Extension of Option

1 Feb 2008 11:10

Oxus Gold PLC01 February 2008 OXUS GOLD PLC Extension of Option LONDON: 1 February 2008 - Further to the announcement made on 4 January 2008,Oxus Gold plc ("Oxus" or the "Company") (OXS.L) announces that on 30 January2008 it was notified by RAB Special Situations (Master) Fund Limited ("RAB")that RAB had agreed to extend the balance of the option granted to Zeromax GmbH("Zeromax") to acquire up to 46,750,707 ordinary shares in the Company from RABat a total consideration of 80 pence per share. The option is exercisable inwhole or in part at any time until 29 February 2008 and extendable until 31March 2008. On 31 December 2007 Zeromax purchased 5,503,646 ordinary shares at a totalconsideration of 80 pence per share from RAB pursuant to the option. Zeromaxcurrently holds 62,503,646 ordinary shares in the Company, representing 17.00per cent of the current outstanding share capital. Should Zeromax exercise thebalance of the option in full, Zeromax's shareholding in the Company wouldincrease to 109,254,353 shares, representing 29.71% per cent of the Company'scurrent outstanding share capital of 367,687,460 ordinary shares of 1p each. Contacts: Oxus Gold plcRichard Wilkins Tel: +44 (0)20 7907 2000 Canaccord Adams LimitedMike JonesErin Needra Tel: +44 (0)20 7050 6500 Bankside Consultants LimitedKeith Irons Tel: +44 (0)20 7367 8873Oliver Winters This information is provided by RNS The company news service from the London Stock Exchange