AngloGold Ashanti’s scheme to acquire Centamin, which owns Egypt’s largest gold mine, Sukari, has been sanctioned by the Jersey Court.

This approval moves the recommended cash and share acquisition of Centamin's issued share capital by AngloGold Ashanti closer to completion.

The transaction remains subject to the conditions outlined in the scheme document released on 30 September 2024.

AngloGold Ashanti offered $2.5bn (R44.85bn) for the acquisition in September.

The scheme document, approved by Centamin shareholders on 28 October 2024, details the terms of the acquisition. The deal will become effective upon the court order's registration with the Registrar of Companies, expected on 22 November 2024.

The last day for trading Centamin’s shares on the London and Toronto stock exchanges will be 21 and 20 November 2024, respectively.

Following the suspension, Centamin shares will be removed from the official list and trading on both the London Stock Exchange's main market and the Toronto Stock Exchange (TSX).

Centamin has applied for the suspension of trading on the London Stock Exchange to commence at 7.30am on 22 November 2024, with the cancellation of the listing on the official list scheduled for 8.00am on 25 November 2024.

The delisting of Centamin shares from the TSX has received conditional approval and is set to occur at 4.30pm Toronto time on 25 November 2024. The timeline for these principal events remains consistent with the schedule announced by Centamin on 28 October 2024.

Earlier this month, AngloGold Ashanti announced that its proposed joint venture with Gold Fields in Ghana, which was initially announced in March, faced delays and is currently seeking the required approvals from the Government of Ghana.