| Fri 28 May 2010, 14:17 | | RNG - Randgold & Exploration Company Limited - Voluntary disclosure of |
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RNG
RNG
RNG - Randgold & Exploration Company Limited - Voluntary disclosure of
Illustrative Financial Information pertaining to the settlement and results of
general meeting of R&E
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 DISCLOSURE OF ILLUSTRATIVE FINANCIAL INFORMATION PERTAINING TO THE
SETTLEMENT AND RESULTS OF GENERAL MEETING OF R&E
1. The R&E board takes pleasure in announcing that at the general meeting of
R&E shareholders held today, Friday, 28 May 2010, at 11h00, all ordinary
resolutions tabled in respect of the proposed settlement between R&E, JCI
Limited ("JCI") and JCI Investment Finance (Pty) Limited and as a separate
matter the transfer of 6 690 610 ordinary shares in Free State Development
and Investment Corporation Limited to R&E by JCI Gold Limited, the details
of which were contained in the circular distributed to shareholders on 12
May 2010, were approved by an overwhelming majority of R&E shareholders
entitled to vote thereon.
2. At the aforementioned general meeting, shareholders were presented with the
following information setting out the financial information of the proposed
settlement on the Net Asset Value ("NAV") of R&E at 31 March 2010.
3. The voluntary information presented below has not be reviewed or reported
on by the company`s auditors and is presented by the directors of R&E for
informational purposes only. Furthermore the NAV statement at 31 March
2010 has not been prepared in accordance with IFRS, but on a similar basis
as NAV`s published by R&E in the past and most recently in the annual
report for the year ended 31 December 2009, distributed to shareholders on
29 March 2010, as part of the report of the Chairman and CEO.
Unaudited NAV at 31 March Unaudited NAV at 31
2010 including the March 2010 post the
settlement distribution
ZAR `000 Rand per ZAR `000 Rand per
share share
Assets 1 497 195 20.85 564 763 7.86
Gold Fields 798 975 11.13 218 082 3.04
JCI 366 224 5.1 14 686 0.2
Prospecting 474 0.01 474 0.01
rights
Other assets 4 563 0.06 4 563 0.06
Cash and cash 326 959 4.55 326 959 4.55
equivalents
Liabilities -63 723 -0.89 -63 723 -0.89
Post -34 575 -0.48 -34 575 -0.48
retirement
obligation
Income tax -15 196 -0.21 -15 196 -0.21
payable
Trade and -8 089 -0.11 -8 089 -0.11
other payables
JCI - FSD -5 863 -0.08 -5 863 -0.08
minority
NAV 1 433 473 19.96 501 041 6.98
Shares 71 813 128 71 813 128
Notes and assumptions
1. The information set out above has not be reviewed or reported on by
the company`s auditors.
2. The above calculation is based on the assumption that the Gold Fields
Limited ("GFI") share price is R 100 per share and JCI`s NAV as
determined by the management of JCI is R0.1968 per share.
3. A copy of the presentation given to shareholders at the general
meeting is available on the Company`s website.
4. R&E shareholders are reminded that the R&E shares will be re-listed on
the JSE at the commencement of trade on Friday, 4 June 2010.
5. R&E shareholders are further advised that the JCI shareholders meeting
to approve the proposed settlement will be held at 14h00 on Friday, 4
June 2010. R&E shareholders will be advised in due course as to the
outcome of the JCI shareholders meeting.
Johannesburg
28 May 2010
Sponsor and Corporate Advisor - PSG Capital (Pty) Limited
Date: 28/05/2010 14:17:02 Produced by the JSE SENS Department.
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