Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Randgold & Exploration Rises on Shareholder Payments

Oct. 12 (Bloomberg) -- Randgold & Exploration Co., managed by mining magnate Brett Kebble before he was murdered, rose the most since resuming trading in Johannesburg after announcing plans to make 310 million rand ($45 million) of payments and distributions to shareholders.

The stock gained 85 cents, or 15 percent, to 6.70 rand by the 5 p.m. close, valuing the Sandown, South Africa-based company at 501 million rand. The shares resumed trading on June 4 after a five-year suspension.

“The company’s current asset base is in excess of its medium-term operational requirements,” Randgold said today in a statement. “It is therefore an opportune time to release further value to the shareholders.”

Randgold & Exploration’s shares were suspended on Aug. 1, 2005, after $268 million worth of stock it held in a then-related company, Randgold Resources Plc, went missing. Kebble quit as chief executive officer on Aug. 30 that year after being charged with fraud and was shot in his car near his house in Johannesburg a month after that.

Over the past five years, Randgold & Exploration recovered some of the assets it claims were misappropriated. Current assets consist of about 260 million rand in cash, 2.27 million Gold Fields Ltd. shares and prospecting rights. The company is no longer related to Randgold Resources.

To contact the reporter on this story: Carli Lourens in Johannesburg at

To contact the editor responsible for this story: Amanda Jordan at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.