Central Rand Gold Limited Convertible Security with Bergen (9510T)
12 January 2017 - 6:00PM
UK Regulatory
TIDMCRND
RNS Number : 9510T
Central Rand Gold Limited
12 January 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 2007/0192231/10)
ISIN: GG00B92NXM24
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or the "Company")
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US$240,000 CONVERTIBLE SECURITY WITH BERGEN
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The Board of Directors of Central Rand Gold ("the Board") is
pleased to announce that the Company has agreed to issue a zero
coupon convertible security with the nominal value of US$240,000
(at the purchase price of US$200,000) subject to the terms and
conditions set out in the convertible securities issuance deed
("the Deed"), the details of which were disclosed to the market on
7 June 2016 and 25 October 2016. The Board believes that, in
addition to the loan agreement announced on 10 January 2017, this
will provide the Company with additional working capital.
In connection with the issuance of this convertible security,
the terms and conditions of the Deed have been amended to provide
for the nominal value and purchase price of the convertible
security as set out above, and to provide that the conversion price
in relation to the convertible security will be at the investor's
election, being either:
(a) 80% of the average of five daily volume-weighted average
prices of the shares on AIM (rounded down to the nearest one tenth
of a pence) during a specified period preceding the relevant
conversion, with the pounds sterling exchange rate of each US
dollar conversion amount determined by reference to the foreign
exchange rates during a specified period preceding the relevant
conversion; or
(b) GBP0.0372.
For further information, please contact:
Central Rand Gold +27 (0) 87 310 4400
Lola Trollip
ZAI Corporate Finance Ltd - Nominated Adviser & Broker +44
(0) 20 7060 2220
John Treacy / Jamie Spotswood
Merchantec Capital - JSE Sponsor +27 (0) 11 325 6363
Monique Martinez / Marcel Goncalves
Johannesburg
12 January 2017
Sponsor
Merchantec Capital
The information communicated in this announcement is inside
information for the purposes of Article 7 of Market Abuse
Regulation 596/2014 ("MAR").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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