Central Rand Gold Limited Update re Puno (9975W)

TIDMCRND

RNS Number : 9975W

Central Rand Gold Limited

03 May 2016

 
 
               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") 
----------------------------------------------------- 
 
   CENTRAL RAND GOLD SOUTH AFRICA PROPRIETARY LIMITED 
   ("CRG SA") TO DEFEND APPLICATION MADE BY PUNO GOLD 
     INVESTMENTS PROPRIETARY LIMITED TO WIND-UP CRG 
                           SA 
----------------------------------------------------- 
 

The board of directors of Central Rand Gold Limited ("the Board") wishes to advise shareholders that it has received correspondence from Puno Gold Investments Proprietary Limited ("Puno") relating to an application made by Puno to wind-up CRG SA (the "Application"). CRG SA is the Central Rand Gold Group's principal operating subsidiary, holding all of Central Rand Gold's mining and prospecting rights.

Given the recent finding of the High Court of South Africa to uphold the Company's appeal with costs in relation the dispute with Puno, as announced on 11 April 2016, the Board believes this to be the latest strategy from Puno to frustrate the operations of the Company.

The Board considers the Application to be without merit and has engaged legal advisers to defend the action. Shareholders will be kept fully informed as the matter progresses.

For further information, please contact:

Central Rand Gold [phone]

Lola Trollip / Nathan Taylor

Panmure Gordon (UK) Limited - Nominated Adviser & Broker [phone]

Adam James / James Greenwood

Merchantec Capital - JSE Sponsor [phone]

Marcel Goncalves / Monique Martinez

Jenni Newman Public Relations Proprietary Limited [phone]

Jenni Newman

Johannesburg

3 May 2016

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 03, 2016 03:09 ET (07:09 GMT)