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CQS Rig Finance Fund Ltd (RIG)

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Wednesday 02 December, 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  |       20/11/2009       |
| which the threshold is crossed           |                        |
| or reached if different) (v):            |                        |
|------------------------------------------+------------------------|
| 6. Date on which issuer notified:        |       02/12/2009       |
|------------------------------------------+------------------------|
| 7. Threshold(s) that is/are crossed or   | Was 18.04%, Now 13.94% |
| 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        |17,574,670 |17,574,670|13,574,670| N/A  |13,574,670| N/A  | 13.94% |
|----------------------------+-----------+----------+----------+------+----------+------+--------|
|                            |           |          |          |      |          |      |        |
|----------------------------+-----------+----------+----------+------+----------+------+--------|
|                            |           |          |          |      |          |      |        |
+------------------------------------------------------------------------------------------------+


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 |
|-------------------------+--------------------|
| 13,574,670              | 13.94%             |
+----------------------------------------------+


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


+-------------------------------------------------------------------+
| Cf Midas Growth Fund                                       Bank   |
| of New York Nominees Ltd a/c 392512                   4,404,170   |
| CF Midas Income Fund                                      Bank of |
| New York Nominees Ltd a/c 392513                   4,600,000      |
| Midas Income & Growth Trust                          State Street |
| Nominees Ltd a/c XCE3                                 1,429,280   |
| Segregated Account                                           Bank |
| of New York Nominees Ltd a/c 156547                   418,920     |
| Core Diversified Fund                                             |
| Barfield Nominees Ltd a/c 23381                                   |
|                 2,722,300                                         |
| CF Miton Cautious Income Portfolio                Bank of New     |
| York Nominees Ltd a/c 392199                   0                  |
| CF Miton Global Growth Portfolio                    Bank of New   |
| York Nominees Ltd a/c 392211                   0                  |
|                                                                   |
|                                                                   |
+-------------------------------------------------------------------+



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

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