Gulf Keystone is pleased to announce the successful completion of the Placing announced earlier today. A total of 21,600,000 new common shares of US$0.01 each (the 'Placing Shares'), representing approximately 8.5 per cent. of Gulf Keystone's existing issued share capital, have been placed by Hoare Govett Limited and Tristone Capital Limited with institutions at a price of 62 pence per share, raising approximately £13.4 million before expenses.
The Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing common shares of Gulf Keystone, including the right to receive all dividends and other distributions declared, made or paid after the date of issue of the Placing Shares.
The Placing is conditional, inter alia, on admission of the Placing Shares to trading on AIM ('Admission').
Application has been made for Admission and it is expected that settlement will occur, Admission will become effective and dealings in the Placing Shares will commence on 22 August 2006.
Enquiries:
Gulf Keystone Petroleum Limited
Todd Kozel, Chief Executive Officer 020 7514 1400
Bill Guest, President
Jon Cooper, Finance Director
Hoare Govett Limited
Andrew Foster / Bertie Whitehead 020 7678 8000
John MacGowan 020 7678 1084
Tristone Capital Limited
Nick Morgan / Majid Shafiq 020 7399 2486
Charles Lesser / Chris Grudniewicz 020 7399 2485
Citigate Dewe Rogerson
Martin Jackson / George Cazenove 020 7638 9571
Nina Soon
This announcement is for information purposes only and does not constitute an offer or invitation to acquire or dispose of any securities or investment advice in any jurisdiction.
Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser.
Hoare Govett Limited, which is authorised and regulated by the Financial Services Authority, is acting exclusively for Gulf Keystone and for no one else solely in connection with the Placing and will not be responsible to anyone other than Gulf Keystone for providing the protections afforded to the customers of Hoare Govett Limited or for providing advice in relation to the Placing.
Tristone Capital Limited, which is authorised and regulated by the Financial Services Authority, is acting exclusively for Gulf Keystone and for no one else solely in connection with the Placing and will not be responsible to anyone other than Gulf Keystone for providing the protections afforded to the customers of Tristone Capital Limited or for providing advice in relation to the Placing.
This announcement is not an offer for sale or a solicitation of any offer to purchase the Placing Shares in the United States. The Placing Shares may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the 'US Securities Act') or an exemption therefrom. The Company does not intend to register any portion of the Placing under the US Securities Act or to conduct a public offering of the Placing Shares in the United States. The Placing Shares have not been and will not be registered with any regulatory authority of any state or other jurisdiction within the United States.
