7th Jul 2009 08:01
7 July 2009
VOLGA GAS PLC
("Volga Gas" or "the Company")
Result of Placing - Dealings by Directors and Significant Shareholders
Volga Gas, the independent oil and gas exploration and production company operating in the Volga region of European Russia, announces that the following directors and significant shareholders, having participated in the Company's recent US$27 million (£16.6 million) (gross) placing of 27,000,000 new Ordinary Shares, have been allotted (directly or indirectly) new Ordinary Shares on 7 July 2009 at a price of US$1.00 (or 61.4 pence) per share as set out below and each of their resulting interests in the Enlarged Share Capital are also as set out below:
|
Directors |
New Ordinary Shares purchased |
New Shareholding |
% of Company |
|
Mikhail Ivanov |
258,350 |
1,000,000 |
1.23% |
|
Tony Alves |
25,000 |
25,000 |
0.03% |
|
Ron Freeman |
50,000 |
55,000 |
0.07% |
|
Stephen Ogden |
100,000 |
115,000 |
0.14% |
|
Significant shareholder |
New Ordinary Shares purchased |
New Shareholding |
% of Company |
|
Baring Vostok Private Equity Fund III |
10,000,000 |
39,620,000 |
48.90% |
|
Baring Vostok Private Equity Fund IV |
7,906,889 |
7,906,889 |
9.76% |
Following the Placing, Baring Vostok now holds an aggregate of 47,526,889 Ordinary Shares, representing 58.66% of the Enlarged Share Capital. The Company is awaiting confirmation of holdings by other significant shareholders that participated in the Placing and will make further announcements at the appropriate time.
The Shares will rank pari passu in all respects with the existing shares in issue.
Terms defined in the announcement issued by the Company on 18 June 2009 with RNS number 1027U have the same meaning in this announcement.
- Ends -
For additional information please contact:
|
Volga Gas plc |
Financial Dynamics |
|
Mikhail Ivanov, Chief Executive Officer |
Billy Clegg |
|
Tony Alves, Chief Financial Officer |
Ed Westropp |
|
Tel: +44 (0)20 8622 4451 |
Alex Beagley |
|
|
Tel: +44 (0)20 7831 3113 |
|
Oriel Securities Limited (NOMAD and Joint Broker) |
Renaissance Capital (Joint Broker) |
|
Richard Crawley |
Robert Hagon, Sales Trading |
|
Matthew Coakes |
Tel: +44 (0)20 7367 7713 |
|
Tel: +44 (0)20 7710 7600 |
Arie Kravtchin, Equity Capital Markets |
|
Tel: +7 495 783 5691 |
Related Shares:
VGAS.L