Caspian Holdings Plc
10�Feb�2006
Placing of New Ordinary Shares
Caspian Holdings Plc ("the Company") today announced that it has raised approximately �1,414,000 before expenses by way of a placing of 7,207,000 new Ordinary Shares of 0.1 pence each at 20 pence per share ("the Placing") which have been placed with institutions and other investors. The shares are due to be admitted to trading on AIM on 16 February 2006.
Use of Proceeds
The Company has undertaken the Placing to enable the Company to finance its new drilling program and some initial seismic work as announced by it on 10 February 2006 and for additional working capital.
Source: Caspian Holdings Plc announcement
Kerman & Co LLP, led by Michael Bennett and assisted by Chris Jones, advised Caspian Holdings Plc on the Placing.
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