29 Jun 2011 15:00
Oxus Gold plc
29 June 2011
Suspension of trading on AIM
As announced on 7 June 2011 Oxus Gold plc ("Oxus" or "the Company") has experienced difficulties in finalising its results for the year ended 31 December 2010. These difficulties have arisen as a result of the inability to access the relevant information relating to the Company's 50% owned joint venture Amantayau Goldfields ("AGF").
Oxus will publish the annual report and accounts for the year ended 31 December 2010 as soon as practicable.
As Oxus will be unable to publish its annual report and accounts for the year ended 31 December 2010 within six months of its financial year end, as required under the AIM Rules for Companies, trading in the ordinary shares of Oxus would be automatically suspended with effect from 1 July 2011. To enable the Board to address questions from shareholders which are likely to arise at the Annual General Meeting of the Company to be held at 11.00 a.m. on 30 June 2011, the Company requested that trading in the ordinary shares of Oxus be suspended with effect from 3.00 p.m. on 29 June 2011.
Trading in the ordinary shares of the Company will be restored when the Company is in a position to publish the annual report and accounts for the year ended 31 December 2010.
The Board believes, despite the current circumstances, that the Company has sufficient cash resources to continue meeting corporate costs, including those associated with any potential arbitration proceedings relating to AGF, for the foreseeable future.
Notwithstanding the suspension of trading in the ordinary shares of Oxus, the Company will continue to make announcements as and when there are any developments that require announcement under the AIM Rules for Companies.
For further information, please contact:
Oxus Gold Plc
Tel: +44 (0) 207 907 2000
Richard Shead
Fairfax I.S. PLC
Tel: +44 (0) 207 598 5368
Ewan Leggat / Laura Littley