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February 16, 2009
CRG buys BEE partners' stake in SA subsidiary
JOHANNESBURG (miningweekly.com) - JSE-listed Central Rand Gold (CRG) has exercised the call option, granted in its shareholder agreement with black-economic empowerment (BEE) consortium partner Puno Gold Investments, to acquire Puno's 26% interest in CRG South Africa, the main subsidiary of CRG.
CRG stated that the decision was taken as a result of Puno's inability to fulfil the funding obligations stipulated in the shareholders agreement, failing to demonstrated its commitment to the communities.
Posted by StaffWriter at February 16, 2009 3:15 PM