DIRECTORS' DEALINGS

RNS Number : 9329L

Centamin Egypt Limited

14 May 2010

 



 Immediate Release                                                                                              14 May 2010

Centamin Egypt Limited ("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

DIRECTORS' DEALINGS

Centamin Egypt Limited reports that it has today been notified that a total of 9,990,668 common shares in the Company have been sold by two corporate entities of which Mr Josef El-Raghy, Executive Chairman of Centamin, is a director and shareholder, at an average price of GBP 1.5560 per share. The shares were sold on market between 11 May and 13 May 2010 through the London Stock Exchange upon request of fellow director and shareholder in those entities, Mr Sami El-Raghy, who retired from his position with Centamin in December 2009 after 16 years of service.  

Following this transaction, Mr Josef El-Raghy has an interest in 69,195,086 common shares in the Company, representing approximately 6.76% of the total issued common shares. Mr Josef El-Raghy remains fully committed to Centamin Egypt Limited and expects no further reduction by any related entities that hold shares in the Company in the immediate or foreseeable future.

About Centamin Egypt Limited

Centamin is a mineral exploration, development and mining company that has been actively exploring in Egypt since 1995. The principal asset of Centamin is its interest in the Sukari Project, located in the Eastern Desert of Egypt.

Optimal design throughput at the Sukari Gold Project was achieved during December 2009. In January 2010, the Company announced that the Sukari Gold Project had achieved yet another important milestone with the commencement of gold exports to a nominated overseas gold refinery.  The Company remains on track for 2010 gold production of 200,000 ounces.

The Sukari Project is the first large-scale modern gold mine in Egypt. Centamin's operating experience in Egypt gives it a significant first-mover advantage in acquiring and developing other gold projects in the prospective Arabian-Nubian Shield.

For further information please see the Company's website -  www.centamin.com.

For Centamin Egypt Limited

Heidi Brown

Company Secretary

14 May 2010

For more information, please contact:

Centamin Egypt Limited  + 61 (8) 9316 2640  Josef El-Raghy / Heidi Brown  www.centamin.com

Buchanan Communications Limited + 44 (0) 20 7466 5000 Bobby Morse Katharine Sutton

 

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