CAN Central A.G.

 

TIDMCAN 
 
RNS Number : 0450N 
Central African Gold PLC 
10 February 2009 
 

Central African Gold Plc / Ticker: CAN / Market: AIM / Sub-sector: Gold Mining 
10 February 2009 
Central African Gold Plc ("CAG" or "the Company") 
Statement re agreement with Investec Bank Limited 
 
 
CAG, the AIM traded gold mining and exploration company, is today pleased to 
announce, subsequent to the announcement made on 14 January 2009, that on 6 
February 2009 it entered into a legally binding agreement (the "Agreement") with 
Investec Bank Limited ("Investec Bank") to cap any further liability to Investec 
Bank at $5.0 million. This follows the default in January 2009, by Central 
African Gold Ghana ("CAG Ghana"), a then 100 per cent. owned subsidiary of CAG, 
on the Investec Bank loan facility and the subsequent transfer of 100 per cent. 
of the issued share capital in CAG Ghana, the owner of the Bibiani gold mine, to 
Investec Bank, on 14 January 2009. 
 
 
Accordingly, as part of the Agreement, CAG has undertaken to pay Investec Bank 
US$5.0 million within six weeks of the signing of the Agreement. 
 
 
CAG intends that the funds required to make the payment, together with 
sufficient short term working capital to secure the Company's remaining 
operations (in Mali and Zimbabwe) will be raised via an Open Offer to 
shareholders (the "Open Offer"). 
 
 
A further announcement with regard to the Open Offer will be made in due course. 
 
 
All capitalised terms in this announcement have the same meaning as those 
defined in the announcement made on 14 January 2009. 
 
 
For further information please visit www.centralafricangold.com or contact: 
 
 
+------------------+--------------------------------+---------------------------+ 
| Roy Pitchford /  | Central African Gold Plc       | Tel: +44(0)77 9390 9985   | 
| Craig Campbell   |                                | Tel: +27(0)11 676 2500    | 
|                  |                                |                           | 
+------------------+--------------------------------+---------------------------+ 
| Stuart Faulkner  | Strand Partners Limited        | Tel: +44(0)20 7409 3494   | 
| /                |                                |                           | 
| James Spinney    |                                |                           | 
|                  |                                |                           | 
+------------------+--------------------------------+---------------------------+ 
| Martin Eales     | RBC Capital Markets            | Tel: +44(0)20 7029 7881   | 
|                  |                                |                           | 
+------------------+--------------------------------+---------------------------+ 
| Hugo de Salis /  | St Brides Media and Finance    | Tel: +44(0)20 7236 1177   | 
| Felicity Edwards | Ltd                            |                           | 
|                  |                                |                           | 
+------------------+--------------------------------+---------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 AGRUKOBRKORURAR 
 

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