Court Sanction of Scheme

China Nonferrous Gold

30/07/2013 12:56

Court Sanction of Scheme

      Kryso Resources

      30 July 2013

      Kryso Resources Plc

      (??Kryso? or the ??Company?)

      AIM: KYS

      COURT SANCTION OF SCHEME OF ARRANGEMENT AND COURT CONFIRMATION OF       REDUCTION OF CAPITAL

      Kryso Resources Plc (AIM: KYS), the mineral exploration and development       company currently developing the Pakrut gold project in the Republic of       Tajikistan (??Existing Kryso?), is pleased to announce that the Court has       today sanctioned the proposed scheme of arrangement between Existing       Kryso and its shareholders under Part 26 of the Companies Act 2006, and       the Court has confirmed the associated reduction of capital.

      Capitalised terms used but not defined in this announcement have the       meaning given to them in the circular despatched to shareholders of       Existing Kryso on 8 May 2013.

      The Court Order has today been delivered to the Registrar of Companies       and the Scheme has become Effective. New Kryso has therefore become the       ultimate holding company of the Kryso Group.

      The Kryso Group will have the same business       and operations as the Kryso Group had before the Scheme Effective Date.       The Proposals will not result in any immediate changes in the day-to-day       operations of the       business of the Group or its strategy.

      Under the Scheme, holders of Existing Kryso Ordinary Shares (at the       Scheme Record Time) will have their shares cancelled in consideration       for which they will receive ordinary shares in New Kryso, on a       one-for-one basis.

      It is expected that the cancellation of Existing Kryso Ordinary Shares       from AIM, the admission of New Kryso Ordinary Shares to AIM, the       crediting of New Kryso Ordinary Shares in uncertificated form to CREST       accounts (in the form of Depositary Interests) and the commencement of       dealings in New Kryso Ordinary Shares on AIM will each occur on 31 July       2013.

      For further information please visit the Company??s website (www.kryso.com)       or contact:

      Kryso Resources Plc

      Craig Brown, Managing Director

      Tel: +44 (0) 20 7349 9160

      Investec Bank Plc

      Jeremy Ellis, Chris Sim, George Price

      Tel: +44 (0)20 7597 5970

      XCAP Securities Plc

      Jon Belliss, Guy Peters

      Tel: +44 (0) 207 101 7070

      Blythe Weigh Communications

      Paul Weigh, Tim Blythe, Halimah Hussain

      Tel: +44 (0)20 7138 3204

      About the Pakrut Gold Project

      The Pakrut gold project, of which Kryso has 100 per cent ownership, is       situated in Tajikistan approximately 12km northeast of the capital city       Dushanbe. Pakrut has estimated total JORC compliant resources of       4,720,000 oz Au (assuming a cut-off grade of 0.5 g/t Au) and is located       within the Tien Shan gold belt, which extends from Uzbekistan into       Tajikistan, Kyrgyzstan and Western China, and which hosts a number of       multi-million ounce gold deposits.

      About Tajikistan

      Tajikistan is a secular republic located in Central Asia. The country is       a member of the Commonwealth of Independent States and the Shanghai       Cooperation Organisation. Tajikistan hosts numerous operating precious       metal mines as well as the largest aluminium smelter in Central Asia.       Kryso's management team has extensive experience in the mining industry       in Tajikistan.