RANDGOLD and EXPLORATION (RANGY) Message Board

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Gold/Mining/Energy : RANDGOLD and EXPLORATION (RANGY)

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To: Gerald A. Lucker who wrote (345)	4/14/1999 11:55:00 PM
From: baystock	of 448

Jerry, these 2 articles are interesting, thanks. Looks like the Keebles can't merge Randgold Resources into JCI without the consent of the other independent board members, because of London exchange regulations. And the timeframe for restructuring details appears to now be late May: <<As a London-listed entity, the group is required to maintain related party agreements with its SA counterpart Randgold & Exploration. For example, all transactions between the two entities have to provide commercial value to both sets of shareholders. Ditto with the merger plans. If Randgold Resources is to become the offshore arm of a simplified JCI group, then it will have to justify how this adds value to its independent board. Brett and Roger Kebble both sit on the Randgold Resources board but cannot vote as they will be interested parties. The other board members include former CEO of HSBC, Bernard Asher; Bob Israel of Schroeders, an IFC representative, and a couple of Swiss bankers. Randgold & Exploration chairman Roger Kebble believes finalisation of the merger will be pushed out to the June quarter, presenting the plan to the market in late May. "We don't want to mess it up," he says.>> Ram

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