16 October 2018

  

Following on from today�s earlier market release, the Board of DGR Global Limited (DGR, the Company) would like to provide further details in relation to BHP Billiton Holdings Limited�s agreement to further invest in LSE-TSX-listed SolGold Plc, in which DGR currently holds a 12% interest.

SolGold has now made its own market release in Toronto, noting the following details:

�  BHP Billiton Holdings Limited (BHP) to subscribe for 100 million shares at 45p to raise �45m (USD $59.2 million).

�  BHP to have anti-dilution rights for a period of two years in respect of all capital issues to maintain a 10% interest in SolGold provided BHP does not drop below a 10% shareholding level in SolGold.

�  BHP to have a right to appoint a Director to the SolGold Board provided BHP does not drop below a 10% shareholding level in SolGold.

�  BHP will, for a period of two years, support the recommendations of the Board of Directors in respect of SolGold Board composition.

�  BHP will, for a period of two years, support the recommendations of the SolGold Board in respect of any shareholder approvals required in connection with any change of control transaction involving the Cascabel Project or SolGold, provided it is supported by an Independent Expert appointed by the SolGold Board and 60% of SolGold shareholders (disregarding BHP�s shares) accept or approve the transaction.

�  BHP agrees to a standstill in respect of SolGold under certain circumstances for a period of two years and, subject to certain exceptions, cannot acquire further shares in SolGold above a threshold of 246,634,271 shares, without SolGold consent.

�  BHP agrees, for a period of two years (subject to certain exemptions), not to discuss any change of control transaction of SolGold with third parties without SolGold consent.

�  BHP agrees, for a period of two years, to provide SolGold, in certain circumstances with a right of first offer in the event that BHP wishes to dispose of its acquired shares.

The pricing agreed with BHP represents an approximate 30% premium to the last 20 days volume weighted average price (VWAP) and a 27.8% premium to the closing price for SolGold on LSE on Monday 15 October 2018.

Commenting on the Agreement with BHP, SolGold (and DGR) CEO Mr Nick Mather said: "SolGold is pleased to have entered this agreement with BHP.  We believe that the Alpala project is one of the five best undeveloped copper projects in the world.  SolGold is intent on taking an aggressive path to the development of this exciting project and BHP�s investment is welcome.

The strong premium paid and the US$59.2m in funds raised means we can get on with the task of getting to feasibility. SolGold believes that the terms of BHP's investment are favourable to SolGold in the context and will allow SolGold to continue to deliver value to its shareholders."
 

Please click here to view the announcement in full.