Gulf Keystone Petroleum Ltd. Transaction in Own Shares (4136E)
February 27 2020 - 12:40PM
UK Regulatory
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RNS Number : 4136E
Gulf Keystone Petroleum Ltd.
27 February 2020
27 February 2020
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone", "GKP" or "the Company")
Transaction in Own Shares
Gulf Keystone Petroleum, a leading independent operator and
producer in the Kurdistan Region of Iraq, announces that it has
made the following redemptions pursuant to the share buyback
programme (the "Buyback Programme") announced on 10 December
2019.
Date of purchase 27 February 2020
Number of common shares purchased 196,621
Highest price paid per common share 162.99 pence
Lowest price paid per common shares 158.00 pence
Volume weighted average price per common 160.40 pence
share
As announced on 10 December 2019, the Company will use existing
cash resources to make market purchases of common shares for a
maximum consideration of $25 million. The initial amount of $15
million of the programme has been completed. Further to the
announcement on 21 January 2020, purchases of the final amount of
$10 million has commenced. Under the programme, the Company has
purchased 8,157,984 common shares for a total value of $20.65
million to date.
Notification of total voting rights in accordance with the FCA's
Disclosure and Transparency Rules provision 5.6.1R.
Following the repurchase of the shares set out above the
Company's issued share capital consists of 213,124,762 common
shares plus 16,304,804 common shares held in Treasury.
The above figure of 213,124,762 may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in Gulf Keystone under the FCA's Disclosure and
Transparency Rules. The Company will make further announcements in
due course following the completion of any further purchases
pursuant to the Programme.
In accordance with Article 5(1)(b) of the Market Abuse
Regulation (EU) No 596/2014 details of the purchase of its own
common shares by the Company, which were all executed through the
Company's broker, Peel Hunt LLP, are set out below:
Individual transactions:
Number of shares Transaction price Time of transaction Trading venue
purchased (pence per share)
London Stock
65,000 162.99 10:33:27 Exchange
------------------- -------------------- --------------
London Stock
50,000 160.38 13:24:50 Exchange
------------------- -------------------- --------------
London Stock
25,000 159.16 14:34:46 Exchange
------------------- -------------------- --------------
London Stock
25,000 158.00 15:17:51 Exchange
------------------- -------------------- --------------
London Stock
31,621 158.00 16:27:52 Exchange
------------------- -------------------- --------------
Enquiries:
Celicourt Communications: + 44(0) 20 8434 2754
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. Further
information on Gulf Keystone is available on its website
www.gulfkeystone.com
Disclaimer
This announcement contains certain forward-looking statements
that are subject to the risks and uncertainties associated with the
oil & gas exploration and production business. These statements
are made by the Company and its 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 risks and uncertainties, including both
economic and business factors and/or factors beyond the Company's
control or within the Company's control where, for example, the
Company decides on a change of plan or strategy. 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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