21st Feb 2005 07:01
Eurogold Limited21 February 2005 EUROGOLD L I M I T E D (ACN 009 070 384) OXUS GOLD TO BECOME SUBSTANTIAL SHAREHOLDER 21 February 2005 ASX and AIM Code "EUG" Eurogold Limited ("Eurogold") has become aware that Oxus Gold plc ("Oxus")announced on Friday 18 February 2005 that it has agreed to acquire 30 millionshares in Eurogold from RAB Capital and associates. The full text of the Oxusannouncement is as follows: Oxus Gold to acquire shares in Eurogold LimitedLONDON: 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." The directors of Eurogold are awaiting a substantial shareholder notice fromOxus. PETER GUNZBURGExecutive Chairman This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Oxus Gold Plc