Share Name Share Symbol Market Type Share ISIN Share Description
Gulf Keystone Petroleum Ltd LSE:GKP London Ordinary Share BMG4209G2077 COM SHS USD1.00 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  4.20 6.61% 67.70 67.70 68.40 68.90 65.80 65.80 439,071 11:09:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 196.5 62.5 27.3 2.4 152

Gulf Keystone Petroleum Ltd. Transaction in Own Shares

17/02/2020 5:50pm

UK Regulatory (RNS & others)


Gulf Keystone Petroleum (LSE:GKP)
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RNS Number : 2678D

Gulf Keystone Petroleum Ltd.

17 February 2020

17 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                            17 February 2020 
 Number of common shares purchased           163,908 
 Highest price paid per common share         182.00 pence 
 Lowest price paid per common shares         181.00 pence 
 Volume weighted average price per common    181.65 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 6,700,332 common shares for a total value of $17.36 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 214,582,414 common shares plus 14,847,152 common shares held in Treasury.

The above figure of 214,582,414 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 
      46,360              182.00              10:56:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      75,031              181.75              15:07:04            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      22,517              181.00              16:23:30            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      20,000              181.20              16:35:42            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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February 17, 2020 12:50 ET (17:50 GMT)

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