19 Nov 2014 13:00
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") |
Holding in Company |
The Company has today been informed by Redstone Capital Limited ("Redstone") that Redstone has completed the transfer of 13,000,000 of the Central Rand Gold shares that it held to certain of its shareholders, as a distribution in specie of such Central Rand Gold shares.
Prior to the distribution in specie, Redstone's shareholding in Central Rand Gold and its shareholding assuming full conversion of Loan Notes and Warrants currently held by Redstone was as follows:
Current | Following Full Conversion of Loan Notes | Following Full Conversion of Loan Notes & Warrants | ||||
No. of Shares | % | No. of Shares | % | No. of Shares | % | |
Redstone* | 23,991,300 | 31.9 | 78,173,736 | 60.4 | 105,264,954 | 67.3 |
On 19 November 2014, Redstone transferred 6,000,000 Central Rand Gold shares to Mr Tang (who has a 20% shareholding in Redstone) and 7,000,000 Central Rand Gold shares to Mr Gu (who has a 26% shareholding in Redstone) via a partial distribution in specie of the Central Rand Gold shares.
Following these transfers, Mr Tang and Mr Gu have no further interest in the remaining shares that Redstone holds in Central Rand Gold nor in the Loan Notes, Warrants or any Central Rand Gold shares that could be issued to Redstone if it decides to convert some or all of the Loan Notes and Warrants which it currently holds. The table below sets out the resulting shareholdings of Redstone, Mr Tang and Mr Gu in Central Rand Gold following the distribution in specie and also on the assumption of the full conversion of Redstone's Loan Notes and Warrants into ordinary shares.
Current | Following Full Conversion of Loan Notes | Following Full Conversion of Warrants | ||||
No. of Shares | % | No. of Shares | % | No. of Shares | % | |
Redstone* | 10,991,300 | 14.6 | 65,173,736 | 50.4 | 92,264,954 | 59.0 |
Yizhou Gu | 7,000,000 | 9.3 | 7,000,000 | 5.4 | 7,000,000 | 4.5 |
Hong Tang | 6,000,000 | 8.0 | 6,000,000 | 4.6 | 6,000,000 | 3.8 |
Notwithstanding the fact that Mr Tang and Mr Gu have no further interest in the remaining Central Rand Gold shares held by Redstone nor in the Loan Notes and Warrants currently held by Redstone, for the purposes of the Takeover Code, both Mr Tang and Mr Gu will remain part of the Redstone concert party.
* Nathan Taylor and Jason Hou, directors of Central Rand Gold, are also shareholders in Redstone and therefore have a beneficial interest in the shares held by Redstone.
For further information, please contact:
Central Rand Gold +27 (0) 87 310 4400
Johan du Toit / Nathan Taylor
Charles Stanley Securities Limited +44 (0) 20 7149 6478
Marc Milmo / Mark Taylor
Merchantec Capital +27 (0) 11 325 6363
Monique Martinez / Marcel Goncalves
Jenni Newman Public Relations +27 (0) 11 506 7351
Proprietary Limited Jenni Newman
Johannesburg
19 November 2014
Sponsor
Merchantec Capital