Caspian Holdings Completes GBP200,000 Placing >CSH.LN

14th Jun 2010 16:29

LONDON (Dow Jones)--Caspian Holdings PLC (CSH.LN), an oil and gas development company with assets in the U.S., said Monday it has completed a placement of 80 million ordinary shares at 0.25 pence per share to raise GBP200,000. MAIN FACTS: -60 million shares were placed to institutional investors, through the Company's broker HB Markets, and 20 million to Masterman Superannuation Fund, a pension fund related to Michael Masterman, a director of the company. -The net proceeds from the placing will be used to finance the current working capital requirements of the company. -Following the issue Michael Masterman will be interested in 161,694,010 Ordinary Shares in the Company representing an interest of 36.24% in the total voting rights of the Company. -Shares at 1530 GMT flat at 0.45 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires June 14, 2010 11:29 ET (15:29 GMT)