Termination of the Principal Agreement (8996C)
2011年3月14日 - 11:12PM
RNSを含む英国規制内ニュース (英語)
TIDMKZG
RNS Number : 8996C
KazakhGold Group Ltd
14 March 2011
For immediate release 14 March 2011
Termination of the Principal Agreement with AltynGroup
Kazakhstan LLP
Further 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.
As 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.
Enquiries:
KazakhGold Alexey V. Chernushkin, Director, Capital Markets and
IR +44 (0) 20 8528 1450
This information is provided by RNS
The company news service from the London Stock Exchange
END
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