Go Back Email this Link to a friend

CENTRAL RAND GOLD LIMITED - Redstone Capital Share Option take-up

Release Date: 25/03/2014 16:04:00      Code(s): CRD       PDF(s):  
Redstone Capital Share Option take-up

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
LSE share code: CRND JSE share code: CRD
(“Central Rand Gold” or the “Company”)

Redstone Capital Share Option take-up

Pursuant to the terms of the option agreement entered into between the Company and Redstone
Capital Limited (“Redstone Capital”) dated 2 August 2013 (“Option Agreement”), following
completion of the open offer that was completed by the Company on 20 January 2014, Redstone
Capital had the right to subscribe for a maximum of 32,605,167 new ordinary shares. The Company
has received confirmation that Redstone Capital will take up its rights under the Option Agreement
and that Redstone Capital is subscribing for 23,991,300 Ordinary Shares at a price of 8.78 pence per
Ordinary Share. The total consideration payable to the Company pursuant to this subscription is
approximately £2.11 million.

Following the exercise of the option, Redstone Capital will be interested in 23,991,300 Ordinary
Shares representing approximately 31.91% of the Company’s current issued share capital.

In addition, Redstone Capital holds loan notes and warrants in the Company which, if converted and
exercised in full, would give Redstone Capital an additional 81,273,654 ordinary shares.

Application is being made for the 23,991,300 Ordinary Shares issued following the exercise of the
option to be admitted to trading on AIM and AltX. It is expected that admission will occur on 2 April
2014. The new Ordinary Shares issued pursuant to the exercise of the option will rank pari passu with
the existing Central Rand Gold Ordinary Shares.

Following the issue of new Ordinary Shares to Redstone Capital under the Option Agreement, the
issued share capital of the Company will be 75,180,808 Ordinary Shares.

Johan du Toit, Chief Executive Officer, commented: “I would like to thank Redstone Capital for its
continued support demonstrated by the take up of its option rights following the open offer. This
continued support by our strategic investor will further advance the improvements to our operations
and continue Central Rand Gold’s goal of increasing value to our shareholders.”

For further information, please contact:
Central Rand Gold                                                                            +27 (0) 87 310 4400
Johan du Toit / Patrick Malaza
Charles Stanley Securities Limited                                                          +44 (0) 20 7149 6000
Marc Milmo / Mark Taylor
Merchantec Capital                                                                           +27 (0) 11 325 6363
Marcel Goncalves / Monique Martinez
Buchanan                                                                                    +44 (0) 20 7466 5000
Bobby Morse/Louise Mason
Jenni Newman Public Relations Proprietary Limited   +27 (0) 11 506 735
Jenni Newman

25 March 2014

JSE Sponsor
Merchantec Capital

Date: 25/03/2014 04:04:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Send e-mail to
© 2021 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.