Business
Termination of the Principal Agreement
Termination of the Principal Agreement.
About this update from Kazera Global Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 8996C KazakhGold Group Ltd 14 March 2011 \n \n\n\n\n\n\nFor immediate release\n\n\n14 March 2011\n\n\n\n\n \nTermination of the Principal Agreement\nwith AltynGroup Kazakhstan LLP\nFurther to the announcement made on December 8, 2010, KazakhGold Group Limited (\"KazakhGold\") hereby announces that it has terminated the Principal Agreement with AltynGroup Kazakhstan LLP (\"AltynGroup\") dated December 8, 2010 (the \"Principal Agreement\") as the first tranche completion was not achieved by the first tranche cut-off date, being three and a half months from 23 November 2010 (11 March 2011). KazakhGold notes that AltynGroup did not manage to raise the required financing prior to the first tranche cut-off date. \nAs a result of the termination of the Principal Agreement, including its exclusivity provisions, the Board of Directors intends to explore other opportunities with respect to the sale of the company's assets in Kazakhstan. Further, even though the transaction envisaged by the Principal Agreement will not proceed, KazakhGold remains in discussions with the Assaubayev family.\n \nEnquiries:\nKazakhGoldAlexey V. Chernushkin, Director, Capital Markets and IR +44 (0) 20 8528 1450\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END AGRMMGMFDDMGMZM\n\n \n ","length":3005,"tagName":"div"}]