18th Mar 2014 13:19
LONDON (Alliance News) - Oxus Gold PLC Tuesday said Sturgeon Central Asia Fund has converted USD1.0 million of loan notes into shares, which according to Chairman Richard Shead strengthens the company's finances.
Sturgeon Capital Limited is an independent investment manager focused on the Central Asian markets since 2006. It manages three dedicated Central Asia investment funds, including the Sturgeon Central Asia Balanced Fund Ltd, the Sturgeon Central Asia Fund and the Sturgeon Central Asia Equities Fund.
Oxus said about 5.2 million shares have been issued to Sturgeon Central Asia Fund at 12 pence a share.
In addition, about 1.9 million shares have been issued to Sturgeon Central Asia Fund at 2.72 pence each, in lieu of certain interest payments due in relation to the loan notes.
An application has been made for the 7.1 million new shares to be admitted to trading on AIM. Dealings are expected to begin on March 21.
Oxus Gold shares were Tuesday quoted at 2.35 pence, up 1.1%.
By Samuel Agini; [email protected]; @samuelagini
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