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Proposed cancellation of trading on AIM

8 Mar 2021 07:00

RNS Number : 4023R
Volga Gas PLC
08 March 2021
 

8 March 2021

Volga Gas plc

("Volga Gas", the "Company" or the "Group")

 

Notification pursuant to AIM Rule 41

 

Proposed cancellation of trading on AIM

 

Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia, notes the announcement on 05 March 2021 by GEM Capital Holdings ("GEM") that its recommended offer to acquire the entire issued and to be issued ordinary share capital of Volga Gas (the "Offer") has become unconditional in all respects.

 

GEM has now acquired, or agreed to acquire, Volga Gas Shares representing in excess of 75 per cent. of the voting rights of Volga Gas. Accordingly, at the request of GEM, and as set out in the Offer Document published on 14 December 2020, the Board has applied for the cancellation of admission to trading on AIM of Volga Gas Shares (the "Delisting").

 

Volga Gas confirms that it has agreed with AIM that the Delisting is expected to occur on 8 April 2021. Admission of the Volga Gas Shares to trading on AIM will be cancelled without the requirement for a resolution of shareholders approving such cancellation pursuant to Rule 41 of the AIM Rules.

 

It is anticipated that the cancellation of listing and trading on AIM will take effect on or shortly after 7.00 a.m. (London time) on 8 April 2021.

 

The Delisting will significantly reduce the liquidity and marketability of any Volga Gas Shares not acquired by Hanover Bidco and the Board therefore recommends those Volga Gas Shareholders who have not already accepted the Offer to accept the Offer as soon as possible. The procedure for acceptance of the Offer is set out in the Offer Document.

 

Capitalised terms used but not otherwise defined in this announcement have the meanings given to them in the Offer Document.

 

 

For further information, please contact:

 

Volga Gas plc

 

Andrey Zozulya, Chief Executive Officer

Vadim Son, Chief Financial Officer

Tony Alves, Investor Relations Consultant

+7 (903) 385 9889

+7 (905) 381 4377

+44 (0) 7824 884 342

 

 

S.P. Angel Corporate Finance LLP

+44 (0) 20 3470 0470

(Nominated Adviser and Broker)

 

Richard Morrison, Richard Hail, Adam Cowl

 

Auctus Advisors LLP

(Rule 3 Adviser to Volga Gas)

Jonathan Wright

 

 

+44 (0) 7711 627 449

Renaissance Capital - Financial Consultant Limited

(Financial Adviser to Volga Gas)

Sergey Sedov

 

 

+7 (916) 678 3214

+7 (499) 956 4060

FTI Consulting

+44 (0) 20 3727 1000

Alex Beagley, Fern Duncan

 

 

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Date   Source Headline
14th Apr 20217:00 amRNSCancellation of trading on AIM
14th Apr 20217:00 amRNSCancellation - Volga Gas PLC
23rd Mar 20213:44 pmRNSHolding(s) in Company
11th Mar 20214:21 pmRNSCommencement of Compulsory Acquisition Process
9th Mar 20217:47 amRNSHolding(s) in Company
8th Mar 20217:00 amRNSProposed cancellation of trading on AIM
5th Mar 20216:00 pmRNSVolga Gas
5th Mar 20217:01 amRNSAcceptance of Offer by Directors of Volga Gas PLC
5th Mar 20217:00 amRNSOffer Declared Unconditional In All Respects
12th Feb 20217:00 amRNSOffer Declared Unconditional as to Acceptances
2nd Feb 20217:00 amRNSAcceptance Levels and Extension of Offer
19th Jan 20217:00 amRNSAcceptance Levels and Extension of Offer
5th Jan 20219:53 amRNSPRODUCTION REPORT FOR DECEMBER 2020
5th Jan 20217:00 amRNSAcceptance Levels and Extension of Offer
14th Dec 20207:00 amRNSPosting of Offer Document
2nd Dec 20207:00 amRNSPRODUCTION REPORT FOR NOVEMBER 2020
18th Nov 20202:25 pmRNSForm 8 (OPD) - GEM Capital Holdings (CY) Ltd
16th Nov 20207:00 amRNSAll Cash Offer for Volga Gas plc
4th Nov 20207:00 amRNSPRODUCTION & DRILLING UPDATE REPORT FOR OCT 2020
6th Oct 20207:00 amRNSEXPLORATION DRILLING UPDATE
2nd Oct 20207:00 amRNSPRODUCTION & DRILLING UPDATE REPORT - SEPTEMBER 20
30th Sep 202010:57 amRNSResult of AGM
30th Sep 20207:00 amRNSINTERIM RESULTS
28th Sep 20207:00 amRNSUPDATE ON FORMAL SALE PROCESS
8th Sep 20207:00 amRNS2019 ANNUAL RESULTS AND NOTICE OF AGM
2nd Sep 20207:00 amRNSPRODUCTION & DRILLING UPDATE REPORT FOR AUGUST 20
14th Aug 20207:00 amRNSOIL DRILLING UPDATE
7th Aug 20207:00 amRNSPRODUCTION & DRILLING UPDATE REPORT FOR JULY 2020
3rd Jul 20207:00 amRNSPRODUCTION REPORT FOR JUNE 2020
26th Jun 20207:00 amRNSUPDATE ON FORMAL SALE PROCESS
2nd Jun 20207:00 amRNSPRODUCTION REPORT FOR MAY 2020
29th May 202011:05 amRNSSecond Price Monitoring Extn
29th May 202011:00 amRNSPrice Monitoring Extension
29th May 20207:00 amRNSDELAY IN PUBLICATION OF 2019 ANNUAL REPORT
18th May 20202:00 pmRNSPrice Monitoring Extension
11th May 20207:00 amRNSSTATEMENT RE SHARE PRICE MOVEMENT AND FSP
4th May 20204:16 pmRNSPRODUCTION REPORT FOR APRIL 2020
20th Apr 20204:41 pmRNSSecond Price Monitoring Extn
20th Apr 20204:36 pmRNSPrice Monitoring Extension
17th Apr 20204:25 pmRNSForm 8.3 – Nicholas Mathys – Volga Gas plc
17th Apr 20204:25 pmRNSForm 8.3 - Genesis Development Holdings Co Ltd
17th Apr 20201:06 pmRNSForm 8 (OPD) Volga Gas PLC - Replacement
17th Apr 20208:04 amRNSForm 8 (OPD) Volga Gas PLC
14th Apr 20202:37 pmRNSPRODUCTION REPORT FOR MARCH 2020 - Replacement
9th Apr 20203:26 pmRNSHolding(s) in Company
7th Apr 20207:00 amRNSPreliminary Results
7th Apr 20207:00 amRNSStrategic Review including Formal Sale Process
2nd Apr 20207:00 amRNSPRODUCTION REPORT FOR MARCH 2020
20th Mar 20207:00 amRNSDirectorate Changes
10th Mar 20202:05 pmRNSSecond Price Monitoring Extn

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