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UPDATE 1-Kyrgyzstan may sue Centerra Gold over stake dilution

Published 2016-02-04, 08:32 a/m
© Reuters. UPDATE 1-Kyrgyzstan may sue Centerra Gold over stake dilution
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BISHKEK, Feb 4 (Reuters) - Kyrgyzstan may sue Canada's
Centerra Gold CG.TO over its plans to issue additional shares,
which will dilute the Central Asian nation's stake slightly, a
Kyrgyz representative on Centerra's board said on Thursday.
"Our goal is to protect Kyrgyzstan's stake," said board
member Kylychbek Shakirov.
Separately, a spokeswoman for state-owned firm Kyrgyzaltyn,
which holds the stake on behalf of the government, said it was
working on an agreement with a foreign law firm which would
tackle the matter.
Kyrgyz officials said in December that a planned issue of
shares by Centerra would reduce Kyrgyzstan's stake in the
company to 32.1 pecent from 32.7 percent.
Kyrgyzstan and Centerra are engaged in a separate,
long-running dispute over Kumtor, the country's biggest gold
mine which Centerra operates.

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