Canal+ Regulatory News (CAN)

13 Apr 2007 09:47

Central African Gold PLC13 April 2007 Central African Gold Plc / Ticker: CAN / Market: AIM / Sub-sector: Gold Mining 13 April 2007 Central African Gold Plc ("CAG" or "the Company") Re AGA Shareholding Central African Gold Plc, an AIM listed gold mining and exploration company, onthe 20 December 2006 completed the acquisition of the Bibiani gold mine andrelated assets and liabilities, including prospecting licences in Ghana fromAngloGold Ashanti Limited ("AGA") ("the Acquisition"). As part of theconsideration for the Acquisition, AGA was issued 15,825,902 Ordinary Shares inCAG, which under the requirements of the South African Reserve Bank ("SARB"), itwas required to sell within 90 days of admission to trading on AIM that occurredon 28 December 2006. On 13 February CAG announced that AGA had sold 7,000,000 Ordinary Shares to aUS-based investment fund reducing its holding to 8,825,902 Ordinary Shares. AGA has now informed the Company that it has sold a further 7,400,000 OrdinaryShares to a US-based investment fund, ENSO, who in turn has now increased itsstake in CAG to 19,571,911 shares or 4.2 per cent. of the issued share capital. As a result of the above sales, AGA has reduced its holding in CAG to 1,425,902Ordinary Shares (0.3 per cent. of the issued share capital). AGA has informedCAG that it will sell these remaining Ordinary Shares in CAG through the marketin an orderly fashion in order to fulfil the SARB requirement. For further information please contact or visit www.centralafricangold.com orcontact: Greg Hunter Central African Gold Plc Tel: +27 (0)82 882 4222 In London:Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0)20 7242 4477Simon Raggett Strand Partners Limited Tel: +44 (0)20 7409 3494Braden Saunders Strand Partners Limited Tel: +44 (0)20 7409 3494 In South Africa:Nicole Broome Central African Gold Tel: +27 (0)11 676 2500 Mob: +27 (0)83 601 1702Charmane Russell Russell and Associates Tel: +27 (0)11 880 3924 Mob: +27 (0)82 372 5816 Notes to Editors: Central African Gold Plc, admitted to AIM in April 2004, was established toacquire gold assets with a geographical focus on Africa. The Company hasestablished a sound portfolio with projects in Ghana, Zimbabwe, Mali andBotswana. It has a highly experienced management team, which has worked togetherfor four years managing six underground greenstone gold mining operations andbuilding exploration portfolios. CAG's portfolio includes the producing Bibiani gold mine and prospectinglicences in Ghana, which it acquired from AngloGold Ashanti Ltd, the producingFalcon and Olympus gold mines in Zimbabwe, two joint ventures in Mali covering23 prospective permits and licences in Botswana covering the extension of theKraaipan greenstone belt from South Africa. The directors are evaluatingadditional prospects in Africa to establish CAG as a leading mid-tier Africangold producer with world class exploration and production assets. The Company's strategy is to become a leading mid-tier operating gold company,with an initial target of circa 200,000 ounces of annualised low-cost goldproduction and 7.5 million ounces of resource by the end of 2008. This information is provided by RNS The company news service from the London Stock Exchange