Central Rand Gold Limited Cancellation from AIM (2329W)
November 10 2017 - 11:47AM
UK Regulatory
TIDMCRND
RNS Number : 2329W
Central Rand Gold Limited
10 November 2017
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 2007/019223/10)
ISIN: GG00B92NXM24
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or "the Company")
Cancellation from AIM
Trading in the Company's shares was suspended on 11 May 2017
pending clarification of the Company's financial position. Pursuant
to AIM Rule 41, the Exchange will cancel admission of a Company's
securities where trading in them has been suspended for more than
six months.
In the period since suspension, the Company has restructured its
board of directors, secured several offers of finance,
conditionally raised GBP750,000, replaced its nominated adviser
and, subject to a number of conditions (including shareholder
approval), had secured an agreement to sell its operational assets
to a consortium of its lenders in exchange for a debt restructuring
which the Board believed would be in the best interest of
shareholders as a whole.
However, as the Company's shares remain suspended from trading
on AIM, listing of the shares on AIM will be cancelled with effect
from 7:00am (UK time) on Monday, 13 November 2017 ("Cancellation").
As a result of Cancellation, the conditional placing of shares, as
announced on 19 October 2017, will not now proceed. The Board will
continue to explore refinancing options which could include a
pre-emptive offer to shareholders.
For the time being, the Company will retain its JSE listing,
however, in light of its current financial condition and the costs
associated with maintaining its listing on the JSE, the Board will
be immediately evaluating its ongoing listing on the JSE.
Central Rand Gold will keep shareholders apprised in respect of
further updates on the Company's proposed plans for the
business.
For further information, please contact:
+27 (0) 87 310
Central Rand Gold Limited 4400
Simon Charles
Beaumont Cornish Limited - Financial +44 (0) 20 7628
& Nominated Adviser 3396
Peterhouse Corporate Finance Limited +44 (0) 20 7469
- Broker 0930
Lucy Williams and Fungai Ndoro
+27 (0) 11 325
Merchantec Capital - JSE Sponsor 6363
Monique Martinez / Marcel Goncalves
Johannesburg
10 November 2017
This information is provided by RNS
The company news service from the London Stock Exchange
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November 10, 2017 11:47 ET (16:47 GMT)
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