Gunsynd PLC Update on Oyster Oil and Gas (7917R)
04 März 2019 - 4:51PM
UK Regulatory
TIDMGUN
RNS Number : 7917R
Gunsynd PLC
04 March 2019
Gunsynd plc
("Gunsynd" or the "Company")
Update on Oyster Oil and Gas
The Board of Gunsynd (AIM: GUN, NEX: GUN) notes the announcement
made on 1 March 2019 by Oyster Oil and Gas Ltd. ("Oyster"; listed
on TSX Venture Exchange under the symbol "OY"), in which Gunsynd
invested GBP250,000 by way of a convertible loan on 21 July 2017,
stating that Northbay Capital Partners Corp. and Gunsynd have
reached conditional agreement ("Agreement") with Oyster to settle
aggregate debts of CAD1,426,500 owed to them by Oyster in exchange
for the outstanding share capital of Oyster's wholly-owned
operating subsidiary, Oyster Oil & Gas Limited ("Subco"),
established under the laws of the British Virgin Islands.
Oyster's production sharing contracts in Madagascar and Djibouti
are held through Subco.
The Agreement is subject to the approval of the shareholders of
Oyster, which Oyster intends to seek at a meeting of shareholders
in the near term. It is also subject to the review and approval of
the TSX Venture Exchange.
The future board composition of Subco is still under discussion
and a further announcement will be made in due course.
In addition to the convertible loan note, Gunsynd holds
2,313,000 ordinary shares in Oyster representing approximately
5.29% of Oyster's issued share capital.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
The directors of Gunsynd accept responsibility for this
announcement.
For further information please contact:
Gunsynd plc
Hamish Harris +44 20 7440 0640
Cairn Financial Advisers LLP
James Caithie / Liam Murray +44 20 7213 0880
Peterhouse Corporate Finance
Lucy Williams +44 20 7469 0930
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
UPDJIMATMBIMBLL
(END) Dow Jones Newswires
March 04, 2019 10:51 ET (15:51 GMT)
Gunsynd (AQSE:GUN)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Gunsynd (AQSE:GUN)
Historical Stock Chart
Von Jul 2023 bis Jul 2024