Oxus Gold Plc Regulatory News (OXS)

3 Mar 2005 07:01

Oxus Gold PLC03 March 2005 news release For immediate release: 3 March 2005 Oxus Gold plc Oxus Loan Notes converted to equity LONDON: 3 March 2005 - Oxus Gold plc ("Oxus" or "the Company") is pleased toReport that more than 99.9% of the convertible loan notes, ("the Loan Notes")issued as part of the placing of 17,000 units completed on 30 November 2004 (the"Placing"), have now been converted to equity. As a result, Oxus has issued 33,970,000 new ordinary shares to holders of theLoan Notes. All of these shares were admitted to trading on AIM as part of theblock admission to AIM of 34,000,000 ordinary shares, which occurred on 17December 2004. Each unit comprised 1,600 new ordinary shares in the Company(resulting in 27,200,000 new ordinary shares), plus £1,000 of Loan Notes. EachLoan Note had a conversion deadline of 28 February 2005 Only one holder of the Loan Notes declined to convert, representing a total of£15,000, and consequently 30,000 ordinary shares were not issued. Followingconversion of the Loan Notes the total number of new ordinary shares issued as aresult of the Placing is 61,170,000 shares at 50p each, which has successfullyraised £30,585,000 (approximately US$58 million) gross. The total number ofshares in issue has increased to 286,928,836. The funds are primarily intendedto be used to complete the construction of the Jerooy gold mine in the KyrgyzRepublic. This is the final conversion with respect to the above-mentioned blockadmission. Ends Further enquiries Oxus Gold plcTel: + 44 (0)20 7907 2000Richard Wilkins, Company Secretary BanksideTel: + 44 (0)207 444 4155 /07885 356 639Keith Irons This information is provided by RNS The company news service from the London Stock Exchange