Disclosure of Notifiable Inte

For filings with the FSA include the annex

For filings with issuer exclude the annex 

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

NEW CITY ENERGY LTD

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached 

No

An event changing the breakdown of voting rights

No

Other (please specify):______________

N/A

3. Full name of person(s) subject to notification obligation:

Midas Capital plc

4. Full name of shareholder(s) (if different from 3):

(see Section 9 below)

5. Date of transaction (and date on which the threshold is crossed or reached if different):

12th June 2008

6. Date on which issuer notified:

16th June 2008

7. Threshold(s) that is/are crossed or reached:

Over 10%

8: Notified Details N/A

A: Voting rights attached to shares

Class/type of shares

If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

 (viii)

Number of shares

 Direct

Number of voting rights

Percentage of voting rights

Direct

 (x)

Indirect

 (xi)

Direct

Indirect

Ordinary shares

JE00B2B0SY27

5,300,000

5,300,000

5,350,000

5,350,000

N/A

10.06%

N/A

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

N/A

N/A

N/A

N/A

N/A

Total (A+B)

Number of voting rights

Percentage of voting rights

5,350,000

10.06%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable (xv):

CF Midas Balanced Income Fund - 4,275,000

(registered: Bank of New York Nominees A/C 392513)

Chartwell Balanced Income - 350,000

(registered: HSBC Global Custody Nominee (UK) Ltd A/C 630426)

CF iimia Accelerated Fund - 500,000

(registered: Bank of New York Nominees Ltd A/C 391998)

CF iimia Growth Fund - 225,000

(registered: HSBC Global Custody Nominee (UK) Ltd A/C 949182)

Proxy Voting:

10. Name of proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

Iimia plc, Miton Asset Management Ltd and Midas Capital Partners Ltd are all subsidiaries of Midas Capital plc

14 Contact name:

Helen Craig

15. Contact telephone name:

01392 475972