Central Rand Gold Limited Cancellation from AIM (2329W)

TIDMCRND

RNS Number : 2329W

Central Rand Gold Limited

10 November 2017

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 2007/019223/10)

ISIN: GG00B92NXM24

   LSE share code: CRND   JSE share code: CRD 

("Central Rand Gold" or "the Company")

Cancellation from AIM

Trading in the Company's shares was suspended on 11 May 2017 pending clarification of the Company's financial position. Pursuant to AIM Rule 41, the Exchange will cancel admission of a Company's securities where trading in them has been suspended for more than six months.

In the period since suspension, the Company has restructured its board of directors, secured several offers of finance, conditionally raised GBP750,000, replaced its nominated adviser and, subject to a number of conditions (including shareholder approval), had secured an agreement to sell its operational assets to a consortium of its lenders in exchange for a debt restructuring which the Board believed would be in the best interest of shareholders as a whole.

However, as the Company's shares remain suspended from trading on AIM, listing of the shares on AIM will be cancelled with effect from 7:00am (UK time) on Monday, 13 November 2017 ("Cancellation"). As a result of Cancellation, the conditional placing of shares, as announced on 19 October 2017, will not now proceed. The Board will continue to explore refinancing options which could include a pre-emptive offer to shareholders.

For the time being, the Company will retain its JSE listing, however, in light of its current financial condition and the costs associated with maintaining its listing on the JSE, the Board will be immediately evaluating its ongoing listing on the JSE.

Central Rand Gold will keep shareholders apprised in respect of further updates on the Company's proposed plans for the business.

For further information, please contact:

 
                                         [phone] 
 Central Rand Gold Limited                4400 
 Simon Charles 
 Beaumont Cornish Limited - Financial    [phone] 
  & Nominated Adviser                     3396 
 
 Peterhouse Corporate Finance Limited    [phone] 
  - Broker                                0930 
 Lucy Williams and Fungai Ndoro 
                                         [phone] 
 Merchantec Capital - JSE Sponsor         6363 
 Monique Martinez / Marcel Goncalves 
 

Johannesburg

10 November 2017

This information is provided by RNS

The company news service from the London Stock Exchange

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November 10, 2017 11:47 ET (16:47 GMT)