GLG Partners LP

February 01, 2010 14:19 ET

GLG Partners LP Sells Position in Crew Gold Corporation

LONDON, ENGLAND--(Marketwire - Feb. 1, 2010) - GLG Partners LP, together with its affiliates and associates (collectively, "GLG") is issuing this press release pursuant to the early warning requirements of applicable securities laws in Canada with respect to common shares (the "Common Shares") of Crew Gold Corporation (the "Issuer" or "Crew").

Pursuant to a market transaction announced on January 28, 2010, certain fund managed by GLG (the "GLG Funds") disposed of 666,279,714 Common Shares, representing approximately 31.16% of the Issuer's outstanding Common Shares at a price of NOK0.66 (Cdn$0.119394) per Common Share. The sale occurred through the facilities of the Oslo Børs.

Prior to the acquisition, the GLG Funds held an aggregate of 666,279,714 Common Shares of the Issuer. As a result of the market transaction, the GLG Funds have disposed of all their Common Share holdings of the Issuer and no longer own or have control of any of the Issuer's issued and outstanding Common Shares.

The Common Shares were sold in the ordinary course of GLG's investment activities. GLG has no current plan or proposal which relates to, or would result in acquiring ownership or control over additional securities of the Issuer. GLG may or may not purchase or sell securities of the Issuer in the future on the open market or in private transactions, depending on market conditions and other factors material to GLG's investment decisions.

For additional information, or for a copy of the early warning report filed in respect of the above transaction, please contact below.

Contact Information

  • GLG Partners LP
    Emmanuel Roman
    Chief Executive Officer
    +44 20 7016 7000
    1 Curzon Street
    London, England W1J 5HB