Investment in Aurum Mining

22 Jul 2005 17:32

Ragusa Capital PLC22 July 2005 22 July 2005 Ragusa Capital plc ("Ragusa" or the "Company") Investment in Aurum Mining plc ("Aurum") The Board of Ragusa announces that, as a result of having recently been deemedby the Panel on Takeovers and Mergers (the "Panel") to be acting in concert withcertain other shareholders in Aurum (the Concert Party"), it has today sold atotal of 243,000 Aurum Shares in order to reduce the combined holding of theConcert Party in Aurum to less than 30% of Aurum's issued share capital asrequired by the Panel. Ragusa has incurred a loss on sale of approximately £70,470. In recognition oftheir collective responsibilities, the other members of the Concert Party haveagreed, in due course, to transfer sufficient of their Aurum Shares to Ragusa toreinstate its position. Ragusa's membership of the Concert Party failed to be identified at the timethat Ragusa invested in a placing of new ordinary shares in Aurum in February2005. Enquiries: Ragusa Capital plcLance O'Neill Tel: 020-7499-8334Nigel Duxbury Tel: 020-7499-8334 City Financial Associates Ltd Tel: 020-7090-7800Tony Rawlinson This information is provided by RNS The company news service from the London Stock Exchange