Laxey Partners Ltd.

October 08, 2010 16:45 ET

Funds Managed by Laxey Partners Ltd. Sell Trust Units of CMP Gold Trust

TORONTO, ONTARIO--(Marketwire - Oct. 8, 2010) - Laxey Partners Ltd. ("Laxey") on behalf of LACMA Limited, LACV Limited, LPAlternative LP, LP Value Limited, Laxey Universal Value LP, Sprugos Investments XII, LLC and The Value Catalyst Fund Limited (collectively the "Funds") has sold through the facilities of the Toronto Stock Exchange 50,000 trust units of CMP Gold Trust ("CMP") at an average price of CDN$13.3067 per trust unit on October 5, 2010 and 43,000 trust units of CMP at an average price of CDN$13.1071 per trust unit on October 6, 2010. These 93,000 trust units sold represent in aggregate approximately 2.22% of the issued and outstanding trust units of CMP.

As a result of this transaction, Laxey on behalf of the Funds now holds 334,800 trust units representing approximately 8% of the total outstanding trust units of CMP. Laxey holds their trust units, on behalf of the Funds under its discretionary management, for investment purposes only and not with the purpose of influencing the control or direction of the CMP. These investments will be reviewed on a continuing basis and such holdings may be increased or decreased in the future.

Laxey has discretionary management on behalf of LACMA Limited, LACV Limited, LPAlternative LP, LP Value Limited, Laxey Universal Value LP, Sprugos Investments XII, LLC and The Value Catalyst Fund Limited with its principal office at 64 Athol Street, 4th Floor, Derby House, Douglas, Isle of Man IM1 1JD United Kingdom.

Contact Information

  • Laxey Partners Ltd.
    Mr. Michael Allison
    44 (0) 1624 690900