| Wed 9 Sep 2009, 8:00 | | CRD - Central Rand Gold Limited - Interdict application launched by Puno Gold |
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CRD
CRD
CRD - Central Rand Gold Limited - Interdict application launched by Puno Gold
Investments (Pty) Limited
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 2007/019223/10)
ISIN: GG00B24HM601
Share code on LSE: CRND
Share code on JSE: CRD
("Central Rand Gold" or "CRG")
Interdict application launched by Puno Gold Investments (Pty) Limited
Central Rand Gold has, together with Central Rand Gold Netherlands Antilles
("CRGNV") and Central Rand Gold SA (Pty) Limited ("CRGSA" or "The Company"),
been cited as a Respondent in an application brought by Puno Gold Investments
(Pty) Limited ("Puno"), the 26% BBBEE shareholder in the South African
subsidiary CRGSA.
In bringing this application, Puno is seeking to interdict CRGSA from
proceeding with mining operations at its Consolidated Main Reef, Langlaagte,
City Deeps and Crown Mines tenements (collectively "the Tenements"). The
decision is pending the final determination by Arbitration award or Court
order of the interpretation of the provisions of the shareholders agreement
entered into between Puno and CRGNV in respect of CRGSA, which provide for the
completion of, and timeframe within which, a Bankable Feasibility Study is to
be prepared in respect of the anticipated mining of the Tenements.
CRGSA, as First Respondent to the application, will oppose the interdict
proceedings which are scheduled to take place on 13 October 2009 or so soon
thereafter as and when the matter may be heard. The Company reasonably
believes that it will be successful in opposing this application.
For further information, please contact:
Central Rand Gold
+27 (0) 11 551 4000
Johan du Toit / Wayne Epstein
Evolution Securities Limited
+44 (0) 20 7071 4300
Simon Edwards / Chris Sim / Neil Elliot
Macquarie First South Advisers (Pty) Ltd
+27 (0) 11 583 2000
Thembeka Mgoduso / Annerie Britz /
Melanie de Nysschen / Manisha Ramlakhan
Buchanan Communications
+44 (0) 20 7466 5000
Bobby Morse / Ben Willey / Katharine Sutton
Jenni Newman Public Relations (Pty) Ltd
+27 (0) 11 506 7300
Jenni Newman / Megann Outram / Lerato Tlatlane
Date: 09/09/2009 08:00:05 Produced by the JSE SENS Department.
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