Orogen Gold Regulatory News (ORE)

23 Jul 2007 09:00

Aricom PLC23 July 2007 Press Release 23 July 2007 Aricom plc ("Aricom" or "the Company") Directors' dealings Aricom plc (AIM: TIO), the Anglo-Russian developer of mineral resources, todayannounces that it has been notified today of the following transactions: Peter Hambro, a Director of the Company, has today made two gifts of 190,000Aricom shares of £0.001 each, totalling 380,000 shares, to his nephew EricHambro and his niece Maya Hambro and one charitable gift of 176,459 shares toThe Royal Hospital, Chelsea appeal. The number of shares gifted by Peter Hambrois equivalent to 0.06% of the issued share capital of the Company. Theremaining holding of Peter Hambro and his associates, subject to the completionof the Kimkanskoye and Sutarskoye ("K&S") transaction is set out in the tablebelow. Pavel Maslovskiy, Chairman, and his associates ("PM") have today made a gift of1,000,000 Aricom shares of £0.001 each, equivalent to 0.11% of the issued sharecapital of the Company, to another member of the senior management team. Pavel Maslovskiy, Chairman, and his associates have sold today, to a long termRussian investor, 20,512,363 ordinary shares of £0.001 each in Aricom PLCequivalent to 2.19% of the issued share capital of the Company at a price of£0.7159 per share, a premium of 19.32 % to the closing price of Aricom's shareson 19 July 2007. Following the completion of the K&S acquisition (see below)they will own 92,779,094 shares representing 8.76% of the issued share capital. Following completion of the above transactions, the holdings of Peter Hambro andPavel Maslovskiy and associates, subject to completion of the K&S acquisitionwill be as follows: Number of shares held % of issued share capitalPeter Hambro and associates 30,710,496 3.28Pavel Maslovskiy and associates 30,887,860 3.30 -Continued- K&S acquisition completion and subsequent shareholding As previously announced on 5 April 2007, Aricom has exercised its option toacquire from Philotus Holdings Ltd ("Philotus") all the shares of the companywhich holds the remaining 50% of the K&S project. Under the terms of Aricom'sexisting option agreement the option exercise consideration will comprise theissue of 123,782,467 new Aricom shares to Philotus, conditional on receipt ofthe approval of the Russian Federal Anti-Monopoly Service. Following thisallotment and as a result of their interest in Philotus, the holdings of PeterHambro and Pavel Maslovskiy and associates will be as follows: Number of shares held % of issued share capitalPeter Hambro and associates 92,601,729 8.74Pavel Maslovskiy and associates 92,779,094 8.76 Pavel Maslovskiy, Chairman, said: "My sale of shares has been carried out in order to achieve a better balance inmy family's and my portfolio of investments and to facilitate further non mininginvestment in Russia. My 8.76% interest in Aricom, following the K&Stransaction (see below) demonstrates my commitment to the future success ofAricom. " - Ends - For further information:Aricom plcJay Hambro, Chief Executive Tel: +44 (0) 20 7201 8939Heather Williams, Company Secretary www.aricom.plc.uk Canaccord AdamsChris Bowman Tel: +44 (0) 20 7050 6500 www.canaccordadams.com AbchurchCharlie Jack/ George Parker Tel: +44 (0) 20 7398 7700 www.abchurch-group.com This information is provided by RNS The company news service from the London Stock Exchange