18th Feb 2005 16:47
Oxus Gold PLC18 February 2005 news release For immediate release: Friday, 18 February 2005 Oxus Gold to acquire shares in Eurogold Limited LONDON: 18 February 2005- Oxus Gold plc ("Oxus"), the UK gold mining group withinterests in Central Asia, is pleased to report that it has agreed to acquire 30million shares of Eurogold Limited ("Eurogold") from RAB Capital ("RAB") andAssociates at a price of 9 pence per share, representing approximately 17.2% ofthe issued capital of Eurogold. The total consideration of £2.7 million will besatisfied by the issue of 5 million new Oxus shares at 54p per share. Followingthe issue of these new shares, RAB's holding in the share capital of Oxus willbe 18,714,730 ordinary shares, representing approximately 7.1 per cent of theenlarged Oxus share capital. Application will be made in due course for the newshares in Oxus to be admitted to trading on AIM. Eurogold is an Australian company with gold exploration and mining operations inRomania and Ukraine. Its shares are traded both in Australia and in the UK onAIM. Bill Trew, CEO of Oxus Gold, said today: "We are very pleased to have acquired astrategic interest in Eurogold, whose operations have some synergy with those ofOxus. We will be working with the directors and management of Eurogold todevelop our association which we believe could have significant benefits to theshareholders of both companies." Ends. Contacts: Bill Trew, CEO Oxus Gold 020 7907 2000Keith Irons, Bankside 020 7444 4155/07885 356 639 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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