KazakhGold Group Ltd
02 July 2007
July 2, 2007
KAZAKHGOLD CHAIRMAN WELCOMES NEW SHAREHOLDERS
KazakhGold Group Limited (LSE: KZG) today sees its shareholder base increase as
a result of the acquisition of certain assets from Oxus Gold PLC (LSE:OXS),
first announced in April this year. Consideration for this transaction was the
issue to Oxus of 3,541,666 new ordinary shares in KazakhGold.
Oxus has converted the KazakhGold shares into GDRs and is distributing them to
its shareholders as a dividend today for settlement within the CREST system on
July 6. This will add approximately 1200 new shareholders to the KazakhGold
register.
Welcoming these new shareholders to the company today, executive chairman of
KazakhGold, Dr Kanat Assaubayev, said: 'The new shareholders are coming on board
at an exciting time for the company as it enjoys a strong gold price and a
positive outlook for the industry. The new arrivals can join existing
shareholders in looking forward to an exciting future.
'KazakhGold is the country's leading gold producer, with long-life mines and
substantial ore reserves. It is currently implementing an extensive expansion
programme that will raise gold production, increase efficiency and reduce
operating costs.
'At the same time, the company continues to evaluate a number of other gold
projects within Kazakhstan, as well as those in Romania and Kyrgyzstan acquired
from Oxus. We believe these will make an important contribution to our stated
ambition of becoming Central Asia's leading gold producer.'
Further Information:
Aidar Assaubayev
Kazakhgold Group Limited
Tel: +7 3272509264
Ron Marshman/John Greenhalgh
City of London PR Limited
Tel: +44 2076285518
This information is provided by RNS
The company news service from the London Stock Exchange