NGP Niche Grp.

TIDMNGP

RNS Number : 5325J

Niche Group (The) PLC

01 July 2011

1 July 2011

The Niche Group plc

("Niche" or "the Company")

Loan Draw down

Niche, the AIM listed investment company with interests in gas exploration and development activities onshore Turkey, is pleased to announce that Oman Resources Ltd ("Oman") has drawn down in full the GBP3.5m convertible loan entered into and announced on 21 April 2011.

Oman has drawn down the loan to enable it to meet the payment obligation in respect of its farm in agreement on Hatay Block 4394 and for general working capital purposes.

The Loan Agreement provides that the loan will convert either at Niche's option or automatically on the occurrence of certain specified events into a further 3.5% of Oman's share capital, resulting in a total shareholding of 35.7% in Oman following conversion of all convertible loans.

Enquiries:

The Niche Group plc

Nigel Little

Tel. +44 (0) 7900 888 810

M: Communications

Patrick d'Ancona or Ben Simons

Tel. +44 (0)20 7920 2340

Daniel Stewart & Co. Plc - Nominated Advisor and Joint Broker

Oliver Rigby

Tel. +44 (0)20 7776 6550

Canaccord Genuity - Joint Broker

Charles Berkeley / Henry Fitzgerald-O'Connor

Tel: +44 (0) 20 7050 6500

This information is provided by RNS

The company news service from the London Stock Exchange

END

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