Further Investment in Oyster Oil & Gas

RNS Number : 1114E

Gunsynd PLC

02 July 2019

 

Gunsynd plc

("Gunsynd" or the "Company")

Further Investment in Oyster Oil and Gas

Gunsynd (AIM: GUN, ISDX: GUN) announces that it has invested US$130,000 for 108  new ordinary shares in Oyster Oil & Gas Limited ("Oyster"), representing approximately 9.75% of Oyster's enlarged issued share capital.  Gunsynd's total holding following the issue of the new ordinary shares will now represent approximately 30% of the issued share capital of Oyster. 

Funds will be used primarily to meet certain licence obligations relating to the interests held by Oyster in Madagascar.

Oyster has reached an "in principle" agreement with the Government of Madagascar for a two year extension to the current exploration phase, which is subject to certain conditions which include the licence obligations referred to above.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

The directors of Gunsynd accept responsibility for this announcement.

For further information, please contact: 

Gunsynd plc Hamish Harris	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray / Richard Nash	[phone]
Peterhouse Corporate Finance Lucy Williams	[phone]

 

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