HomeGoldRandgold announces global offering

Randgold announces global offering

Underground development
at Yalea – one of
Randgold’s operating
gold mines
London, England — MININGREVIEW.COM — 30 July 2009 – International gold mining and exploration company Randgold Resources Limited has announced that a global offering of 5 million new ordinary shares in the form of ordinary shares or American Depositary Shares has been priced at £36.35 per ordinary share and US$59.50 per American Depositary Share. Each ADS represents one ordinary share of the company.

Revealing this in a statement here, the company confirmed that HSBC Bank plc was acting as the financial advisor, sole global coordinator, joint book runner and joint underwriter for the global offer. Merrill Lynch International was acting as the other joint book runner and joint underwriter.

Randgold has granted the underwriters an over-allotment option to purchase up to 750 000 additional ordinary shares in the form of new ordinary shares or American Depositary Shares to cover over-allotments, if any.

The company explained that it expected to use the net proceeds from the global offer to fund the feasibility studies for its Gounkoto and Massawa projects in Mali and Senegal respectively, to develop the two projects following approval by its board, and for other organic and corporate opportunities, including possible acquisitions.

In addition, if the company entered into a definitive agreement to acquire Moto Goldmines Limited and closed the transaction, some of the net proceeds of the global offer could be used to fund the development of Moto’s gold project in the Democratic Republic of the Congo (DRC).