| Thu 11 Jul 2002, 0:00 | | Randgold & Exploration Company Limited - Randgold |
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RANDGOLD & EXPLORATION COMPANY LIMITED - RANDGOLD RESOURCES PRICING OF PUBLIC
OFFERING
(Incorporated in the Republic of South Africa)
Registration Number 1992/005642/06)
ISIN. ZAE000008819
Share code : RNG
Nasdaq trading symbol: RANGY
NOT FOR DISTRIBUTION IN AUSTRALIA OR JAPAN
For immediate release
RANDGOLD RESOURCES ANNOUNCES PRICING OF PUBLIC OFFERING
London, July 11, 2002 - Randgold Resources Limited today announced that the
public offering of 5,000,000 of its shares was priced at US$6.50 per ordinary
share and US$13 per American Depositary Share (ADS). Each ADS represents two
ordinary shares. The ADSs will trade on the Nasdaq National Market (RRUS) and
the London Stock Exchange (RRUS), and the ordinary shares on the LSE (RRS).
The gold mining and exploration company has said it will use the net proceeds of
the offering to repay some of its debt, complete feasibility studies, finance
development activities and fund working capital requirements.
Randgold Resources is engaged in surface gold mining, exploration and related
activities focused on West Africa.
The company owns a 40% interest in and jointly manages the Morila mine in Mali.
Outside the Morila joint venture, the company holds a number of other
exploration permits. The company has an 80% interest in two advanced-stage
development projects, Loulo, located in Mali, and Tongon, located in Cte
d`Ivoire. Randgold Resources also owns additional exploration permits around
Loulo and Tongon, and continues to focus on areas of promising geology elsewhere
in West Africa.
HSBC Securities USA (Inc) is the global coordinator and bookrunner for the
offering with BMO Nesbitt Burns Corp as co-lead manager. The underwriters have
been granted an option by International Finance Corporation to purchase up to
750,000 additional ordinary shares to cover over-allotments, if any. If the
underwriters exercise their over-allotment option, Randgold Resources would not
receive any proceeds from the sale of these shares.
For further information:
RANDGOLD RESOURCES
(CEO)
Mark Bristow
+44(0) 779-775-2288
randgoldresources@dpapr.com
HSBC (NEW YORK)
Ian Jeynes
+1 212 525-3156
Ian.jeynes@us.hsbc.com
RANDGOLD RESOURCES
(Investor & Media Relations)
Kathy du Plessis
+27(0)83-266-5847
randgoldresources@dpapr.com
A written prospectus related to this offering may be obtained from HSBC
Securities (USA) Inc, 452 Fifth Avenue, Tower 9, New York, New York, 10018 and
HSBC Investment Bank plc, Vintners Place, 68 Upper Thames Street, London EC4V
3BJ.
A registration statement relating to these securities was filed with and
declared effective by the US Securities and Exchange Commission. This release
shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or
jurisdiction.
This announcement has been approved for the purposes of the United Kingdom
Financial Services and Markets of 2000 by HSBC Investment Bank plc, a company
regulated by the Financial Services Authority and a member of the London Stock
Exchange plc.
In connection with the offering, HSBC Securities (USA) Inc., as stabilising
manager, may over-allot or effect transactions on the London Stock Exchange,
Nasdaq National Market or an over the counter market or otherwise with a view to
supporting the market price of the shares and ADSs at a level higher than that
which might otherwise prevail for a limited period after the date hereof.
However, there is no obligation on HSBC Securities (USA) Inc to do this. Such
stabilisation, if commenced, may be discontinued at any time and must be brought
to an end after a limited period.
Issued on behalf of Randgold Resources Limited by du Plessis Associates. dPA
contact Kathy du Plessis on Tel: 27-11- 728 4701, mobile: +27(0)83 266 5847 or
e-mail randgoldresources@dpapr.com
Date: 11/07/2002 03:14:00 PM Produced by the JSE SENS Department
