- Russia-focused Trans-Siberian Gold said it had signed a new relationship agreement with major shareholder UFG Asset Management

The total shareholding of UFG, its connected entities and individuals in the company's issued share capital was about 75%.

UFG was a Russia-dedicated Western multi-asset investment manager, established in 1996.

Terms of the new agreement included a pledge that dealings between Trans-Siberian Gold and UFG were conducted at arm's length and on normal commercial terms.

UFG had also agreed not to undertake any activity in conflict with those of Trans-Siberian Gold which may render the company incapable of carrying on its business independently.

At 8:25am: [LON:TSG] TransSiberian Gold PLC share price was +0.5p at 69.5p

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