JCD / RNG - JCI Limited / Randgold & Exploration Company - Memorandum Of
JCD RNG
JCD RNG
JCD / RNG - JCI Limited / Randgold & Exploration Company - Memorandum Of
Understanding Between JCI And R&E
JCI LIMITED
Incorporated in the Republic of South Africa)
Registration number 1894/000854/06)
Share code: JCD (Suspended)
ISIN: ZAE000039681
("JCI")
Randgold & Exploration Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1992/005642/06)
Share code: RNG (Suspended)
ISIN: ZAE000008819
(R&E)
MEMORANDUM OF UNDERSTANDING BETWEEN JCI AND R&E
Further to the announcement which featured on SENS on 22 July 2008, in terms
whereof JCI and R&E announced that they had concluded a Memorandum of
Understanding as a precursor to a possible settlement agreement between them,
which settlement is intended, subject to the fulfillment of various conditions
precedent, to give rise to amongst other things JCI causing 285 899 200
preference shares in the preference share capital of Jaganda (Pty) Ltd to be
transferred to R&E. In relation to such announcement, JCI deems it appropriate
to inform shareholders of the following, which has been taken into consideration
in the negotiations and conclusion of the Memorandum of Understanding:
1. Jaganda (Pty) Ltd has been renamed Xelexwa Investment
Holdings (Pty) Ltd;
2. Jaganda (Pty) Ltd was placed into final liquidation by
the High Court of South Africa (South Eastern Cape Local
Division) under Case number 626/08 on 1 April 2008;
3. JCI is currently engaged in attempts, through legal
recourse, to set aside the order of liquidation.
31 July 2008
Johannesburg
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 31/07/2008 09:13:43 Produced by the JSE SENS Department.
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