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
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| 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 | |
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| 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 |
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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:
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| 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 |
| |
| |
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| 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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