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RANDGOLD & EXPLORATION COMPANY LIMITED - Voluntary Announcement: Randgold And Charles Orbach Reach A Settlement And Withdrawal Of Cautionary Announcement

Release Date: 05/11/2018 16:00
Code(s): RNG     PDF:  
 
Wrap Text
Voluntary Announcement: Randgold And Charles Orbach Reach A Settlement And Withdrawal Of Cautionary Announcement

RANDGOLD & EXPLORATION COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1992/005642/06)
Share Code: RNG
ISIN: ZAE000008819
(“R&E” or “the Company”)

VOLUNTARY ANNOUNCEMENT: RANDGOLD AND CHARLES ORBACH REACH A
SETTLEMENT

Shareholders are hereby advised that the Company and Charles Orbach and Company (“Charles
Orbach”), a former auditor of R&E, have reached a settlement in respect of the High Court action
which the Company brought against Charles Orbach in 2008 (“the action”). R&E expects payment
of the full settlement amount of R21 750 000.00 (twenty one million seven hundred and fifty
thousand Rand) within 14 days in accordance with the settlement agreement.

The effect of the settlement is that against payment of the settlement amount, R&E and Charles
Orbach shall have no further claims against each other. R&E shall deliver a notice of withdrawal
of the action thereafter.

WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the Company’s cautionary announcement released on SENS on 25
October 2018, which are hereby withdrawn, and shareholders are no longer required to exercise
caution when dealing in the Company’s securities.

5 November 2018
Johannesburg

Sponsor
PSG Capital

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