JCD KRHT
JCD
JCD - JCI - Resignation of Director
JCI Limited
(Incorporated in the Republic of South Africa)
Registration number 1894/000854/06
Share code: JCD ISIN: ZAE0000039681 (Suspended)
("JCI") or ("the Company")
DIRECTORATE: RESIGNATION
In compliance with section 3.59 of the Listings Requirements of the JSE Limited,
notification is hereby given that Mr. David Morris Nurek has advised the board
of his intention to resign from the positions of Chairman and Director of JCI.
His resignation will take effect on the same day that the shareholders either
approve or reject the proposed merger with Randgold and Exploration Company
Limited, or upon any prior notification that the merger will not proceed.
Outlining the reasons for his impending resignation, Mr. Nurek noted that when
he was appointed to the board, he did not foresee the appointment to be a long
term role, given that his mandate at that time was to assist and guide the newly
appointed management team to:
(a) stabilise the precarious financial position in which the Company found
itself at that time;
(b) preserve and grow the remaining assets of the Company;
(C) resolve key outstanding issues affecting the Company; and
(d) nurse the Company back to health and determine a way forward that would be
in the best interests of all of the shareholders.
Mr. Nurek believes that most, if not all, of these objectives have been
achieved, and will, at the time of shareholders voting on the proposed merger,
have completed the mandate given to him.
The board wishes to express its appreciation for the commitment and contribution
that Mr. Nurek has made, and continues to make, to the Company during an
extremely harrowing and difficult period of the Company`s existence.
29 May 2007
Johannesburg
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 29/05/2007 17:00:09 Produced by the JSE SENS Department.
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