CASPIAN MINERALS PLC
SUSPENSION PENDING MAJOR ACQUISITIONS
AND RE-ADMISSION TO PLUS
Caspian Minerals Plc ("Caspian" or "the Company) has requested the suspension of
trading in the Company's GDRs with immediate effect.
The Company has completed, following all necessary consents having now been
received, the acquisition of substantial interests in onshore Russian oil and
gas companies. The consideration for these transactions is materially in excess
of the Company's current capitalisation and will be treated by PLUS as a reverse
takeover.
The Company will as soon as possible send an explanatory circular to the holders
of the GDRs containing all information reasonably required to carry out an
informed assessment of the financial position and prospects of the Company as
enlarged by the acquisitions and proposed fundraising. All holders of the GDRs,
representing 100% of the issued share capital, have irrevocably agreed to
support such acquisitions.
The enlarged Company intends to make an application for re-admission to PLUS.
The Directors of the Company accept responsibility for the contents of this
announcement.
CONTACT
Alessandro Manghi + 7 727 244 6888
alessandro@manghi.com
David Sinclair + 44 208 455 0011
Axiom Capital Limited david.sinclair@axiomcapital.co.uk