EGM

1 Jun 2007 13:08

Oxus Gold PLC01 June 2007 news release For immediate release: Friday, 1 June 2007 OXUS GOLD PLC Distribution by Oxus of its holding of KazakhGold GDRs LONDON: 1 June 2007 - Oxus Gold Plc, ("Oxus" or "the Company") (OXS.L) has todaymailed a circular to convene an extraordinary general meeting of the Company("EGM") at 11.00 am on Wednesday, 20 June 2007, for the purpose of seekingshareholder approval for the distribution to shareholders of a dividend inspecie of KazakhGold Group Limited ("KazakhGold") global depositary receipts("GDRs") held by Oxus. On 12 March 2007 Oxus announced that it had agreed in principle to sell toKazakhGold its Kyrgyz, Romanian and certain Turkish assets in consideration ofthe issue to Oxus of 3,541,666 new KazakhGold shares. The transaction wascompleted on 10 May 2007. The KazakhGold shares received by Oxus, which are not trading on any exchange,have been converted into KazakhGold GDRs, on the basis of one share being equalto one GDR, and these have been admitted to the Official List and to trading onthe main market of the London Stock Exchange. Conditional on shareholder approval Oxus will distribute the KazakhGold GDRs toshareholders on the basis of one GDR for every 110 Oxus shares held at therecord date of Friday, 22 June 2007. Fractional entitlements arising fromindividual holdings of Oxus shares which are not exactly divisible by 110 willbe aggregated and retained by Oxus for the benefit of all shareholders. The KazakhGold GDRs can only be held electronically and Oxus shareholders whocurrently hold their Oxus shares in certificated form will need to arrange forthe GDRs to be held in a CREST account before distribution to them can be made.Full details of the arrangements they will need to make are included with thecircular sent to shareholders. A KazakhGold GDR is a bank certificate issued by the Bank of New York whichrepresents one KazakhGold share. At close of business on Wednesday, 30 May 2007,the mid-market price of each KazakhGold GDR on the London Stock Exchange wasUS$20.40, equivalent to £10.33 based on the dollar/sterling exchange rate onthat day, and equal to 9.39p per Oxus share. The EGM will be held at the offices of the Company, 105 Piccadilly, London, W1. ENDContacts: Oxus Gold plcRichard Wilkins: Tel: +44 (0)20 7907 2000website: www.Oxusgold.co.uk Canaccord Adams LimitedMike Jones Tel: +44 (0)20 7050 6755Erin Needra Bankside Consultants Ltd.Keith Irons Tel: +44 (0)20 7367 8873Oliver Winters This information is provided by RNS The company news service from the London Stock Exchange