Gulf Keystone Petroleum Ltd. Response to Proposal from DNO ASA (7439F)
July 29 2016 - 12:02PM
UK Regulatory
TIDMGKP
RNS Number : 7439F
Gulf Keystone Petroleum Ltd.
29 July 2016
Not for release, publication or distribution, directly or
indirectly, in whole or in part in or into the United States or any
jurisdiction other than the United Kingdom and Bermuda where to do
so would constitute a contravention of the relevant laws or
regulations of such jurisdiction. This announcement (and the
information contained herein) does not contain or constitute an
offer to sell or the solicitation of an offer to purchase, nor
shall there be any sale of securities in any jurisdiction where
such offer, solicitation or sale would constitute a contravention
of the relevant laws or regulations of such jurisdiction.
29 July 2016
Gulf Keystone Petroleum Limited. (LSE: GKP)
("Gulf Keystone", "GKP" or "the Company")
Response to Proposal from DNO ASA
The Board of Gulf Keystone has reviewed DNO ASA's ("DNO")
proposal to acquire the total share capital of the Company, which
it received by letter late on 28 July 2016.
Gulf Keystone notes that DNO's proposal is conditional upon the
successful completion of the ongoing Balance Sheet Restructuring
Transaction ("the Restructuring"), announced by Gulf Keystone on 14
July 2016.
The Board has concluded that completion of the Restructuring
best serves our stakeholders and we will not engage in any
additional process that causes the Company to be distracted from
that objective. The Company has responded to DNO accordingly.
In light of the importance of the proposed Restructuring for all
stakeholders, the Board continues to strongly recommend that
shareholders vote in favour of the resolution to authorise the
increase in the Company's share capital, to be proposed at the
Special General Meeting ("SGM"), in order to implement the
Restructuring.
Shareholders should vote in advance of the SGM to be held on 5
August 2016. Detailed information on the Resolution and voting
deadlines can be found in the SGM Notice and Circular at:
http://www.gulfkeystone.com/investor-centre/shareholder-information/shareholder-communications/special-general-meeting-notice-and-circular
Enquiries:
Gulf Keystone Petroleum: +44 (0) 20 7514 1400
Anastasia Vvedenskaya, Head
of Investor Relations +44 (0) 20 7514 1411
Celicourt Communications: +44 (0)20 7520 9266
Mark Antelme
Jimmy Lea
or visit: www.gulfkeystone.com
Notes to Editors:
Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent
operator and producer in the Kurdistan Region of Iraq and the
operator of the Shaikan field with current production capacity of
40,000 barrels of oil per day.
Disclaimer
This announcement contains certain forward-looking statements.
These statements are made by the Company's Directors in good faith
based on the information available to them up to the time of their
approval of this announcement but such statements should be treated
with caution due to inherent uncertainties, including both economic
and business factors, underlying such forward-looking information.
This announcement has been prepared solely to provide additional
information to shareholders to assess the Group's strategies and
the potential for those strategies to succeed. This announcement
should not be relied on by any other party or for any other
purpose.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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