TIDMCRND
RNS Number : 2812R
Central Rand Gold Limited
07 March 2016
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")
RESULTS OF EXTRAORDINARY GENERAL MEETING
Central Rand Gold is pleased to announce that at the Company's
Extraordinary General Meeting, held earlier today, the resolution
to disapply pre-emption rights and authorise the Company to issue
shares up to a maximum aggregate nominal amount equal to
GBP207,196.44 (approximately 21.8 per cent. of the issued share
capital of the Company), pursuant to the conditional subscription
for 20,719,644 ordinary shares (the "Second Subscription Shares"),
and in addition to issue shares up to a maximum aggregate nominal
amount equal to GBP520,779.29 (being approximately 40.0 per cent.
of the issued ordinary share capital of the Company) following the
issue of the Second Subscription Shares, was duly passed without
amendment as outlined below:
RESOLUTION NO. OF VOTES %
---------------- ----------------- ----------
For 32,402,570 99.45
Against 170,951 0.52
Abstained 8,967 0.03
---------------- ----------------- ----------
First Subscription Shares
The Company announced on 5 February 2016 that it had allotted
14,279,371 ordinary shares (the "First Subscription Shares") at an
issue price of 3.5 pence per ordinary share and had raised gross
proceeds of approximately GBP0.50 million. Admission of the First
Subscription Shares became effective at 08:00 am (UK time) on 9
February 2016. The First Subscription Shares 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 issue.
Following the issue of the First Subscription Shares, the total
issued share capital of the Company increased to 109,475,179
ordinary shares.
Second Subscription Shares
Application has been for the Second Subscription Shares to be
admitted to trading on AIM and AltX ("Admission"). It is expected
that Admission will become effective and that dealings will
commence at 8.00 a.m. (UK time) on 9 March 2016 on AIM and at 9.00
a.m. (South African time) on 9 March 2016 on AltX.
Following Admission of the Second Subscription Shares, the total
issued share capital of the Company will increase to 130,194,823
ordinary shares (the "Enlarged Issued Share Capital"). The Company
does not hold any shares in treasury and therefore the total number
of voting rights will be 130,194,823 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 change to their interest in, the Company under
the Financial Conduct Authority's Disclosure and Transparency Rules
following Admission of the Second Subscription Shares anticipated
on 9 March 2016.
Following Admission of the Second Subscription Shares, the
following subscribers' notifiable holdings in the Enlarged Issued
Share Capital will be:
Name No. of Ordinary Shares % of Enlarged Issued
Share Capital
Jiabang Wang 19,704,434 15.13%
Yizhou Gu 13,959,174 10.72%
Chen Li 4,956,097 3.81%
Redstone Capital Limited
Following Admission of the Second Subscription Shares, the
Redstone Capital Limited ("Redstone") concert party will be
interested in 9.82 per cent. of the Company's Enlarged Issued Share
Capital. The holdings of the Redstone concert party following
Admission and on the assumption of the full conversion of Redstone
Loan Notes and Redstone Warrants into ordinary shares will be as
follows:
Following Second Admission Following Full Following Full
Conversion Conversion
of Redstone of Warrants
Loan Notes
No. of % No. of % No. of %
Shares Shares Shares
Redstone* 12,791,300 9.82% 66,973,736 36.32% 92,264,954 44.01%
--------------- --------------- ---------- --------------- ----------- --------------- -----------
*Nathan Taylor and Jason Hou, directors of Central Rand Gold,
are also shareholders in Redstone and therefore have a beneficial
interest in the shares held by Redstone.
For further information, please contact:
Central Rand Gold +27 (0) 87 310 4400
Allen Phillips / Nathan Taylor
Panmure Gordon & Co plc - Nominated Adviser & Broker +44
(0) 20 7886 2977
Adam James / James Greenwood
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
7 March 2016
This announcement does not constitute, or form part of the
Placing or any invitation to sell or issue, or any solicitation of
any offer to purchase or subscribe for, any shares in the Company
nor shall this announcement or any part of it, or the fact of its
distribution, form the basis of, or be relied on, in connection
with or act as any inducement to enter into any contract or
commitment whatsoever with respect to the Placing or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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