Gulf Keystone Petroleum Ltd. Completion of Share Consolidation (5433R)
December 12 2016 - 2:25AM
UK Regulatory
TIDMGKP
RNS Number : 5433R
Gulf Keystone Petroleum Ltd.
12 December 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.
12 December 2016
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone" or "the Company")
Completion of Share Consolidation
Following the announcement on 8 December 2016 that all the
resolutions proposed at the Company's Annual General Meeting were
duly passed by shareholders, the Company confirms that the
22,942,956,605 common shares of US$0.01 each were consolidated and
divided into 229,429,566 new common shares of US$1 each with a new
ISIN of BMG4209G2077 ("Common Shares") (the "Consolidation"). Such
Common Shares have the same rights and are subject to the same
restrictions (save as to par value) as common shares in issue prior
to the consolidation. All existing options and warrants have been
consolidated on the same 100:1 basis.
CREST Shareholders' accounts have been credited with the new
Common Shares to which they are entitled under the Consolidation on
9 December 2016 being the effective date of the Consolidation.
New share certificates will be issued to Non-CREST Shareholders
in substitution for their existing share certificates. All existing
share certificates will be invalid and will be cancelled and new
share certificates are expected to be dispatched to those
Shareholders who held their Existing Common Shares in certificated
form, on or before 19 December 2016.
Unless a Shareholder's entitlement is for an exact number of
Common Shares, a right to a fractional entitlement of a Common
Share would theoretically arise following the Consolidation. For
example a shareholder having 105 common shares prior to the
consolidation would, after the consolidation, as well as receiving
1 Common Share, be entitled to a fractional entitlement of 0.05 of
a Common Share.
Fractional entitlements arising from the Consolidation will be
aggregated and sold in the market and the net proceeds will be
donated to a charity designated by the board of directors of the
Company.
Save for any adjustment resulting from the fractional
entitlements, all shareholders and option holders will retain the
same percentage interest in the Company post consolidation as
previously held.
Enquiries:
Gulf Keystone Petroleum: +44 (0) 20 7514 1400
Jón Ferrier, CEO
Sami Zouari, CFO
Anastasia Vvedenskaya, Head
of Investor Relations
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
-- Further information on Gulf Keystone is available on its website www.gulfkeystone.com
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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December 12, 2016 02:25 ET (07:25 GMT)
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