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Chris Nissen’s Resignation from Randgold & Exploration

 
5 April 2007-

Chris Nissen, who announced his resignation from the Board of Randgold & Exploration Company Ltd on Thursday 28 March 2007, has clarified that his decision was prompted by a desire to create time to fulfil other business interests.

He said that it was not, as implied in some reports, related to the High Court application by Trinity Asset Management alleging that he was “conflicted”.

Nissen said that following the death of Brett Kebble in 2005, he had agreed to remain on the Boards of Randgold & Exploration & JCI Limited in order to ensure continuity.

"Now that the companies are heading for a merger I feel comfortable in standing down from the Board of Randgold & Exploration in order to devote more time to my other business interests. I will however remain on the board of JCI for the moment as I believe that I can still add unique value in my capacity as chairman of Boschendal (Pty) Ltd."

Nissen said that he was in no way conflicted in having served on both boards:

"On the contrary the insight I was able to bring to the deliberation because of my long association with the company served the best interest of shareholders."

“I am fully supportive of the proposal to merge JCI and R&E and I do not believe that the legal action threatened by certain minority shareholders has any legal basis."

Media statement issued on behalf of Randgold & Exploration Company Limited by Brian Gibson (Contact 011 8801510 or 083 253 5988)

 

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