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CQS Rig Finance Fund Ltd (RIG)

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Thursday 18 June, 2009

CQS Rig Finance Fund Ltd

Holding(s) in Company





TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares
to which voting rights are attached (ii):

CQS Rig Finance Fund Ltd


+-------------------------------------------------------------------+
| 2. Reason for the notification                           | State  |
|                                                          | Yes/No |
|----------------------------------------------------------+--------|
| An acquisition or disposal of voting rights              |  Yes   |
|----------------------------------------------------------+--------|
| An acquisition or disposal of financial instruments      |   NO   |
| which may result in the                                  |        |
| acquisition of shares already issued to which voting     |        |
| rights are attached                                      |        |
|----------------------------------------------------------+--------|
| An event changing the breakdown of voting rights         |   NO   |
|----------------------------------------------------------+--------|
| Other (please specify): Incorrect data feed from data    |   No   |
| provider                                                 |        |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------+
| 3. Full name of person(s) subject to the |   Midas Capital Plc    |
| notification obligation (iii):           |                        |
|------------------------------------------+------------------------|
| 4. Full name of shareholder(s) (if       | (see section 9 below)  |
| different from 3.) (iv):                 |                        |
|------------------------------------------+------------------------|
| 5. Date of the transaction (and date on  |       12/06/2009       |
| which the threshold is crossed           |                        |
| or reached if different) (v):            |                        |
|------------------------------------------+------------------------|
| 6. Date on which issuer notified:        |       16/06/2009       |
|------------------------------------------+------------------------|
| 7. Threshold(s) that is/are crossed or   | Was 21.32%, Now 20.26% |
| reached:                                 |                        |
|------------------------------------------+------------------------|
| 8. Notified details:                     |          N/A           |
+-------------------------------------------------------------------+



A: Voting rights attached to shares


+------------------------------------------------------------------------------------------------+
|   Class/type of shares    |Situation previous to |  Resulting situation after the triggering   |
| if possible using the ISIN|    the Triggering    |              transaction (vii)              |
|           CODE            |   transaction (vi)   |                                             |
|---------------------------+----------------------+---------------------------------------------|
| Redeemable Participating  |  Number   |  Number  |  Number  | Number of voting |  % of voting  |
|        preference         |    of     |    of    |    of    |   rights (ix)    |    rights     |
|                           |  Shares   |  Voting  |  shares  |                  |               |
|                           |           |  Rights  |          |                  |               |
|                           |           |  (viii)  |          |                  |               |
|---------------------------+-----------+----------+----------+------------------+---------------|
|      Ordinary Shares      |           |          |  Direct  |Direct | Indirect |Direct|Indirect|
|                           |           |          |          |  (x)  |   (xi)   |      |        |
|---------------------------+-----------+----------+----------+-------+----------+------+--------|
|       GG00B1GVK032        |20,768,190 |20,768,190|19,733,730|  n/a  |19,733,730| n/a  | 20.26  |
|---------------------------+-----------+----------+----------+-------+----------+------+--------|
|                           |           |          |          |       |          |      |        |
|---------------------------+-----------+----------+----------+-------+----------+------+--------|
|                           |           |          |          |       |          |      |        |
+------------------------------------------------------------------------------------------------+


B: Financial Instruments

Resulting situation after the triggering transaction (xii)


+------------------------------------------------------------------------------+
| Type of  |Expiration |Exercise/Conversion |     Number of voting     | % of  |
|financial |date (xiii)| Period/ Date (xiv) |    rights that may be    |voting |
|instrument|           |                    |     acquired if  the     |rights |
|          |           |                    |        instrument        |       |
|          |           |                    |  is exercised/converted  |       |
|----------+-----------+--------------------+--------------------------+-------|
|   N/A    |    N/A    |        N/A         |           N/A            |  N/A  |
+------------------------------------------------------------------------------+



+----------------------------------------------+
| Total (A+B)             |                    |
|-------------------------+--------------------|
| Number of voting rights | % of voting rights |
|-------------------------+--------------------|
| 19,733,730              | 20.26%             |
+----------------------------------------------+


9. Chain of controlled undertakings through which the voting rights
and/or the financial instruments are effectively held, if applicable
(xv):

+-----------------------------------------------------------------------------------------------------+
|CF Midas Growth Fund                                                                                 |
|            4,404,170                                                                                |
|Bank of New York Nominees A/C 392512                                                                 |
|CF Midas Income Fund                                                                                 |
|            5,544,600                                                                                |
|Bank of New York Nominees A/C 392513                                                                 |
|Midas Income & Growth Trust                                                                          |
|1,429,280                                                                                            |
|State Street Nominees Ltd                                                                            |
|Segregated Account                                                                                   |
|                                                                        284,460                      |
|Roy Nominees Ltd a/c 570035                                                                          |
|Segregated Account                                                                                   |
|                                                            418,920                                  |
|Bank of New York Nominees Ltd a/c 156547                                                             |
|CF iimia Growth Fund                                                                                 |
|                                                                        405,000                      |
|HSBC Global Custody Nominee (UK) Ltd a/c 949182                                                      |
|CF Miton Global Portfolio                                                                            |
|            1,000,000                                                                                |
|Bank of New York Nominees Ltd a/c 392199                                                             |
|CF Miton Global                                                                                      |
|Portfolio                                                                                  3,000,000 |
|Bank of New York Nominees Ltd a/c 392199                                                             |
|iimia Investment Trust                                                                               |
|             525,000                                                                                 |
|Bank of New York Nominees Ltd a/c 392199                                                             |
|Core Diversified Fund                                                                                |
|                                        2,722,300                                                    |
|(Registered: Barfield Nominees Ltd A/C 23381)                                                        |
|CF Miton Arcturus                                                                                    |
|Funs                                                                                                0|
|Bank of New York Nominees Ltd a/c 392199                                                             |
+-----------------------------------------------------------------------------------------------------+


Proxy Voting:

+-------------------------------------------------------------------+
| 10. Name of the proxy holder:                               | N/A |
|-------------------------------------------------------------+-----|
| 11. Number of voting rights proxy holder will cease to      | N/A |
| hold:                                                       |     |
|-------------------------------------------------------------+-----|
| 12. Date on which proxy holder will cease to hold voting    | N/A |
| rights:                                                     |     |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------+
| 13. Additional        | Midas Capital Partners Ltd, Miton Asset   |
| information:          | Management Ltd and iimia Plc are all      |
|                       | subsidiaries of Midas Capital Plc         |
|-----------------------+-------------------------------------------|
| 14. Contact name:     | John Bradley                              |
|-----------------------+-------------------------------------------|
| 15. Contact telephone | 0151 906 2462                             |
| number:               |                                           |
+-------------------------------------------------------------------+

---END OF MESSAGE---




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