CASPIAN SUNRISE PLC

Pre-Annual General Meeting Information • Apr 5, 2022

National Storage Mechanism | Additional information

RNS Number : 1990H

Caspian Sunrise plc

05 April 2022

CASPIAN SUNRISE PLC

("Caspian Sunrise" or the "Company")

Proposed cancellation of the share premium account and

the deferred shares

The Board of Caspian Sunrise is pleased to announce that a circular convening a general meeting on 22 April 2022 will be posted to shareholders later today to seek approval to cancel the Company's share premium account and to cancel the deferred shares, which are steps required to allow the future payment of dividends.

A copy of the circular will be available at www.caspiansunrise.com

Under UK company law, a company is precluded from paying dividends, making other distributions to shareholders or buying back its own shares in the absence of distributable reserves.

If the proposed share premium cancellation and proposed deferred shares cancellation, are approved by shareholders at the general meeting, they will be subject to the scrutiny of, and confirmation by the High Court.

Following the implementation of the share premium cancellation and the deferred shares cancellation there would be no change in the nominal value of the Company's ordinary shares or the number of ordinary shares in issue. The share premium cancellation and the deferred shares cancellation themselves will not involve any distribution or repayment by the Company and will not reduce the underlying net assets of the Company.

EXPECTED TIMETABLE

Publication of the Circular and the Notice of General Meeting	5 April 2022
Latest time and date for receipt of Forms of Proxy	11.00 am 20 April 2022
General Meeting	11.00 am 22 April 2022
Expected date for the directions hearing from the High Court to consider the Company's claim for the Share Premium Cancellation and the Deferred Share Cancellation	27 May 2022
Expected date for the hearing for the High Court to confirm the Share Premium Cancellation and Deferred Share Cancellation	21 June 2022
Expected date that the Share Premium Cancellation and the Deferred Share Cancellation will become effective	Expected to be the business day following the Court order confirming the Share Premium Cancellation and Deferred Shares Cancellation

Notes:

1.      The times and dates are based on the Company's current expectations and are subject to change. The times and dates are indicative only and will depend, among other things, on the date on which the High Court of England and Wales confirms the share premium cancellation and the deferred shares cancellation. The provisional directions hearing date and final hearing date are subject to change and dependent upon the High Court.

2.      The timetable assumes that there is no adjournment of the general meeting. If the date scheduled for the General Meeting changes, the revised date and / or time will be notified to Shareholders by a further Shareholder letter.

3.         All times shown are London times unless otherwise stated.

Contacts

Caspian Sunrise PLC

Clive Carver

Executive Chairman                                                               +7 727 375 0202

WH Ireland, Nominated Adviser & Broker

James Joyce                                                                          +44 (0) 207 220 1666

Andrew de Andrade

This announcement has been posted to: www.caspiansunrise.com/investors

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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