").  
The Placing Shares shall, in all respects, rank pari passu with ABG's
ordinary shares. 
Following completion of the Placing, Barrick has undertaken not to
dispose of any further ABG ordinary shares without the consent of the
Joint Bookrunners for a period of 120 days except that consent shall
not be required (i) in the event of an offer for the entire issued
share capital of ABG in accordance with the City Code on Takeovers
and Mergers or (ii) with respect to a single sale of 10-20 percent of
Barrick's remaining shareholding in ABG to a single corporate or
strategic purchaser as part of a single transaction, provided that
such purchaser agrees to be bound by an equivalent restriction for
the remainder of the lock-up period. 
Enquiries:   
UBS Limited - Ted Larkin, Simon Lyons, Tel: +44 (0)20 7567 8000  
J.P. Morgan Cazenove - Greg Chamberlain, Ben Davies, Tel: +44 (0)20
7742 4000  
RBC Europe Limited - Jonathan Stephens, Stephen Foss, Tel: +44 (0)20
7653 4000 
Important Notice:  
This announcement is for information purposes only and shall not
constitute or form part of an offer to buy, sell, issue, acquire or
subscribe for, or the solicitation of an offer to buy, sell, issue,
acquire or subscribe for, any securities, nor shall there be any sale
of securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful.  
In particular, the securities referred to herein have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "Securities Act") and may not be offered, sold
or transferred, directly or indirectly, within the United States
except pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act and the
securities laws of any state or other jurisdiction of the United
States. No public offering of the securities referred to herein is
being made in the United Kingdom, the United States, Australia,
Canada, Japan, South Africa or any other jurisdiction.  
The distribution of this announcement and the Placing of the Placing
Shares as set out in this announcement in certain jurisdictions may
be restricted by law. No action has been taken that would permit an
offering of such shares or possession or distribution of this
announcement or any other offering or publicity material relating to
such shares in any jurisdiction where action for that purpose is
required. Persons into whose possession this announcement comes are
required to inform themselves about, and to observe, such
restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.  
UBS Limited ("UBS"), J.P. Morgan Securities plc (which conducts its
UK investment banking activities as J.P. Morgan Cazenove) ("JPMC")
and RBC Europe Limited ("RBC"), each of which is authorised by the
Prudential Regulation Authority and regulated in the United Kingdom
by the Financial Conduct Authority and the Prudential Regulation
Authority, are acting for the Seller in connection with the Placing
and no-one else and they will not be responsible to anyone other than
the Seller for providing advice in relation to the Placing or any
other matter referred to in this announcement.  
This announcement has been issued by and is the sole responsibility
of the Seller. No representation or warranty, express or implied, is
or will be made as to, or in relation to, and no responsibility or
liability is or will be accepted by UBS, JPMC or RBC or by any of
their respective affiliates or agents as to, or in relation to, the
accuracy or completeness of this announcement or any other written or
oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed. 
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION 
Certain information contained or incorporated by reference in this
press release, including any information as to our strategy,
projects, plans or future financial or operating performance,
constitutes "forward-looking statements". All statements, other than
statements of historical fact, are forward-looking statements. The
words "expect", "intend", "may", "will" and similar expressions
identify forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by Barrick, 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. 
Such factors include, but are not limited to: fluctuations in the
spot and forward price of gold and copper or certain other
commodities; changes in national and local government legislation,
taxation, controls, regulations, expropriation or nationalization of
property and political or economic developments in jurisdictions in
which Barrick does or may carry on business in the future;
diminishing quantities or grades of reserves; increased costs,
delays, suspensions and technical challenges associated with the
construction of capital projects; the impact of inflation;
fluctuations in the currency markets; operating or technical
difficulties in connection with mining or development activities; the
speculative nature of mineral exploration and development, including
the risks of obtaining necessary licenses and permits; contests over
title to properties, particularly title to undeveloped properties;
risk of loss due to acts of war, terrorism, sabotage and civil
disturbances; litigation; business opportunities that may be
presented to, or pursued by, Barrick; our ability to successfully
integrate acquisitions or complete divestitures; employee relations;
availability and increased costs associated with mining inputs and
labor; and, the organization of our African gold operations and
properties under a separate listed company. In addition, there are
risks and hazards associated with the business of mineral
exploration, development and mining, including environmental hazards,
industrial accidents, unusual or unexpected formations, pressures,
cave-ins, flooding and gold bullion, copper cathode or gold/copper
concentrate losses (and the risk of inadequate insurance, or
inability to obtain insurance, to cover these risks). Many of these
uncertainties and contingencies can affect our actual results and
could cause actual results to differ materially from those expressed
or implied in any forward-looking statements made by, or on behalf
of, us. Readers are cautioned that forward-looking statements are not
guarantees of future performance. All of the forward-looking
statements made in this press release are qualified by these
cautionary statements. Specific reference is made to the most recent
Form 40-F/Annual Information Form on file with the SEC and Canadian
provincial securities regulatory authorities for a discussion of some
of the factors underlying forward-looking statements. 
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.
Contacts:
INVESTOR CONTACT: Amy Schwalm
Vice President, Investor Relations
(416) 307-7422
aschwalm@barrick.com 
MEDIA CONTACT: Andy Lloyd
Vice President, Communications
(416) 307-7414
alloyd@barrick.com
 
 
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