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CQS Rig Finance Fund Ltd (RIG)

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Tuesday 25 August, 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 Limited



+-------------------------------------------------------------------+
| 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   |      19/08/2009       |
| which the threshold is crossed            |                       |
| or reached if different) (v):             |                       |
|-------------------------------------------+-----------------------|
| 6. Date on which issuer notified:         |      21/08/2009       |
|-------------------------------------------+-----------------------|
| 7. Threshold(s) that is/are crossed or    |        19.97%         |
| 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        |19,733,730 |19,733,730|19,449,270|  N/A  |19,449,270| N/A  | 19.97% |
+------------------------------------------------------------------------------------------------+






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 |
|-------------------------+--------------------|
| 19,449,270              | 19.97%             |
+----------------------------------------------+


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                                     |
|(Registered: Bank of New York Nominees A/C 392512)                                                |
|CF Midas Income Fund                                                                              |
|                                                                      5,544,600                   |
|(Registered: Bank of New York Nominees A/C 392513)                                                |
|Midas Income & Growth                                                                             |
|Trust                                                                          1,429,280          |
|(Registered: State Street Nominees Ltd A/C XCE3)                                                  |
|Segregated Account                                                                                |
|                                                                                  418,920         |
|(Registered: Bank of New York Nominees Ltd A/C 156547)                                            |
|CF iimia Growth Fund                                                                              |
|                                                                                     405,000      |
|(Registered: HSBC Global Custody Nominee (UK) Ltd A/C 949182)                                     |
|CF Miton Cautious Income                                                                          |
|Portfolio                                                                   1,000,000             |
|(Registered: Bank of New York Nominees Ltd A/C 392199)                                            |
|CF Miton Global Portfolio                                                                         |
|                        3,000,000                                                                 |
|(Registered: Bank of New York Nominees Ltd A/C 392211)                                            |
|iimia Investment                                                                                  |
|Trust                                                                                             |
|525,000                                                                                           |
|(Registered: Bank of New York Nominees Ltd A/C 178055)                                            |
|Core Diversified                                                                                  |
|Fund                                                                                              |
|2,722,300                                                                                         |
|(Registered: Barfield Nominees Ltd A/C 23381)                                                     |
|Segregated                                                                                        |
|Account                                                                                          0|
|(Roy Nominees Ltd A/C 570035)                                                                     |
+--------------------------------------------------------------------------------------------------+


Proxy Voting:

+-------------------------------------------------------------------+
| 10. Name of the proxy holder: | N/A                               |
|-------------------------------+-----------------------------------|
| 11. Number of voting rights   | N/A                               |
| proxy holder will cease to    |                                   |
| hold:                         |                                   |
|-------------------------------+-----------------------------------|
| 12. Date on which proxy       | N/A                               |
| holder will cease to hold     |                                   |
| voting rights:                |                                   |
|-------------------------------+-----------------------------------|
| 13. Additional information:   | Midas Capital Partners Ltd and    |
|                               | iimia Plc are all subsidiaries of |
|                               | Midas Capital Plc                 |
|-------------------------------+-----------------------------------|
| 14. Contact name:             | John Bradley                      |
|-------------------------------+-----------------------------------|
| 15. Contact telephone number: | 0151 906 2462                     |
+-------------------------------------------------------------------+

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