| Wed 20 Jul 2005, 16:26 | | Randgold and Exploration Company Limited Receives |
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Randgold and Exploration Company Limited Receives Notice From Nasdaq Regarding
Potential Delisting For Failure to File Report on Form 20-F; Intends to Appeal
Randgold & Exploration Company Limited
(Incorporated in the Republic of South Africa)
(Registration number1992/005642/06)
Share code: RNG
ISIN: ZAE000008819
Nasdaq trading symbol: RANGY
Randgold and Exploration Company Limited Receives Notice From Nasdaq Regarding
Potential Delisting For Failure to File Report on Form 20-F; Intends to Appeal
Randgold and Exploration Company today announced that on July 18, 2005, the
Company received a notice from the Nasdaq staff indicating that the Company is
not in compliance with Nasdaq`s requirements for the continued listing due to
the failure to timely file its Form 20-F for the year ended December 31, 2004,
as required under Marketplace Rule 4310(c)(14) and that therefore its securities
are subject to delisting from The Nasdaq Stock Market. The notice does not by
itself result in immediate delisting of the Company`s securities.
The Company expects to make a timely request for a hearing with the Nasdaq
Listing Qualifications Panel to review the Nasdaq staff`s determination which
will stay the delisting pending the hearing and a determination by the Nasdaq
Listing Qualifications Panel. There can be no assurance that the Nasdaq Listing
Qualifications Panel will grant the Company`s request for continued listing.
The Form 20-F for the year ended December 31, 2004 has been delayed pending
completion of its financial statements. As previously indicated, the Company
has experienced delays in obtaining information necessary to finalize its
audited financial statements and to analyze the financial statements. The
Company is working diligently to complete its audited financial statements and
will file its Form 20-F as soon as practicable thereafter.
Sponsor
Sasfin Corporate Finance
A division of Sasfin Bank Limited
FORWARD-LOOKING STATEMENT DISCLAIMER
Certain statements in this announcement, as well as oral statements that may be
made by the Company`s officers, directors or employees acting on its behalf
related to such information, contain `forward-looking statements` regarding the
Company`s operations, economic performance and financial condition within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995,
specifically Section 27A of the U.S. Securities Act of 1933 and Section 21E of
the U.S. Securities Exchange Act of 1934. All statements, other than statements
of historical facts, are `forward-looking statements.` This includes those
concerning the economic outlook for the mining industry, expectations regarding
commodity prices, the completion and commencement of commercial operations of
certain of the Company`s exploration and production investments, its liquidity,
and capital resources and expenditure. Although the Company is of the opinion
that the expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will prove to be
correct. Actual results could differ materially from those implied by or set out
in the forward-looking statements. Among other factors, this could be as a
result in changes in economic and market conditions, the success of business and
operating initiatives, including development of mining operations, changes in
regulatory environment and other government actions, fluctuations in commodity
prices and exchange rates, business and operational risk management and the
risks identified in Item 3 of the Company`s most recent annual report on Form 20
F filed with the U.S. Securities Exchange Commission and its other filings and
submissions with the SEC. All forward-looking statements attributable to the
Company, or persons acting on its behalf, are qualified in their entirety by
these cautionary statements.
Date: 20/07/2005 03:45:44 PM
Produced by the JSE SENS Department
