Gulf Keystone Petroleum Ltd. Transaction in Own Shares (8253B)
04 Februar 2020 - 8:00AM
UK Regulatory
TIDMGKP
RNS Number : 8253B
Gulf Keystone Petroleum Ltd.
04 February 2020
04 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 03 February 2020
Number of common shares purchased 186,245
Highest price paid per common share 186.30 pence
Lowest price paid per common shares 185.22 pence
Volume weighted average price per common 185.71 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 with the first stage of the
programme being for an initial amount of $15 million. As announced
on 21 January 2020, once the first stage of the programme is
completed, purchases of the final amount of $10 million will
commence. Under the programme, the Company has purchased 5,060,959
common shares for a total value of $13.39 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 216,221,787 common
shares plus 13,207,779 common shares held in Treasury.
The above figure of 216,221,787 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
31,000 185.22 11:54:45 Exchange
------------------- -------------------- --------------
London Stock
46,000 185.49 14:13:22 Exchange
------------------- -------------------- --------------
London Stock
28,609 186.30 15:27:34 Exchange
------------------- -------------------- --------------
London Stock
44,505 186.02 16:18:49 Exchange
------------------- -------------------- --------------
London Stock
36,131 185.56 16:35:46 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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