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July 23, 2008

JCI offer to register 286m Jaganda preference shares

This week's would-be settlement announcement between Randgold & Exploration (R&E) and JCI conceals an explosive battle over hundreds of millions of rands worth of listed stock in Simmer & Jack (JSE:SIM), in turn the controlling shareholder of another listed stock, First Uranium.

The story is rooted in the creation in 2005 of Jaganda, a black economic empowerment (BEE) entity, by the late Brett Kebble, from his CEO positions at R&E, and his flagship, JCI. As usual, he did not act alone.

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Posted by StaffWriter at July 23, 2008 7:31 AM