UFG Shareholding

1 Feb 2008 08:18

Trans-Siberian Gold PLC01 February 2008 Trans-Siberian Gold plc UFG Asset Management shareholding London: 1 February 2008 - Trans-Siberian Gold plc ("TSG" or "the Company")(TSG.L) reports that it has been notified by UFG Asset Management ("UFG") that acompany associated with UFG has purchased 1,575,000 TSG ordinary shares at aprice of £0.28 per share. The acquisition by its associate, combined with itsexisting holding of 29.13% of the Company's shares, increases UFG's interest inTSG to 32.96%. The Company has been advised by its NOMAD Seymour Pierce that the Company is notsubject to The City Code on Takeovers and Mergers ("The Code") and that UFG hasno obligation under the Code to make a general offer for shares in TSG howeverUFG has also advised the Company that it is offering to purchase any number ofTSG shares from other shareholders at a price of £0.28 per share until 15 March2008. The directors other than those nominated by UFG note that this offer pricerepresents a substantial discount to UFG's own minimum valuation of TSG, asadvised to the Company in the third quarter of 2007, at a time when the goldprice was significantly lower. The directors other than those nominated by UFG advise TSG shareholders to takeno action pending clarification from UFG, whereafter the Company will make afurther announcement. Ends Contacts: TSGSimon Olsen +44 (0) 1223 265768 +44 (0) 7770 484965 Seymour PierceStuart Lane +44 (0) 20 7107 8000 BanksideKeith Irons +44 (0) 20 7367 8873Oliver Winters This information is provided by RNS The company news service from the London Stock Exchange