Director's Shareholdings

RNS Number : 7184V

Gulf Keystone Petroleum Ltd.

17 January 2012

 



Not for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.

17 January 2012

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Director's Shareholdings

Gulf Keystone today announces that it has been informed by Mr Todd F Kozel ("Mr Kozel") that pursuant to a confidential Divorce Settlement Agreement executed in Florida, USA on 12 January 2012 (the "Agreement"), Mr Kozel, Executive Chairman and Chief Executive Officer of the Company, has agreed to transfer to Mrs Ashley Kozel ("Mrs Kozel") seventeen million four hundred and thirty-three thousand, four hundred and thirty-three (17,433,433) common shares of the Company for nil consideration (the "Settlement Shares").

The Settlement Shares include 11,600,000 common shares, which were the subject of the Company's announcement dated 13 June 2011.

As part of the divorce settlement the Settlement Shares will be transferred to Mrs Kozel free and clear of any restrictions on their sale other than an orderly market condition on any resale, by Mr Kozel.

A further announcement will be made once the transfer of the Settlement Shares has been completed.

As a result of the transaction contemplated by the Agreement, Mr Kozel now holds:

Common Shares held directly	Common Shares held beneficially by the EBT	% of issued share capital	Number of Options over Common Shares
166,667	526,670	0.81	16,961,473

Enquiries:

Gulf Keystone Petroleum:	[phone]
Todd Kozel, Executive Chairman and Chief Executive Officer
Ewen Ainsworth, Finance Director
Strand Hanson Limited	[phone]
Simon Raggett / Rory Murphy / James Harris
Mirabaud Securities LLP	[phone]
Peter Krens
Pelham Bell Pottinger	[phone]
Mark Antelme

or visit: www.gulfkeystone.com

Notes to Editors:

§ Gulf Keystone Petroleum Ltd. (AIM: GKP) is an independent oil and gas exploration and production company focused on exploration in the Kurdistan Region of Iraq.

§ Gulf Keystone Petroleum International Limited holds Production Sharing Contracts for fourexploration blocks in Kurdistan.

§ The Company's shares have traded on the AIM market of the London Stock Exchange since listing on 8^th September 2004.

§ Gulf Keystone Petroleum Limited is registered in Hamilton, Bermuda with further offices in Erbil, Kurdistan (Iraq), Algiers, Algeria and London, UK.

Not for release, publication or distribution, directly or indirectly, in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction. This document (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. No public offering of the securities will be made in the United States.

 

END

 

 

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