Central Asian oil and gas company Caspian Sunrise has completed its merger with Baverstock.
In a statement to the stock exchange, the company said that the final condition of the merger was satisfied this morning with the admittance to trading on AIM of 651,436,544 merger shares.
The company also announced the completion of the capitalisation of $10.1 million of the Vertom loan.
Under the terms of the agreement Caspian Sunrise issued 651,436,544 new shares to Baverstock, and a further 80,804,200 conversion shares were issued to Vertom under the conversion of a Vertom loan.
The Caspian Sunrise Group now owns 99% in its principal asset, BNG.