EXECUTION COPY
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INVESTMENT NUMBER 2429
SHARE SALE, ASSIGNMENT AND
ASSUMPTION AGREEMENT
BETWEEN
RANDGOLD RESOURCES (SOMISY) LIMITED
AND
INTERNATIONAL FINANCE CORPORATION
DATED JULY 12, 2002
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SHARE SALE, ASSIGNMENT AND
ASSUMPTION AGREEMENT
This SHARE SALE, ASSIGNMENT AND ASSUMPTION AGREEMENT (this
("Agreement") is entered into on July 12, 2002, between RANDGOLD RESOURCES
(SOMISY) LIMITED, a company organized and existing under the laws of the Jersey,
Channel Islands ("Purchaser") and INTERNATIONAL FINANCE CORPORATION ("IFC"), an
international organization established by Articles of Agreement among its member
countries.
ARTICLE I
SALE PROVISIONS
Section 1.01. On the terms and conditions of this Agreement, the
Purchaser agrees to buy, and the IFC agrees to sell, fifty (50) Class "C" shares
(the "Sale Shares"), each with a par value of 12,500 CFA Francs, in the capital
of Societe des Mines de Syama S.A, a company organized under the laws of the
Republic of Mali (the "Company"). The Purchaser shall pay IFC one Dollar
(US$1.00) for all of the Sale Shares ("Sale Proceeds"), in immediately available
funds, in the following account (the "Account"), as follows:
▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ & ▇▇▇▇▇ ▇▇., ▇▇▇▇▇▇
▇▇▇ #▇▇▇▇▇▇▇▇▇
Beneficiary Acct # (DDA) 34975607
FUND # C61V, IFC ESP
Reference: Somisy, # 2429 MLI- Sale of shares
Section 1.02. IFC makes no representation or warranty with respect to
the Company, including without limitation, with respect to the Company's legal
status, organization, management, operations, financial condition or business
prospects.
Section 1.03. (a) The Purchaser shall pay the Sale Proceeds to the IFC
on a date ("Closing Date") to be agreed but in any event before July 2, 2002.
(b) On the Closing Date, upon confirmation of receipt in the Account of
the Sale Proceeds in full, IFC shall with respect to the Sale Shares:
(i) deliver or cause to be delivered to the Purchaser the share
certificates representing the Sale Shares; and
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(ii) instruct its authorized representative to sign on its behalf and
deliver to the Purchaser instruments of transfer with respect to such Sale
Shares for registration by the Company in its transfer book and register of
shareholders, at the Purchaser's cost and expense.
ARTICLE II
ASSIGNMENT AND ASSUMPTION OF SHAREHOLDER LOANS
Section 2.01. (a) In consideration of the Purchaser's irrevocable
undertaking to pay to IFC the amount set forth in Section 1.01 (the receipt of
which IFC hereby acknowledges) and subject to the provisions of this Article II,
IFC hereby assigns and transfers to the Purchaser, without recourse, absolutely,
irrevocably and unconditionally, all of its rights, title and interest (whether
accruing after or before the date hereof) in and to an Investment Agreement,
between the Company and IFC, dated August 5, 1993 (the "Shareholder Loan
Agreement") including, but not limited to, all rights and causes of action in
respect of the Shareholder Loan Agreement (the "Assignment").
(b) The Purchaser irrevocably, unconditionally and absolutely accepts
the Assignment and assumes all of the transferable obligations of IFC and is
entitled to exercise all of the rights of IFC under the Shareholder Loan
Agreement.
(c) The Company hereby expressly acknowledges and irrevocably and
unconditionally accepts the Assignment in accordance with the terms and
conditions of this Agreement.
Section 2.02. The Assignment and the transfer of the rights and
obligations pursuant to Section 2.01(a) above shall become effective on the
Closing Date.
Section 2.03. On the Closing Date, IFC shall provide the Purchaser
with, and the Purchaser shall acknowledge receipt of, an original copy of each
of the Shareholder Loan Agreement.
Section 2.04. (a) The Company hereby acknowledges its notification of
the assignment and transfer rights under the Shareholder Loan Agreement pursuant
to the terms of this Agreement.
(b) The Purchaser undertakes that it shall also notify any other
relevant party, if any, of the assignment and transfer of rights under the
Shareholder Loan Agreement by notification in accordance with applicable law and
shall take any other action or measure necessary or required under the laws of
the Republic of Mali to give effect to the
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assignment and transfer of rights under this Agreement. Furthermore, the
Purchaser shall be responsible for carrying out, at its own expense, all legal
formalities which may be required in the Republic of Mali in connection with the
execution and implementation of this Agreement.
Section 2.05 IFC shall execute and provide such documents as may be
reasonably required by the Purchaser to give effect to the Assignment.
ARTICLE III
MISCELLANEOUS PROVISIONS
Section 3.01. The Purchaser shall pay all taxes (other than any taxes
on capital gains), duties, fees, or other charges payable on or in connection
with the execution, issue, delivery, registration or notarization of this
Agreement and any documents related thereto; and shall reimburse IFC for any
such taxes, duties, fees or other charges paid by IFC,other than legal fees
which shall be for each party's own account.
Section 3.02. Any notice or request required or permitted to be given
or made under this Agreement to either of the parties hereto shall be in
writing. Such notice or request shall be deemed to be duly given or made when it
shall be delivered by hand, airmail or facsimile to the party to which it is
addressed at such party's address specified below or at such other address as
such party shall have designated by notice to the party giving such notice or
making such request:
For the Purchaser:
Randgold Resources (Somisy) Limited
La Motte ▇▇▇▇▇▇▇▇
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Facsimile: (▇▇▇ ▇▇) ▇▇▇▇ ▇▇▇ ▇▇▇▇
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For IFC:
International Finance Corporation
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇.
▇▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇▇ of America
Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇
Attn: Director, Mining Department
Section 2.06. This Agreement is governed by, and shall be construed in
accordance with, the laws of England.
Section 3.07. This Agreement contains the entire agreement between the
IFC and the Purchaser and there are no other terms, obligations, covenants,
representations, statements, or conditions, oral or otherwise, of any kind or
nature whatsoever.
Section 3.08. This Agreement may be executed in several counterparts,
each of which is an original, but all of which together constitute one and the
same agreement.
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IN WITNESS WHEREOF, the parties hereto, acting through their duly
authorized representatives, have caused this Agreement to be executed as a deed,
as of the day and year first above written.
Executed as a deed
By RANDGOLD RESOURCES (SOMISY) LIMITED
By: /s/ D. ▇▇▇▇ ▇▇▇▇▇▇▇
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Name: D. ▇▇▇▇ ▇▇▇▇▇▇▇
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Title: Authorized Representative
Executed as a deed
By INTERNATIONAL FINANCE CORPORATION
By: /s/ Sebastien Thiriez
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Name: Sebastien Thiriez
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Title: Authorized Representative