OVG Ovoca Gold

 

TIDMOVG 
 
RNS Number : 1792M 
Ovoca Gold PLC 
23 January 2009 
 

Ovoca Gold plc Ovoca" or the "Company") 
 
 
Completion of disposal of CJSC Prospectors Artel Ayax 
 
 
Ovoca (London (OVG.L), Dublin (OVX.IR), Frankfurt (OVX.GR)) is pleased to 
announce that it has completed the disposal of 100% of CJSC "Artel of 
prospectors "Ayax" ("Ayaks"), as announced on 19 December 2008.  JSC "Polymetal 
("Polymetal") and a third party entity have now acquired 100% of the shares in 
CJSC "Artel of prospectors "Ayax" ("Ayaks") from a subsidiary of Ovoca Gold Plc 
for US$3,043,342 in cash and 7.5 million of Polymetal's common shares and a Deed 
of Novation and Assignment pursuant to which Polymetal conditionally acquired 
receivables of US$8,653,682.10 due from Ayax to Ovoca in exchange for a payment 
of US$8,653,682 by Polymetal to Ovoca (the "Transaction"). 
Further details on the Transaction can be found in regulatory announcements by 
the Company on 19 November 2008 and 19 December 2008. 
Ends 
 
 
For further information please contact: 
 
 
Leonid Skoptsov - Ovoca Gold plc 
Tel: +7 (0) 495 648 2646 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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