Gulfsands Petroleum PLC Funding Update (6841U)

TIDMGPX

RNS Number : 6841U

Gulfsands Petroleum PLC

31 July 2015

Gulfsands Petroleum Plc

Funding Update

31 July 2015

Gulfsands Petroleum Plc ("Gulfsands" or the "Company"), the AIM listed oil and gas company (AIM:GPX) with activities in Syria, Morocco, Tunisia and Colombia, provides the following update with regard to its proposed financing.

As announced on 30 June 2015, the Company is preparing a financing to raise approximately US$22 million ("Fundraising"). The Company is working with its advisers and the various regulatory authorities to complete the Fundraising in a timely manner. At present, the Company is preparing a circular for shareholders to include details of the Fundraising and a notice of an extraordinary general meeting to approve the resolutions to facilitate the Fundraising.

The Company expects the Fundraising to be by way of a US$22 million open offer to all shareholders, which will require the publication of an open offer prospectus.

The Company will provide a further update on the proposed Fundraising in due course.

For further information, please refer to the Company's website www.gulfsands.com or contact:

 
 Gulfsands Petroleum Plc 
  Alastair Beardsall, Chairman    +44 (0)20 7024 2130 
 Cantor Fitzgerald Europe 
  Sarah Wharry 
  David Porter                    +44 (0)20 7894 7000

This information is provided by RNS

The company news service from the London Stock Exchange

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