21st Mar 2006 11:03
Caspian Holdings plc21 March 2006 Caspian Holdings Plc ("Caspian" or "The Company") 21 March 2006 Placing Caspian Holdings announces that it has raised approximately £1,890,000 beforeexpenses by way of a placing of 7,000,000 new Ordinary Shares of 0.1 pence eachat 27 pence per share ("Placing") which have been placed with Harbinger CapitalPartners Master Fund I Ltd. The shares are due to be admitted to trading on AIMon or around 27 March 2006. The issue is at a premium to the closing price of 20March 2006 and a 35% premium to the placement that the company made on 10February 2006. Use of Proceeds The proceeds of the Placing will be used to finance and expand the drillingprogramme as well as complete seismic work on the Zhegeldy Oil Field and forgeneral working capital. Significant Shareholder Following the Placing, Harbinger Capital Partners Master Fund I, Ltd has anotifiable interest of 7,000,000 ordinary shares (7.09%) in the issued sharecapital of the Company. Enquiries: Caspian Holdings Plc Grant Thornton Corporate FinanceMichael Masterman Fiona OwenT: +44 (0) 7791 288381 T: +44 (0) 870 991 2318 Hoodless Brennan Parkgreen CommunicationsLuke Cairns Justine Howarth / Ana RibeiroT: +44 (0) 20 7538 1166 T: +44 (0) 20 7493 3713 www.caspianoil.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WRES.L