LONDON, August 15, 2003 (PRIMEZONE) -- Following the announcement by Randgold Resources Limited ("Randgold Resources") (LSE:RRS) (Nasdaq:GOLD) on Friday, August 8 that it had submitted an indicative merger proposal to Ashanti Goldfields Company Limited ("Ashanti"), Randgold Resources is pleased to note the announcement made today by the Government of Ghana, the text of which is reproduced below:
"Following the proposals presented to it in May for a merger between Ashanti Goldfields Ltd. and Anglo Gold Ltd. of South Africa, the Government of Ghana has also received indicative proposals for a merger with Randgold Resources Limited, a gold mining company based in Jersey, UK.
As previously announced, the Government has appointed a consortium led by Societe Generale to act as advisers to the Government in its capacity as a (16.9 per cent.) shareholder in Ashanti, holder of the golden share in Ashanti, and regulator of the mining industry in Ghana, and to assist the Government in arriving at a decision on the future of Ashanti Goldfields Ltd.
The Government intends to reach a decision on this matter once it has had the opportunity to consider fully, in conjunction with its advisers, both proposals and any others that may be received. In coming to its decision, the Government will be guided solely by what it considers to be in the best interests of Ghana and its people, and of Ashanti Goldfields Ltd. as a major transnational mining enterprise with its roots in Ghana.
HON. NANA AKOMEA (MP)
MINISTER OF INFORMATION"
HSBC Bank plc, which is regulated in the United Kingdom by the Financial Services Authority, is acting for Randgold Resources Limited, and no-one else in connection with the matters referred to in this document and will not be responsible to any person other than Randgold Resources Limited for providing the protections afforded to customers of HSBC Bank plc, or for advising any such person on the contents of this announcement or any transaction referred to in this announcement.
This information is provided by RNS The company news service from the London Stock Exchange