Randgold & Exploration - Sarb Grants Permission To
RESOURCES
Randgold & Exploration Company Limited
(Incorporated in the Republic of South Africa)
Registration Number 1992/005642/06)
Nasdaq trading symbol : RANGY
ISIN No. ZAE000008819
Share Code : RNG
RANDGOLD & EXPLORATION OBTAINS PERMISSION TO REDUCE HOLDING IN RANDGOLD
RESOURCES
Johannesburg, 8 May 2002 - Randgold & Exploration announced today that
it had received permission from the South African Reserve Bank to reduce
its shareholding in Randgold Resources Limited to a minimum of 36% of
Randgold Resources' issued share capital, subject to certain conditions.
The bank has until now required it to have a minimum stake of 50.1% in
its London-listed subsidiary.
Chairman Roger Kebble said the easing of the restriction would enable
Randgold Resources to improve the liquidity of its shares and broaden
its shareholder base, in line with the group's overall objective of
enhancing shareholder value.
Issued on behalf of Randgold & Exploration Company Limited by du Plessis
Associates.
Investor & Media Relations contact Kathy du Plessis
Tel: 27(11) 728 4701, cell: (0)83 266 5847, e-mail randgold@dpapr.com
Disclaimer :
Certain of the statements made in this document are forward-looking in
nature and are based on certain assumptions which involve risk and
uncertainty because they relate to events and depend on circumstances
that will occur in the future. Randgold & Exploration undertakes no
obligation to update any forward-looking statements. Mining and
exploration by its very nature, is a risky business and one in which the
producers have little influence over the price of their product.
Consequently investors should be mindful of the inherent risks
associated with all mineral development projects.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
