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CENTRAL RAND GOLD LIMITED - Board Resignation Operational and Organisational Review

Release Date: 06/06/2014 08:00:00      Code(s): CRD       PDF(s):  
Board Resignation Operational and Organisational Review

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”)


Board Resignation

Operational and Organisational Review



Board Resignation
The Board of directors of Central Rand Gold hereby notifies its
shareholders that Finance Director, Patrick Malaza, has resigned from the
Company, to pursue other business interests. Patrick will leave the
Company at the end of July 2014.

Patrick’s resignation enables the Company to reallocate duties within the
finance team. This will provide an opportunity for emerging talent within
the finance team to assume more responsibility and also contribute to the
future success of the Company. Further, the reallocation of duties will
result in a significant reduction in remuneration costs.

Johan du Toit, Chief Executive Officer of the Company commented: “I would
like to thank Patrick for his invaluable contribution over the last five
years, which included some very trying and tough times. I wish him all
the best for his future business endeavours. With any change, new
opportunities arise and I believe that our existing employees have
the capability to take up these new and additional roles and
responsibilities.”


Operational and Organisation Review
With the successful commissioning of the new mill 3(“Mill 3”) completed
in May, the Company has embarked on an efficiency review of the entire
operations. The purpose of the review is to identify efficiency
improvement opportunities which it is hoped will have a streamlining
effect across the organisation.

Commenting on the efficiency review was Nathan Taylor “It is important
that we as a Company are constantly reviewing how we conduct our
business. We need to ensure that we are always striving to improve and
operate more efficiently. The commissioning of Mill 3 on time and within
budget was exceptional and has established a new benchmark for how we
must approach all areas of the business. We look forward to updating
shareholders further as new operational efficiencies are identified and
executed.”

For further information, please contact:
Central Rand Gold                          +27 (0) 11 674 2304
Johan du Toit / Nathan Taylor

Charles Stanley Securities Limited         +44 (0) 20 7149 6478
Marc Milmo / Mark Taylor

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

Buchanan                                   +44 (0) 20 7466 5000
Bobby Morse / Louise Mason

Jenni Newman Public Relations              +27 (0) 11 506 7351
Proprietary Limited
Jenni Newman


Johannesburg
6 June 2014

Sponsor
Merchantec Capital

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