Oxus Gold Plc Regulatory News (OXS)

10 Dec 2007 07:01

Oxus Gold PLC10 December 2007 news release For immediate release: 10 December 2007 OXUS GOLD PLC Zeromax Option to Acquire Shares LONDON: 10 December 2007 - Oxus Gold plc ("Oxus" or the "Company") (OXS.L)announces that on 7 December 2007 it was notified by RAB Special Situations(Master) Fund Limited ("RAB") and Zeromax GmbH ("Zeromax") that on 6 December2007, Zeromax was granted an option by RAB to acquire up to 52,254,353 ordinaryshares in the Company from RAB at a total consideration of 80 pence per share,exercisable at any time until 18 December 2007 and extendable until 31 January2008. Zeromax currently holds 57,000,000 ordinary shares, representing 15.60 per cent.of the Company's current outstanding share capital. The option can be exercisedin whole or in part and should Zeromax exercise the option in full, Zeromax'sshareholding in the Company would increase to 109,254,353 shares, representing29.90 per cent. of the Company's current outstanding share capital of365,399,173 ordinary shares. Richard Wilkins, director of Oxus, commented on this development: "The strategicalliance with Zeromax is an integral part of our strategy going forward. We verymuch welcome this significant potential increase in Zeromax's shareholding inthe Company. The price per share which Zeromax has agreed to pay represents aclear vote of confidence in the positive and profitable future of the Company.We also look forward to the ongoing support of RAB Capital who will still remainone of our largest shareholders should this option be exercised by Zeromax." 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 8873/ 07885 356 639 Oliver Winters Tel: +44 (0)20 7367 8874/ 07811 168 822 This information is provided by RNS The company news service from the London Stock Exchange