Central Asian Minerals and Resources PLC
LSE : CMRP

March 24, 2011 10:30 ET

Acquisition Update

                                                                                                  24 March 2011
                                                                                                   IM00B61FM981
                                                       
                                   Central Asian Minerals and Resources PLC
                                          ("CAMAR" or the "Company")
                                                       
                                              Acquisition Update
                                                       
On  14  October  2010, CAMAR announced that it was in discussions with Gulf International Minerals  Ltd  ("Gulf
Canada")  regarding the possible acquisition by CAMAR of Gulf Canada's 49 per cent. joint venture  interest  in
the  Aprelevka  gold  mine  in Tajikistan. The Directors of CAMAR are pleased to announce  that  the  Sale  and
Purchase  Agreement relating to the acquisition by the Company of Gulf Canada's wholly owned  subsidiary  which
owns the 49 per cent. joint venture interest in the Aprelevka gold mine  (the "Acquisition") has been signed by
CAMAR  and  Gulf Canada today. The consideration for the Acquisition is £2.3 million, which is expected  to  be
satisfied  by the issue of 4,188,087 new ordinary shares of no par value in the Company credited as fully  paid
at 55p per share.

Completion of the Acquisition, which constitutes a reverse takeover, is subject to the satisfaction of a number
of  conditions, including the approval of shareholders in CAMAR and Gulf Canada. A circular containing  further
information about the Acquisition and convening a meeting of CAMAR's shareholders to approve, inter  alia,  the
Acquisition, is expected to be posted to shareholders in CAMAR shortly. A further announcement will be made  at
that time.

The Directors of CAMAR are responsible for the content of this announcement.

Enquiries:

Central Asian Minerals and Resources PLC                                                  01624 679 000
Christine Melian or John Leech

St Helens Capital Partners LLP                                                            020 7368 6959
Mark Anwyl or Duncan Vasey


Contact Information

  • Central Asian Minerals and Resources PLC