Gulf Keystone Petroleum Ltd. Results of Consent Solicitation (5519J)
April 08 2015 - 2:00AM
UK Regulatory
TIDMGKP
RNS Number : 5519J
Gulf Keystone Petroleum Ltd.
08 April 2015
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.
8 April 2015
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone" or "the Company")
Results of Consent Solicitation
US$250 million 13.0 per cent. Guaranteed Notes due 2017
(Regulation S Notes: ISIN XS1056559245 / Common Code
105655924;
Rule 144A Notes: ISIN XS1056559088 / Common Code: 105655908)
(the "Notes")
Further to the Company's RNS of 2 April 2015, Gulf Keystone, the
operator of the world class Shaikan field in the Kurdistan Region
of Iraq, today announces that it has successfully completed the
consent solicitation to remove the book equity ratio covenant from
the Trust Deed constituting the Notes and from the Conditions
contained therein (the "Consent Solicitation").
Holders representing over 89% of the principal amount of Notes
outstanding participated in the Consent Solicitation, with over 99%
of votes cast in favour of the Proposed Amendments. The
Extraordinary Resolution was therefore duly passed at the
noteholder meeting which took place at 2.00 p.m. (London time) on 7
April 2015, and the Proposed Amendments have been implemented.
The Company will pay a consent fee of US$5.00 for each US$1,000
in principal amount of Notes to holders whose Consent was validly
delivered prior to 3.00 p.m. (London time) on 2 April 2015 and
accepted pursuant to the terms of the Consent Solicitation
Memorandum.
The complete terms and conditions of the Consent Solicitation
were described in the Consent Solicitation Memorandum dated 12
March 2015 issued by the Company, as supplemented by the
Supplements dated 24 March 2015 and 30 March 2015 (together, the
"Consent Solicitation Memorandum"). Capitalised terms have the
meanings assigned to them elsewhere in this release or in the
Consent Solicitation Memorandum, as applicable.
This RNS is for informational purposes only, and the Consent
Solicitation was made only pursuant to terms of the Consent
Solicitation Memorandum.
Enquiries:
Gulf Keystone Petroleum: +44 (0) 20 7514 1400
Sami Zouari, CFO
Anastasia Vvedenskaya, Head of Investor
Relations
Media Relations and Financial PR Adviser: +44 (0)20 7520 9266
Mark Antelme
or visit: www.gulfkeystone.com
Notes to Editors:
-- Gulf Keystone Petroleum Ltd. (LSE: GKP) is an independent oil
and gas exploration and production company with operations in the
Kurdistan Region of Iraq.
-- Gulf Keystone Petroleum International (GKPI) holds Production
Sharing Contracts for four exploration blocks in Kurdistan, the
Shaikan, Sheikh Adi, Ber Bahr and Akri-Bijeel blocks.
-- GKPI is the operator of the Shaikan Block, which is a major
commercial discovery, with a working interest of 75% and is
partnered with MOL Kalegran Limited (a 100% subsidiary of MOL
Hungarian Oil and Gas plc.) and Texas Keystone Inc., which have
working interests of 20% and 5% respectively.
-- Gulf Keystone plans to move into the large-scale phased
development of the Shaikan field targeting 100,000 bopd of
production capacity during Phase 1 of the Shaikan Field Development
Plan.
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 communication and the information contained herein is not
an offer of securities for sale in the United States. Securities
may not be offered or sold in the United States unless they are
registered or are exempt from registration. Any public offering of
securities to be made in the United States would be made by means
of a prospectus that would contain detailed information about the
company and its management, as well as financial statements. The
company does not intend to register any portion of this offering in
the United States or to conduct a public offering in the United
States or any other jurisdiction. Any public offering of securities
to be made in the United States would be made by means of a
prospectus that would contain detailed information about the
Company and its management, as well as financial statements. Copies
of this communication are not being, and should not be, distributed
in or sent into the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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