| Fri 23 Feb 2007, 8:41 | | RNG/JCD - R&E/ JCI - Joint cautionary and further |
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JCD RNG KRHT
JCD RNG
RNG/JCD - R&E/ JCI - Joint cautionary and further renewal of previous cautionary
Randgold & EXPLORATION COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1992/005642/06)
Share code: RNG & ISIN: ZAE000008819
(Suspended)
ADR Ticker symbol: RNG
Nasdaq trading symbol: RANGY (Delisted)
("R&E")
JCI LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1984/00854/06
Share code: JCD & ISIN: ZAE0000039681 (Suspended)
("JCI")
JOINT CAUTIONARY ANNOUNCEMENT TO R&E AND JCI SHAREHOLDERS
AND FURTHER RENEWAL OF PREVIOUS CAUTIONARY ANNOUNCEMENTS
R&E shareholders and JCI shareholders are advised that the boards of directors
of R&E and JCI are currently in negotiations. R&E shareholders and JCI
shareholders are advised to exercise caution when trading their shares over
the counter, until such time as the negotiations between the respective
boards of R&E and JCI are successfully concluded and a formal announcement
is published on SENS and in the press.
FURTHER RENEWAL OF PREVIOUS CAUTIONARY ANNOUNCEMENTS
Further to the previous cautionary announcements, R&E and JCI shareholders are
advised to continue to exercise caution when trading in their shares over-
the-counter, until such time the audited annual financial statements for
R&E for the years ended 31 December 2004, 31 December 2005 and 31 December
2006 are published, and the audited annual financial statements for JCI for
the years ended 31 March 2004, 31 March 2005 and 31 March 2006
respectively, are published or further information is published.
FORWARD-LOOKING STATEMENT DISCLAIMER FOR R&E
Certain statements in this announcement, as well as oral statements that may be
made by R&E``s officers, directors or employees acting on its behalf
relating to such information, contain "forward-looking statements" 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". These include, without limitation, those statements concerning
the fraud and misappropriation that are alleged to have occurred and the
time periods affected thereby; the ability of R&E to recover any
misappropriated assets and investments; the outcome of any proceedings on
behalf of or against R&E,; R&E`s ability to complete its forensic
investigation and prepare audited financial statements; the time period for
completing its forensic investigation and audited financial statements; the
amount of any claims R&E is or is not able to recover against others,
including JCI and the success of its mediation with JCI; and the ultimate
impact on R&E`s previously released financial statements and results,
assets and investments, including with respect to R&E`s investment in
Randgold Resources Limited ("RRL"), business, operations, economic
performance, financial condition, outlook and trading markets. Although R&E
believes that the expectations reflected in such forward-looking statements
are reasonable, no assurance can be given that such expectations will prove
to be correct, particularly in light of the extent of the alleged frauds
and misappropriations uncovered to date. Actual results could differ
materially from those implied by or set out in the forward-looking
statements.
Among other factors, these include the extent, magnitude and scope of any fraud
and misappropriation that may be ultimately determined to have occurred and
the time periods and facts related thereto following the completion of the
forensic investigation and any other investigations that may be commenced;
the time periods ultimately determined to be affected thereby and the
ultimate outcome of such forensic investigation; the ability of R&E to
successfully assert any claims it may have against other parties for fraud
or misappropriation of R&E assets or otherwise and the solvency of any such
parties, including JCI; the determinations of the mediators and acceptance
of any such determinations by the shareholders of R&E and JCI; the ability
of R&E to defend successfully defend any counterclaims or proceedings
against R&Eit; the ability of R&E and its forensic investigators to obtain
the necessary information with respect to the R&E`s transactions, assets,
investments, subsidiaries and associated entities to complete the forensic
investigation and prepare audited financial statements and the ultimate
outcome of such forensic investigation; the willingness and ability of
R&E`s forensic investigators and auditors to issue any final opinions with
respect thereto; the ability of R&E to implement improved systems and to
correct its late reporting; the JSE Limited`s willingness to lift its
suspension of the trading of R&E`s securities on that exchange; R&E`s
ability to relist its securities on the Nasdaq National Market; changes in
economic and market conditions; fluctuations in commodity prices and
exchange rates; the success of any business and operating initiatives,
including any mining rights; changes in the regulatory environment and
other government actions; business and operational risk management; other
matters not yet known to R&E or not currently considered material by R&E;
and the risks identified in Item 3 of R&E`s most recent annual report on
Form 20-F filed with the SEC and its other filings and submissions with the
SEC.
All forward-looking statements attributable to R&E, or persons acting on its
behalf, are qualified in their entirety by these cautionary statements. R&E
expressly disclaims any obligation to release publicly any update or
revisions to any forward-looking statements to reflect any changes in
expectations, or any change in events or circumstances on which those
statements are based, unless otherwise required by law.
23 February 2007
Johannesburg
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 23/02/2007 08:27:01 Produced by the JSE SENS Department.
