CASPIAN MINERALS PLC
27 January 2009
TYPE OF ISSUE: INTRODUCTION
APPLICATION FOR ADMISSION TO PLUS
The directors of Caspian Minerals plc ("the Company") are pleased to announce
that the Company has applied for admission for its securities (GDRs) to be
traded on the PLUS - quoted market.
LISTING DETAILS
SECTOR CLASSIFICATION:Investment Company
PRINCIPAL ACTIVITIES: Investment in Resources in the CIS
CORPORATE ADVISER: Axiom Capital Ltd
ISSUE
Securities 100,000 Global Depository Receipts (GDRs, each
representing 10 ordinary shares)
Anticipated price of GDRs at AdmissionUS$ 10.00 (740 pence at an exchange rate
of $1.35)
Market cap at anticipated Admission PriceUS$ 1million (GBP740,000)
OVERVIEW
The Company was formed on 27 March 2008. It has been established as an
Investment Vehicle to invest in the acquisition of mining or oil production
processing facilities and resources. Whilst the initial focus will be on
opportunities in the CIS, the Directors will consider other geographic
territories.
The Directors have extensive business experience in the CIS and together with
their investment advisers will seek investment opportunities in the CIS.
The Company plans to make investments in the mining and oil and gas production
and processing facilities and resource sectors and that the investments may be
at different levels in the extraction, processing and distribution supply
chain. Financial [15% or less], significant minority [15% -50%] or controlling
[50% plus] up to 100% ownership will be considered on the merits and
availability of each investment.
Whilst investments, once made, will usually be long term, the Directors do not
preclude any opportunity for early sale of an investment for strategic or
commercial reasons.
Licences may have to be obtained for certain of the mining or oil and gas
resources extraction investments and these may be joint ventured with
government or other parties.
If any investments are significant in the development of the Company's
investment strategy it is possible that their acquisition will be regarded as a
reverse by PLUS. However substantive information will be provided to
shareholders and the market at the time of any investments being made by the
Company.
DIRECTORS
ALESSANDRO MANGHI - CHAIRMAN
Mr Manghi is Chairman of Kazakhstan Kagazy PLC (fully listed on the London
Stock Exchange since July 2007) has been a Director of companies within the
Kazakhstan Kagazy Group since 2005. Mr. Manghi has over twelve years of finance
and investment experience in Kazakhstan and other emerging markets. Prior to
joining our company, Mr. Manghi was the Chief Financial Officer of a London-
based insurance management group that was active in Central Asia, the Caucasus
and Eastern Europe. Between 1998 and 2001, Mr. Manghi was Senior Investment
Manager at EBRD Eagle Kazakhstan, where he held the positions of Chairman of
the Board of Directors of JSC Arna (part of Kazakhstan's largest private fixed-
line and satellite telecoms operator), Rainbow Paint JSC (a paint production
company), and Bauta LLP (a water desalination and packaging joint venture). Mr.
Manghi was also a member of the Board of Directors of Spectrum LLP. He has
several years of audit and transaction support experience with Price Waterhouse
and Barents Group. Mr. Manghi is a qualified Chartered Accountant and a member
of the Institute of Chartered Accountants in England and Wales. He will vary
his time commitment with the requirements of the business.
SHYNAR DIKHANBAYEVA - EXECUTIVE DIRECTOR
Ms Dikhanbayeva has served as Finance Director of Kazakhstan Kagazy JSC since
2001. Prior to that time, she was Finance Director at Seimar Investment Group,
a Kazakh investment company. Ms. Dikhanbayeva is a Certified Accountant and
member of the Kazakhstan Professional Accounting Association. She holds a
Bachelor's Degree from Kazakhstan State Management Academy. She will vary her
time commitment with the requirements of the business.
THOMAS JOHNSON - INDEPENDENT NON-EXECUTIVE DIRECTOR
Mr Johnson has also been an independent non-executive Director of Kazakhstan
Kagazy PLC since early 2007. He is a consultant with Denton Wilde Sapte, an
international law firm, and has been advising clients on Central Asian matters
since 1993, with a focus on banking and finance matters as well as real estate,
construction and electricity. Prior to moving to Almaty in 1993, Mr. Johnson
practised banking and finance law in New York and London. Mr. Johnson has a law
degree from Harvard Law School. He now resides in England.
SHAREHOLDERS:
Rysaffe Fiduciaires SARL as trustee of the CM I Trust and the CM II Trust and
David Sturt. Immediately prior to Admission, Rysaffe as trustee of the CM I
Trust and the CM II Trust will own 90 per cent (which is owned in equal
proportions) and David Sturt will own 10 per cent of the issued share capital.
* 45% of the Shares are held by Rysaffe, as trustee of the CM I Trust, a
Guernsey Trust settled by Maksat Arip for the benefit of him and his
family. Until recently he was a director and the chief executive officer
of Kazakhstan Kagazy PLC. He has been a director of Kazakhstan Kagazy JSC
since 2003. Mr. Arip was, between 2000 and 2003, the First Deputy to the
Director General of KazTransCom JSC. From 1999 to 2000, he served as the
Finance Director of Spectrum LLP. Mr. Arip has also held senior positions
with the Tumar Insurance Company and the Kyz-Zhibek Investment Fund. Mr.
Arip holds a Master of Business Administration from the International
Academy of Business in Almaty and a law degree from the Kunayev Humanities
University;
* 45% of the Shares are held by Rysaffe, as trustee of the CM II Trust a
Guernsey Trust settled by Baglan Zhunussov for the benefit of him and his
family. Until recently he was a director and the executive chairman of
Kazakhstan Kagazy PLC. He has been a director of Kazakhstan Kagazy JSC
since 2004. From 2003 to 2004, Mr. Zhunussov was the Managing Director of
Halyk Bank JSC. Prior to that time, from 2000 to 2003, he was President of
KazTransCom JSC, the telecoms arm of state-owned oil and gas firm
KazMunaiGaz. Mr. Zhunussov was the General Director of Spectrum LLP, a
Kazakh-American mobile communications joint venture and an EBRD investee
company, from 1996 to 2000. Mr. Zhunussov holds a Master of Business
Administration from the International Academy of Business in Almaty; and
* 10% of the Shares are held by David Sturt, who acts as an investment
adviser. David Sturt has over 20 years of international exploration and
production oil company experience having worked on projects in Europe,
Africa, the former Soviet Union and South East Asia. He previously held
the position of CEO, Kausar Oil and Gas where he was responsible for
building an exploration and production company with assets in the Komi and
West Siberian regions of Russia. Before joining Kausar he worked as
Director of G&G for PetroKazkahstan based in Kazakhstan. He has also
worked for Amerada Hess, Dragon Oil, Sun International and Conoco. Mr
Sturt holds a Masters Degree in Exploration Geophysics from Leeds
University and a BSc degree in Earth Sciences from Kingston Polytechnic.
RISK FACTORS
These are described in the Admission Document.
WARRANTS
The Company has issued 20,000,000 warrants for ordinary shares (equivalent to
2,000,000 GDRs) exercisable at US$1 per share (US$10 per GDR) for the period of
24 months from Admission.
GDRs
Full details as to the operation are in their Admission Document. Purchase and
sale of the GDRs will be through a PLUS Markets broker and can be held in
CREST.
ANTICIPATED ADMISSION DATE: 16 February 2009
For further information, please contact:
Caspian Minerals plc: Alessandro Manghi + 7 727 244 8787
Axiom Capital Ltd: David Sinclair 020 8455 0011
A copy of the Admission Document is available from Axiom Capital Ltd, Roman
House, 296 Golders Green Road, London, NW11 9PT, or at
enquiries@axiomcapital.co.uk
The Directors of Caspian Minerals plc take responsibility for this
announcement.
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