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April 9, 2009
Central Rand faces legal battle to buy BEE partner's stake in SA unit
JOHANNESBURG (miningweekly.com) - Puno Gold Investments, the black economic-empowerment (BEE) partner of JSE-listed Central Rand Gold South Africa (CRGSA), has instituted an urgent application with the South Gauteng High Court to interdict the gold-miner from proceeding with the exercise of the call options, pending the final determination by arbitration or a court order.
In February, Central Rand Gold Netherlands Antilles (CRGNV), the Central Rand group company directly holding shares in CRGSA, announced that it would exercise the call option to acquire Puno Gold Investment's 26% interest in the South African unit.
Posted by StaffWriter at April 9, 2009 10:46 AM