Business
Restructuring Agreement Update
Restructuring Agreement Update.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \nRNS Number : 9215F Gulf Keystone Petroleum Ltd. 02 August 2016 \n\nNot for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction. This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.\n \n \n \n \n \n 2 August 2016\nGulf Keystone Petroleum Limited. (LSE: GKP)\n(\"Gulf Keystone\", \"GKP\" or \"the Company\")\n \nUS$250,000,000 13.0 per cent. Guaranteed Notes due 2017 (ISINs: Regulation S XS1056559245, Rule 144A XS1056559088) (the \"Guaranteed Notes\") and US$325,000,000 6.25 per cent. Convertible Bonds due 2017 (ISIN: XS0841237497, Common Code: 084123749) (the \"Convertible Bonds\")\n \nRestructuring Agreement Update\n \nFurther to its RNS of 14 July 2016 regarding the Balance Sheet Restructuring Transaction (the \"Restructuring RNS\"), the Company announces today that signatories to the Restructuring Agreement now represent approximately 82% of the aggregate principal amount of the Guaranteed Notes and approximately 82% of the aggregate principal amount of the Convertible Bonds. \n \nUnder the terms of the Restructuring Agreement, the signatories have agreed, inter alia, to (i) forbear from taking any action to enforce the terms of the Guaranteed Notes and/or the Convertible Bonds, as applicable, (ii) support and take reasonable and necessary actions (that are consistent with the Restructuring Agreement and the Restructuring) as they may have under or in respect of the Guaranteed Notes and/or the Convertible Bonds, as applicable, in furtherance of implementation and consummation of the Restructuring and (iii) vote in favour o...