Pendragon Capital LLP

Crew Gold Corporation

Crew Gold Corporation

January 03, 2008 19:05 ET

Funds Managed by Pendragon Capital LLP Acquire Securities of Crew Gold Corporation

LONDON, ENGLAND--(Marketwire - Jan. 3, 2008) - Pendragon Capital LLP ("Pendragon") announces that on December 18, 2007, funds managed by Pendragon sold 20,000,000 common shares in the capital of Crew Gold Corporation ("Crew") through the facilities of the Toronto Stock Exchange resulting in securities owned by the funds representing approximately 13.23%.

As a result of this sale and other transactions carried out over the course of the month, as at December 31, 2007, funds managed by Pendragon own 24,595,417 common shares in the capital of Crew, and bonds convertible into 47,090,909 common shares of Crew. Assuming the conversion of only the debentures owned by the funds managed by Pendragon, the securities owned by the funds represent approximately 14.00% of Crew Gold's issued and outstanding shares.

Pendragon exercises control over the Crew securities in its capacity as investment manager of a number of funds, including the Pendragon (Master) Fund Ltd., the Pendragon (Convertibles) Fund Ltd., and the CASAM Pendragon Event Value Fund Ltd. The funds managed by Pendragon acquired the Crew securities for investment purposes only, and may acquire additional securities of Crew in the future.

Contact Information

  • Pendragon Capital LLP
    John Pennells
    44 207 907 8445