Funding Update

RNS Number : 6841U

Gulfsands Petroleum PLC

31 July 2015

 

Gulfsands Petroleum Plc

Funding Update

31 July 2015

Gulfsands Petroleum Plc ("Gulfsands" or the "Company"), the AIM listed oil and gas company (AIM:GPX) with activities in Syria, Morocco, Tunisia and Colombia, provides the following update with regard to its proposed financing.

As announced on 30 June 2015, the Company is preparing a financing to raise approximately US$22 million ("Fundraising"). The Company is working with its advisers and the various regulatory authorities to complete the Fundraising in a timely manner. At present, the Company is preparing a circular for shareholders to include details of the Fundraising and a notice of an extraordinary general meeting to approve the resolutions to facilitate the Fundraising.

The Company expects the Fundraising to be by way of a ~US$22 million open offer to all shareholders, which will require the publication of an open offer prospectus.

The Company will provide a further update on the proposed Fundraising in due course.

For further information, please refer to the Company's website www.gulfsands.com or contact:

Gulfsands Petroleum Plc Alastair Beardsall, Chairman	[phone]
Cantor Fitzgerald Europe Sarah Wharry David Porter	[phone]

 

END

 

 

MSCSDSSWFFISEFW