Subscription for New Shares

 

TIDMTMAN 
 
RNS Number : 5230S 
Timan Oil & Gas Plc 
19 May 2009 
 

Timan Oil & Gas plc ("Timan" or the "Company") 
 
 
Subscription for New Shares 
 
 
Timan announces that on 18 May 2009 it entered into an agreement with Tadco 
Overseas Business Management Ltd ("Tadco") for the subscription by Tadco of 
8,400,000 new ordinary shares of 0.1p each in Timan ("Ordinary Shares") at a 
price of 8.13 pence per Ordinary Share to raise GBP682,920 gross proceeds (the 
"Subscription") to be used for general working capital purposes. The new 
Ordinary Shares represent approximately five per cent. of the existing issued 
ordinary share capital. 
 
 
The Subscription will be in three tranches, each of 2,800,000 new Ordinary 
Shares and conditional upon admission of the shares to trading on AIM 
("Admission").  Admission of the three tranches of shares is expected to occur 
on 22 May 2009, 29 May 2009 and 5 June 2009. On Admission, the new Ordinary 
Shares will rank pari passu with the existing issued ordinary shares. 
 
 
Tadco is a Jersey registered company beneficially owned by Mr Parvis Hakim-Rad. 
Following the completion of the Subscription (being the Admission of the third 
tranche of new Ordinary Shares) there will be 176,542,518 Ordinary Shares in 
issue and admitted to AIM.   The new Ordinary Shares issued as a result of the 
Subscription will represent 4.76 per cent. of the enlarged issued share capital. 
 
 
Enquiries: 
 
 
Timan Oil & Gas plc 
Alexander Kapalin, Chief Executive Officer 
Boris Litvak, Non-Executive Chairman 
[phone] 
 
 
Strand Partners Limited 
Rory Murphy/Simon Raggett 
+ 44 (0) 20 7409 3494 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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