Randgold Resources (GOLD) sharehoders; now RANGY=6.4%
SHAREHOLDER AUDIT SHOWS REGISTER QUALITY AND SPREAD
2005-02-08
London, 8 February 2005 (LSE:RRS) (Nasdaq:GOLD) - A global shareholder identification exercise conducted by the research group Ilios in December has highlighted Randgold Resources’ success in building a broad and diversified investor base. Key findings of the analysis, which covered 100% of the company’s total shares in issue (as at 31 December 2004), include:
* There are 121 institutional investors who account for 57.68% of the shares in issue.
* The US retail ADR and brokerage market holds 30.37% of the shares.
* Of the top 20 institutions, 12 are based in the US, five in the UK, two in Canada and one in Switzerland.
* Overall US ownership (institutional and retail investors) amounts to 56.61%.
* Merrill Lynch UK is now the company’s single largest shareholder, with 6.89% of the issued shares.
* Randgold & Exploration’s holding has been reduced to 6.74%.
* Toronto-based Mackenzie Financial is the top North American investor with 4.83%, followed by two New York-based institutions, Van Eck Associates (4.1%) and Tocqueville Asset Management (2.44%).
* The investment style of the company’s major shareholders is categorised as “value-orientated.”
Chief executive Dr Mark Bristow said the Ilios audit had provided the company with an accurate and objective analysis of its share register. “It clearly reflects the effort we have put into marketing Randgold Resources, and the resonance our message has found with highly discriminating investors,” he said.
BUILDING A SUPPORTIVE SHAREHOLDER BASE THROUGH EFFECTIVE INVESTOR RELATIONS
In the course of 2004, Randgold Resources chief executive Mark Bristow held more than 200 investor meetings in 15 cities in eight countries on three continents at the head of the intensive investor relations campaign that has been a hallmark of the company’s management style since its inception 10 years ago.
“In those early days, under the shadow of the Bre-X scandal and a collapsing gold price, we had to introduce Randgold Resources to a market that was distinctly unenthusiastic about gold in general and fledgling exploration companies in particular. But we persisted, with what one analyst described at the time as missionary zeal,” recalls Bristow.
“Since then, we’ve made a point of communicating openly and regularly with the market in the bad times as well as the good, through our results presentations, roadshows, facility visits, teleconferences and participation in industry conferences, as well as through comprehensive annual and quarterly reports.”
“We’ve always shared our strategies with the market, we’ve kept shareholders fully informed about our plans and our performance, and when there have been problems or issues, we’ve addressed them proactively and candidly. In the process I think our management team has gained a reputation for credibility which has been a great help in building a strong and supportive shareholder base.”
Randgold Resources’ communications programme also includes a substantial media component, and the company was recently named communicator of the year for 2004 by the authoritative Mining Journal.
AI
