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VGAS Volga Gas Plc

23.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Volga Gas Plc LSE:VGAS London Ordinary Share GB00B1VN4809 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 23.50 22.00 25.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Volga Gas PLC Proposed cancellation of trading on AIM (4023R)

08/03/2021 7:00am

UK Regulatory


Volga Gas (LSE:VGAS)
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TIDMVGAS

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 
                                               +7 (903) 385 9889 
 Andrey Zozulya, Chief Executive Officer        +7 (905) 381 4377 
  Vadim Son, Chief Financial Officer            +44 (0) 7824 884 
  Tony Alves, Investor Relations Consultant     342 
 
                                               +44 (0) 20 3470 
 S.P. Angel Corporate Finance LLP               0470 
 (Nominated Adviser and Broker) 
 Richard Morrison, Richard Hail, Adam Cowl 
 Auctus Advisors LLP 
  (Rule 3 Adviser to Volga Gas)                 +44 (0) 7711 627 
  Jonathan Wright                                449 
 Renaissance Capital - Financial Consultant 
  Limited 
  (Financial Adviser to Volga Gas)              +7 (916) 678 3214 
  Sergey Sedov                                   +7 (499) 956 4060 
                                               +44 (0) 20 3727 
 FTI Consulting                                 1000 
 A lex Beagley , Fern Duncan 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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(END) Dow Jones Newswires

March 08, 2021 02:00 ET (07:00 GMT)

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