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BHP Enters Share Subscription Deal With SolGold - Quick Facts

BHP (BHP.AX,BLT.L,BBL,BHP) has entered into an agreement with SolGold Plc, under which BHP will subscribe for 77 million new SolGold shares for an aggregate subscription price of 17.06 million pounds. BHP has agreed to pay 22.15 pence per SolGold share. Following completion of the private placement, BHP's interest in SolGold would increase from 11.1 percent to 14.7 percent. BHP will become the largest shareholder by a small margin.

SolGold is the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador.

Also, BHP will also receive options over 19.25 million SolGold shares which are exercisable until 25 November 2024 at a price of 37 pence per share.

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