Central Rand Gold Limited
(Incorporated as a company with limited liability under the laws of Guernsey, Company Number 45108)
(Incorporated as an external company with limited liability under the laws of South Africa, Registration number 2007/0192231/10)
ISIN: GG00B92NXM24
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or the "Company")
SUBSCRIPTION TO RAISE £200,000
Central Rand Gold is pleased to announce that it is undertaken a subscription to raise £0.20 million through the subscription of 2,000,000 new ordinary shares ("Subscription Shares") at a price of 10 pence per ordinary share (the "Subscription").
The proceeds of the Subscription will be used primarily to strengthen the Company's balance sheet and provide working capital in order to undertake continued surface mining operations, together with the programmed plant upgrades and efficiency processes improvements. The upgrades and improved efficiencies are intended to improve plant availability and recovery rates. The proceeds will also be used to repay trade creditor balances relating to the closure of the Company's underground mining operations and complete the disposal of Central Rand Gold (Netherlands Antilles) N.V., as previously announced.
Application has been made for the 2,000,000 Subscription Shares to be admitted to trading on AIM and on AltX ("Admission"). It is expected that Admission will become effective on AIM at 8.00 a.m. (UK time) on 24 June 2015 and thereafter on AltX. The Subscription Shares will, when issued and fully paid, rank pari passu with the existing ordinary shares, including the right to receive all dividends and other distributions declared, made or paid after the date of Admission.
Following Admission of the Subscription Shares, the total issued share capital of the Company will increase to 95,195,808 ordinary shares. The Company does not hold any shares in treasury and therefore the total number of voting rights is 95,195,808 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a charge to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
For further information, please contact:
Central Rand Gold +27 (0) 87 310 4400
Johan du Toit / Nathan Taylor
Charles Stanley Securities- Nominated Adviser +44 (0) 20 7149 6000
Marc Milmo / Mark Taylor
Merchantec Capital - JSE Sponsor +27 (0) 11 325 6363
Marcel Goncalves / Monique Martinez
Jenni Newman Public Relations Proprietary Limited +27 (0) 11 506 735
Jenni Newman
Johannesburg
19 June 2015