Orogen Gold Regulatory News (ORE)

21 Dec 2007 07:01

Aricom PLC21 December 2007 Press Release 21 December 2007 Aricom plc ("Aricom" or "the Company" or "the Group")Total Voting Rights and Shareholder Approval Process for Garinskoye Transaction Aricom plc (LSE: ORE, OREW), the Anglo-Russian developer of mineral resources,today announces that 42,750,000 Ordinary Shares have been admitted to listing onthe Official List and to trading on the main market of the London StockExchange. In conformity with the Transparency Directive, Aricom plc is required to notifythe market of the following: As a result of the issue of 42,750,000 shares, the Company's issued sharecapital consists of 1,119,069,960 ordinary shares with a nominal value of £0.001each, each share conveying the right to one vote. Aricom Plc does not hold anyordinary shares in Treasury. Therefore, the total number of voting rights in Aricom Plc is 1,119,069,960. The above figure of 1,119,069,960 shares may be used by shareholders as thedenominator for the calculations by which they will determine if they arerequired to notify their interest in, or a change to their interest in, AricomPlc under the Financial Service Authority's Disclosure and Transparency Rules. Shareholder Approval Process Further to the announcement of 13th December 2007 regarding the proposedincrease of the Group's interest in Garinskoye ("the Transaction") it has beendetermined that the Transaction will be subject to shareholder approval. It isexpected that a circular will be sent to shareholders in the New Year and theirapproval of the Transaction will be sought. Accordingly the Transaction willnot complete until such shareholder approval is received and considerationpayable to the vendors will not be issued until shareholder approval isreceived. Following entry into the sale and purchase agreement, with Olis (the "SPA")under a separate agreement, another member of the Aricom Group (Aricom TreasuryLimited) agreed to advance (subject to certain conditions) a secured loan of upto US$65 million to Olis on normal commercial terms. The entry into the loanwas not a condition of entering into the SPA or its completion. The loan willremain outstanding until 30th June 2008 (subject to early repayment provisionswhich include completion of the SPA). - Ends - For further information:Aricom plc Jay Hambro, Chief Executive Tel: +44 (0) 20 7201 8939 Heather Williams, Company Secretary www.aricom.plc.uk 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