- Volga Gas directors, holding 92% of the company, have now accepted the takeover bid by GEM Capital.

Each of the directors of Volga Gas who currently hold or control Volga Gas Shares have decided to accept the Offer in respect of their own beneficial holdings.

The offer has now become wholly unconditional, with the directors of Volga urging all remaining shareholders to accept this deal.

Under the terms of the Offer, Volga Gas shareholders are entitled to receive, for each Volga Gas Share held, 23.71 pence in cash.

GEM Capital has stated this offer remain open for the next 14 days.

At 1:36pm: [LON:VGAS] Volga Gas PLC share price was 0p at 24.5p

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