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19 Oct 2009 07:00
Trans-Siberian Gold plc
First drawdown of US$25 million Asacha loan facility
Appointment of new Chief Executive Officer
London: 19 October 2009 - Trans-Siberian Gold plc ("TSG" or "the Company") (TSG.L) reported on 30 September 2009 that an agreement had been signed with a Russian bank for a three year US$25 million loan facility for the Asacha project in Kamchatka, Far East Russia. TSG is pleased to report that the loan's outstanding conditions, including finalisation of security, have now been satisfied and that first drawdown of the facility has taken place.
The Company also reports that Oleg Bagirov, who has been TSG's Chief Executive Officer since September 2006 is stepping down from that position but will remain on the TSG board as a non-executive director. The Company is pleased to announce that Dmitry Khilov, currently TSG's Deputy Chief Executive Officer, has been appointed as Mr Bagirov's successor.
Mr Khilov, aged 51, was previously the Managing Director of the Private Equity Division of UFG Asset Management (a 51.6% shareholder in TSG) and became a non-executive director of the Company in July 2007.
Ends
Contacts:
TSG
Simon Olsen +44 (0) 1480 811871
Seymour Pierce
John Depasquale +44 (0) 207 107 8000
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