11th May 2007 07:01
Oxus Gold PLC11 May 2007 news release For immediate release: 11 May 2007 OXUS GOLD PLC Oxus completes transaction with KazakhGold LONDON: 11 May 2007 - Following its announcement on 26 April 2007, Oxus Gold plc("Oxus" or the "Company") (OXS.L) is pleased to announce that it has completedthe transaction with KazakhGold Group Limited ("KazakhGold") (KZG.L) for thesale of Norox Mining Company Limited, 50% of the issued share capital ofRomaltyn Limited and the right to an option relating to the Karakilise copperdeposit licence in Turkey from Oxus Resources Corporation, a wholly ownedsubsidiary of Oxus. The 25% interest in Hatay Madencilik SA has not beenacquired by KazakhGold. As a result, Oxus has been issued with 3,541,666 new ordinary shares inKazakhGold (currently valued at approximately $75 million) ("KazakhGold Shares"). Oxus has now begun the process of converting these non-trading KazakhGoldShares into tradeable global depository receipts ("GDRs"). KazakhGold GDRstrade on the London Stock Exchange, with one GDR representing one share. Oncethis process has been completed, as previously announced, Oxus intends todistribute all or a large portion of the KazakhGold GDRs by way of a dividend,and further details will be announced to shareholders in due course. For thoseOxus shareholders who may be prohibited from receiving the GDRs due to USsecurities legislation, it is intended that a cash alternative will be offered. END Contacts: Oxus Gold plcRichard Wilkins Tel: +44 (0)20 7907 2000website: www.Oxusgold.co.uk Canaccord Adams LimitedMike Jones Tel: +44 (0) 7050 6755Erin Needra Bankside Consultants Ltd.Keith Irons Tel: +44 (0)20 7367 8873Oliver Winters This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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