Update re return of assets & timing of audit
25 September 2009 - 3:00PM
UK Regulatory
TIDMTMAN
RNS Number : 6931Z
Timan Oil & Gas Plc
25 September 2009
TIMAN OIL AND GAS PLC
("Timan" or the "Company")
Update regarding the return of assets and the timing of the audit
Further to the announcement of 1 September 2009, the board of Timan (the
"Board") announces that discussions are continuing with Kamanisk Holdings
("Kamanisk") to ensure the return of the Company's former subsidiaries (the
"Subsidiaries") to the Company. Whilst both the Company and Kamanisk are in
agreement that the Subsidiaries should be returned, discussions are focussing on
the best way of achieving this from both a legal and commercial perspective.
The Board is also advancing plans to audit the December 2008 annual report and
accounts (the "Audit") and review the June 2009 interim results (the "Review").
Whilst no timing plan has been finalised, the Board is mindful of the need to
expedite the Audit and the Review.
Further announcements will be made in due course.
Enquiries:
Timan Oil & Gas plc
Vitaly Belik, Non-Executive Director
Dmitry Soloviev, Non-Executive Director
+7 495 287 32 78
Strand Partners Limited
Simon Raggett/Rory Murphy
+ 44 (0) 20 7409 3494
This information is provided by RNS
The company news service from the London Stock Exchange
END
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