Key Developments: Central GoldTrust (GTU)
42.14USD
9 Feb 2010
$0.62 (+1.49%)
$41.52
$41.90
$42.23
$41.60
34,112
66,407
$50.10
$35.00
Latest Key Developments
Central Gold-Trust Closes $200,194,500 Unit Issue
Central Gold-Trust announced that it has completed the sale of 5,515,000 Units of Central GoldTrust at a price of $36.30 per Unit to CIBC (Underwriter), raising total gross proceeds of $200,194,500 The Units offered were primarily sold to investors in Canada and in the United States under the Multijurisdictional Disclosure System. The issue price of $36.30 per Unit was non-dilutive and accretive for the existing Unitholders of Central GoldTrust. Substantially all of the net proceeds of the offering have been invested in gold bullion, in keeping with the asset allocation provisions outlined in Central GoldTrust's Declaration of Trust and the related policies established by its Board of Trustees. The additional capital raised by the offering is expected to assist in reducing the annual expense ratio in favour of the Unitholders of Central GoldTrust.
Central Gold-Trust Increases Equity Offering to USD 200,194,500
Central Gold-Trust announced that CIBC has exercised its right to purchase an additional 690,000 Units at a price of USD 36.30 per Unit, for additional gross proceeds of USD 25,047,000 to Central GoldTrust. CIBC agreed earlier this morning to purchase 4,825,000 Units for gross proceeds of USD 175,147,500. The purchase price of USD 36.30 per Unit was non-dilutive and accretive for the existing Unitholders of Central GoldTrust. The additional net proceeds have been committed to purchase gold bullion for settlement at closing, in keeping with the asset allocation provisions outlined in Central GoldTrust's Declaration of Trust and the related policies established by its Board of Trustees. Any additional capital raised by the offering is expected to assist in reducing the annual expense ratio in favour of the Unitholders of Central GoldTrust.
Central Gold-Trust Enters Into USD175 Million Underwriting Agreement
Central Gold-Trust announced that it has entered into an underwriting agreement with CIBC, as underwriter, under which the underwriter has agreed to buy and sell to the public in Canada (except Quebec) and the United States under the multijurisdictional disclosure system, 4,825,000 Units of Central GoldTrust. The Underwriter has been granted the right to increase the size of the offering (the Right) by up to an additional 690,000 Units, exercisable in whole or in part, at any point prior to 4:00 p.m. (EST) on May 6, 2009. The offering will be made under a second prospectus supplement to Central GoldTrust's USD250,000,000 base shelf prospectus dated December 19, 2008. The purchase price of USD36.30 per Unit is expected to result in gross proceeds of USD175,147,500, prior to the exercise of the Right. Substantially all the net proceeds of the offering have been committed to purchase gold bullion for settlement at closing, in keeping with the asset allocation provisions outlined in Central GoldTrust's Declaration of Trust and the related policies established by its Board of Trustees. Any additional capital raised by the offering is expected to assist in reducing the annual expense ratio in favour of the Unitholders of Central GoldTrust. Closing is expected to occur on or about May 12, 2009.
Central Gold-Trust Announces Proposed Offering
Central Gold-Trust announced that it plans to offer Units of Central GoldTrust to the public in Canada (except Quebec) and the United States under its existing $250,000,000 base shelf prospectus dated December 19, 2008 and filed with the securities commissions in each of the provinces and territories of Canada, except Quebec, and under the multijurisdictional disclosure system in the United States pursuant to a proposed underwritten offering by CIBC. Central GoldTrust will only proceed with the offering if it is non-dilutive to the net asset value of the Units owned by the existing Unitholders of Central GoldTrust. The remaining amount of approximately $212 million of the original $250 million provided for in the base shelf prospectus is available for this offering.
Central Gold-Trust Announces Name Change-Stock Exchange
The Stock Exchange reported that Central Gold-Trust has changed its name to Central GoldTrust.
Central Gold-Trust Closes $38,008,005 Unit Issue
Central Gold-Trust announced that it has completed the sale of 1,123,500 Units of Central GoldTrust at a price of $33.83 to CIBC World Markets Inc. (the Underwriter), raising total gross proceeds of U$38,008,005. The Units offered were primarily sold to investors in Canada and in the United States under the multijurisdictional disclosure system. The underwritten price of $33.83 per Unit was non-dilutive and accretive for the existing Unitholders of Central GoldTrust. Substantially all of the net proceeds of the offering have been invested in gold bullion, in keeping with the asset allocation provisions outlined in Central GoldTrust's Declaration of Trust and the related policies established by its Board of Trustees. The additional capital raised by the offering is expected to assist in reducing the annual expense ratio in favour of the Unitholders of Central GoldTrust.
Central Gold-Trust Increases Equity Offering To U.S.$38,008,005 As Underwriter Exercises Right To Purchase Additional Units
Central Gold-Trust announced that CIBC World Markets Inc. has exercised its right to purchase an additional 148,000 Units at a price of $33.83 per Unit, for additional gross proceeds of $5,006,840 to Central GoldTrust. CIBC World Markets Inc. agreed earlier this morning to underwrite 975,500 Units for gross proceeds of $33,001,165. The underwritten price of $33.83 per Unit was non dilutive and accretive for the existing Unitholders of Central GoldTrust. The additional net proceeds have been committed to purchase gold bullion for settlement at closing, in keeping with the asset allocation provisions outlined in Central GoldTrust's Declaration of Trust and the related policies established by its Board of Trustees. The additional capital raised by this underwriting is expected to reduce the annual expense ratio in favour of the Unitholders of Central GoldTrust.
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