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RNG
RNG
RNG - Randgold & Exploration Company Limited - Update To Shareholders
Randgold & Exploration Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1992/005642/06)
Share code: RNG
ISIN: ZAE000008819 (Suspended)
NASDAQ trading symbol: RANGY (delisted)
ADR ticker symbol: RNG
("R&E" or "the Company")
UPDATE TO SHAREHOLDERS
As disclosed previously, R&E has and continues to find itself unable to produce
meaningful Annual Financial Statements, due to the alleged falsifications and
misappropriations which occurred during the tenure of the previous board of
directors under the leadership of the late Brett Kebble. In the main, the assets
in the possession of the company currently consist of investments in listed
equities, cash, prospecting rights and various claims (including the R&E claims
against JCI Limited ("JCI")). Given the company`s inability to produce Annual
Financial Statements, the Board of R&E deems the regular publication of R&E`s
net asset value statement together with other relevant information, as an
appropriate means of updating shareholders.
Shareholders are informed accordingly that R&E has today published on its
website an update of financial and other relevant information.
(www.randgold.co.za) In addition, shareholders will be posted a copy of the
document containing the full publication, as soon as practicable.
The publication consists of the following salient items:
Overview of R&E`s progress in resolving the JCI dispute;
Overview of other activities;
Overview of the net asset value as at 31 March 2008;
R&E`s future strategy;
Overview of R&E`s claims against JCI and its subsidiaries and associated
companies;
Summary of forensic findings of John Louw McKnight & Co (Pty) Limited;
R&E`s Litigation Statement including a statement of settlements concluded; and
R&E`s Net Asset Value Statement at 31 March 2008 incorporating the Limited
Assurance Report of the Independent Auditors.
By order of the Board
Company Secretary
24 July 2008
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Date: 24/07/2008 15:12:01 Produced by the JSE SENS Department.
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