CENTRAL RAND GOLD LIMITED - Cancellation from AIM

Release Date: 13/11/2017 07:05
Code(s): CRD
 
Wrap Text
Cancellation from AIM

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 £750,000, 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:

 Central Rand Gold Limited                                                      +27 (0) 87 310 4400
 Simon Charles

 Beaumont Cornish Limited - Financial & Nominated Adviser                       +44 (0) 20 7628 3396

 Peterhouse Corporate Finance Limited - Broker                                  +44 (0) 20 7469 0930
 Lucy Williams and Fungai Ndoro

 Merchantec Capital - JSE Sponsor                                               +27 (0) 11 325 6363
 Monique Martinez / Marcel Goncalves

Johannesburg
10 November 2017

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