Gold Exposure Increases Value In Randgold Threefol
Gold Exposure Increases Value In Randgold Threefold
RANDGOLD & EXPLORATION COMPANY LTD
Johannesburg, 27 June 2002 - The South African Reserve Bank`s decision to
allow Randgold & Exploration (RG&E) to reduce its shareholding in London-
listed subsidiary Randgold Resources (RRL) is a significant breakthrough,
chairman Roger Kebble says in the annual report published today.
The bank has agreed to allow RG&E to reduce its minimum stake in RRL from
50.1% to 36%. Kebble said the bank`s relaxation, in conjunction with RRL`s
proposed secondary listing in North America, should improve the liquidity in
RRL and expand its shareholder base.
Kebble noted that RG&E`s calculated net asset value per share increased
threefold to 1 838 cents during 2001 thanks to the increase in the gold
price and the weakening of the rand over this period. In addition to its
subsidiary RRL, RG&E also has interests in a number of JSE-listed gold
companies.
Issued on behalf of Randgold & Exploration by du Plessis Associates.
dPA contact Kathy du Plessis on 082 330 2034 or
e-mail randgold@dpapr.com.
For further information call:
Roger Kebble on +27(11) 309-6000
or mobile +27(0)83-444-3030
Date: 27/06/2002 10:00:00 AM Produced by the SENS Department
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