Business
Draw Down of Funds and Issue
Draw Down of Funds and Issue.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n RNS Number : 2237L Gulf Keystone Petroleum Ltd 04 May 2010 \n \n\nNot for release, publication or distribution in or into jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction\n \n 4 May 2010\nGulf Keystone Petroleum Ltd.\n(\"Gulf Keystone\" or \"the Company\")\nDraw Down of Funds and Issue of Equity\nGulf Keystone Petroleum Ltd. (AIM: GKP), an independent oil and gas exploration and production company with assets in Kurdistan announces that it has today drawn down £2,000,000 of its £30 million Standby Equity Distribution Agreement (\"SEDA\") with YA Global Master SPV Ltd ('YA'), the signing of which was announced by Gulf Keystone on the 7th May 2009. \n \nThis draw down of funds is the fifth under the SEDA and brings to £19,960,000 the amount of funds drawn down to date. The remaining undrawn funds under the SEDA facility are £10,040,000. \n \nUnder the terms of the SEDA, the Company has allotted, conditional on admission, 2,495,597 new common shares of $0.01 each to YA. These shares will rank pari passu in all respects with existing issued common shares in the Company. The new common shares have been issued at approximately 80.14 pence per share.\n \nThe funds will be used to advance the development of Gulf Keystone's projects in Kurdistan.\n \nApplication will be made to the London Stock Exchange for 2,495,597 new common shares of $0.01 each to be admitted to trading on AIM. It is expected that the admission will become effective and that trading will commence on 10 May 2010. \n \nThe total issued share capital of Gulf Keystone following this allotment will be 519,885,122 common chares. The Company does not hold any common shares in treasury and so the total number of voting rights in the Company is 519,885,122.\n \nEnquiries:\n \n\n\n\n\nGulf Keystone Petroleum:\n\n\n+44 (0) 20 7514 1400\n\n\n\n\nTodd Kozel, Executive Chairman\n\n\n\n\n\n\n\nEwen Ainsworth, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nStrand Hanson Limited\n\n\n+44 (0)20 7409 3494\n\n\n\n\nSimon Raggett / Rory Murphy / James Harris\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMirabaud Securities LLP\n\n\n+44 (0)20 7878 3362\n\n\n\n\nPeter Krens\n\n\n\n\n\n\n\n\n\n\n\n\n\...