19 Jun 2009 16:21
For immediate release 19 June 2009
Volga Gas plc
(the "Company")
Posting of Circular to Shareholders
In accordance with the AIM Rules for Companies, the Company's circular to shareholders relating to a conditional placing of 27,000,000 new ordinary shares of 1 penny each, at a price of US$1.00 or 61.4 pence per share, to raise US$27 million (£16.6 million) before expenses, which includes a notice convening a general meeting of the Company to be held at 10.00 a.m. on 6 July 2009 at the offices of Akin Gump LLP, Eighth Floor, Ten Bishops Square, London E1 6EG, has today been put on the Company's website at www.volgasgas.com and mailed to shareholders.
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For further 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 | Renaissance Capital |
| Nominated Adviser, Joint Broker and Joint Bookrunner | Joint Broker and Joint Bookrunner |
| 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 |