RNS Number : 8782I
  Caspian Holdings plc
  25 November 2008
   

    Caspian Holdings Plc
    ("Caspian" or the "Company")
    25 November 2008

    Caspian Completes �50,000 Placement

    Caspian Holdings is pleased to announce it has completed a placement of 6,250,000 ordinary shares to Masterman Superannuation Fund
("MSF"), a pension fund associated with Michael Masterman of 0.1p per share at 0.8p per share to raise �50,000. The proceeds from the
placing will be used to finance the current working capital requirement of the Company.

    Application will be made for the new ordinary shares to be admitted to AIM which is expected to occur on 1 December 2008.

    Related Party Transaction

    Masterman Superannuation Fund, a company related to Michael Masterman, a director of Caspian, and of which Michael Masterman is a
beneficiary and trustee, will be issued 6,250,000 ordinary shares. The share issue to MSF is therefore classified as a related party
transaction for the purposes of the AIM Rules. Accordingly the Directors (other than Michael Masterman), having consulted with Grant
Thornton Corporate Finance (in its capacity as the Company's nominated adviser), confirm that they are satisfied that the terms of MSF's
participation in the placement are fair and reasonable insofar as the shareholders of the Company are concerned.  

    Following this transaction, Michael Masterman will be interested in 32,070,000 ordinary shares in the Company representing an interest
of 25.7% in the total voting rights of the Company. In addition, Michael Masterman is interested in 6,250,000 options over ordinary shares
in the Company as follows:

    Stock Options Held        Option Exercise Price            Expiry Date
    5,000,000                            �0.04                    31 December 2010
    1,250,000                            �0.03                    31 December 2010

    Following this placing, the Company will have 124,648,685 Ordinary Shares of 0.1p in issue.

    Enquiries:
    Caspian Holdings Plc               Grant Thornton Corporate Finance
    Michael Masterman                  Fiona Owen
    T: +44 (0) 7791 288381          T: +44 (0) 20 7383 5100
    www.caspianoil.co.uk 

    Hoodless Brennan         
    Luke Cairns        
    T: +44 (0) 20 7538 1166        



This information is provided by RNS
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