Central Rand Gold Limited Subscription (6022Q)
June 19 2015 - 3:00AM
UK Regulatory
TIDMCRND
RNS Number : 6022Q
Central Rand Gold Limited
19 June 2015
Central Rand Gold Limited
(Incorporated as a company with limited liability under the laws
of Guernsey, Company Number 45108)
(Incorporated as an external company with limited liability
under the laws of South Africa, Registration number
2007/0192231/10)
ISIN: GG00B92NXM24
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or the "Company")
SUBSCRIPTION TO RAISE GBP200,000
Central Rand Gold is pleased to announce that it is undertaken a
subscription to raise GBP0.20 million through the subscription of
2,000,000 new ordinary shares ("Subscription Shares") at a price of
10 pence per ordinary share (the "Subscription").
The proceeds of the Subscription will be used primarily to
strengthen the Company's balance sheet and provide working capital
in order to undertake continued surface mining operations, together
with the programmed plant upgrades and efficiency processes
improvements. The upgrades and improved efficiencies are intended
to improve plant availability and recovery rates. The proceeds will
also be used to repay trade creditor balances relating to the
closure of the Company's underground mining operations and complete
the disposal of Central Rand Gold (Netherlands Antilles) N.V., as
previously announced.
Application has been made for the 2,000,000 Subscription Shares
to be admitted to trading on AIM and on AltX ("Admission"). It is
expected that Admission will become effective on AIM at 8.00 a.m.
(UK time) on 24 June 2015 and thereafter on AltX. The Subscription
Shares will, when issued and fully paid, rank pari passu with the
existing ordinary shares, including the right to receive all
dividends and other distributions declared, made or paid after the
date of Admission.
Following Admission of the Subscription Shares, the total issued
share capital of the Company will increase to 95,195,808 ordinary
shares. The Company does not hold any shares in treasury and
therefore the total number of voting rights is 95,195,808 ordinary
shares. This figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a charge to their interest
in, the Company under the Financial Conduct Authority's Disclosure
and Transparency Rules.
For further information, please contact:
Central Rand Gold +27 (0) 87 310 4400
Johan du Toit / Nathan Taylor
Charles Stanley Securities - Nominated Adviser +44 (0) 20 7149
6000
Marc Milmo / Mark Taylor
Merchantec Capital - JSE Sponsor +27 (0) 11 325 6363
Marcel Goncalves / Monique Martinez
Jenni Newman Public Relations Proprietary Limited +27 (0) 11 506
735
Jenni Newman
Johannesburg
19 June 2015
This information is provided by RNS
The company news service from the London Stock Exchange
END
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