Aurum Mining PLC
04 March 2008
Embargoed for release at 7.30 a.m. 4 March 2008
AURUM MINING PLC
('Aurum' or 'the Company')
Andash Mining Company
Aurum announces that it has received notification that its wholly owned
subsidiary, Andash Mining Company, has today been named as third party to a
civil case to be heard in the Bishkek Inter-District Court ('the Court') in the
Republic of Kyrgyzstan.
It is understood that the civil case has been brought against Marsa Gold LLC, a
company controlled by Oleg Kim, a former employee and founder of Andash Mining
Company. The case concerns a historical transaction involving the transfer of a
number of assets (of which the Andash asset is one) prior to Aurum's acquisition
of Andash Mining Company in January 2005.
As a result of the civil proceedings the Court has ordered a temporary cessation
of any further financial transactions within all named third parties, including
Andash Mining Company. Andash Mining Company will be lodging an appeal against
the temporary cessation.
In the light of the lack of clarity surrounding the situation, trading has been
suspended in the Company's shares with immediate effect.
A further announcement will be made in due course.
For further information:
Aurum Mining plc Tel: 020 7478 9050
Mark Jones, Chief Executive Officer
Chris Eadie, Chief Financial Officer
Arbuthnot Securities Tel: 020 7012 2000
James Steel
John Toll
This information is provided by RNS
The company news service from the London Stock Exchange