| Wed 7 Mar 2007, 11:23 | | RNG/JCD - R&E/ JCI Limited - Joint Announcement An |
|
JCD RNG KRHT
JCD RNG
RNG/JCD - R&E/ JCI Limited - Joint Announcement And Further Renewal Of
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 ANNOUNCEMENT TO R&E AND JCI SHAREHOLDERS RELATING TO A STATEMENT BY THE
MEDIATORS IN THE MEDIATION BETWEEN THE COMPANIES; A POSTSCRIPT THERETO AND
FURTHER RENEWAL OF CAUTIONARY ANNOUNCEMENT
1. Shareholders of R&E and JCI are referred to the joint cautionary
announcement published on 23 February 2007.
2. At the request of the Mediators, Advocate S Burger SC, Mr. C. Nupen and
Prof. H. Weiner, the Statement issued by the Mediators on 28 February 2007
and the Postscript thereto, dated 5 March 2007 are published by the
respective Boards of Directors of R&E and JCI.
3. Regard being had to the fact that the matter has not been finally resolved,
shareholders of R&E and JCI are advised that they should continue to
exercise caution when trading in their shares over the counter.
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". 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 Randgold Resources Limited, 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 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 any counterclaims or proceedings against it; the ability
of R&E and its forensic investigators to obtain the necessary information with
respect to R&E`s transactions, assets, investments, subsidiaries and associated
entities to complete the forensic investigation and prepare audited financial
statements; 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; 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.
7 March 2007
Johannesburg
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 07/03/2007 11:23:56 Produced by the JSE SENS Department.
