VGAS.L Regulatory News (VGAS)

25 May 2007 07:01

Volga Gas PLC25 May 2007 25 May, 2007 FOR IMMEDIATE RELEASE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, RUSSIA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR THE REPUBLIC OF IRELAND VOLGA GAS PLC OVER-ALLOTMENT OPTION EXERCISED Volga Gas Plc (the "Company"), an independent gas exploration and productioncompany, which currently holds three subsoil licences in the Volga region ofEuropean Russia, announces that, in connection with its placing of new ordinaryshares (the "Placing"), KBC Peel Hunt, as Stabilising Manager, has today givennotice that it is exercising the over-allotment option in respect of 1,666,667ordinary shares in the Company (the "Over-allotment Shares"). The Over-allotment Shares will be issued at the placing price of US$6 (approx£3) per Over-allotment Share (the "Placing Price"). Application has been made to the London Stock Exchange for the Over-allotmentShares to be admitted to trading on AIM. Admission is expected to be effectiveon 30 May 2007. Following the exercise and upon completion of the over-allotment option, theCompany will have a total of 53,492,664 ordinary shares in issue, with theOver-allotment Shares comprising 3.1% of such enlarged issued share capital ofthe Company. Unconditional trading in the Company's shares on AIM commenced at market openingon 25 April 2007. This announcement is for information purposes only and does not constitute aninvitation or offer to underwrite, subscribe for or otherwise acquire or disposeof any securities of the Company in any jurisdiction. This announcement is not an offer of securities for sale in or into the UnitedStates. The securities referred to above have not been, and will not be,registered under the United States Securities Act of 1933 and may not be offeredor sold in the United States absent registration or an available exemption fromregistration. There has not been and will not be a public offer of thesecurities in the United States. KBC Peel Hunt Ltd, which is authorised and regulated in the United Kingdom bythe Financial Services Authority, is acting exclusively for the Company andno-one else in connection with the Placing. It will not regard any other personas its clients in relation to the Placing and will not be responsible to anyoneother than the Company for providing the protections afforded to its client, norfor providing advice in relation to the Placing, the contents of thisannouncement or any transaction, arrangement or other matter referred to herein. This information is provided by RNS The company news service from the London Stock Exchange