Transaction in Own Shares

RNS Number : 8420F

Gulf Keystone Petroleum Ltd.

11 March 2020

 

11 March 2020

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP" or "the Company")

Transaction in Own Shares

Gulf Keystone Petroleum, a leading independent operator and producer in the Kurdistan Region of Iraq, announces that it has made the following redemptions pursuant to the share buyback programme (the "Buyback Programme") announced on 10 December 2019.

Date of purchase	1 1 March 2020
Number of common shares purchased	29 2,308
Highest price paid per common share	103.60 pence
Lowest price paid per common shares	99.10 pence
Volume weighted average price per common share	101.81 pence

As announced on 10 December 2019, the Company will use existing cash resources to make market purchases of common shares for a maximum consideration of $25 million. The initial amount of $15 million of the programme has been completed. Further to the announcement on 21 January 2020, purchases of the final amount of $10 million has commenced. Under the programme, the Company has purchased 10,339,628 common shares for a total value of $24.36 million to date.

Notification of total voting rights in accordance with the FCA's Disclosure and Transparency Rules provision 5.6.1R.

Following the repurchase of the shares set out above the Company's issued share capital consists of 210,943,118 common shares plus 18,486,448 common shares held in Treasury.

The above figure of 210,943,118 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Gulf Keystone under the FCA's Disclosure and Transparency Rules. The Company will make further announcements in due course following the completion of any further purchases pursuant to the Programme.

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 details of the purchase of its own common shares by the Company, which were all executed through the Company's broker, Canaccord Genuity Limited, are set out below:

Individual transactions:

Number of shares purchased	Transaction price (pence per share)	Time of transaction	Trading venue
2,189	99.1	08:12:07	London Stock Exchange
2,811	99.1	08:12:30	London Stock Exchange
981	99.2	08:19:21	London Stock Exchange
4,019	99.2	08:19:41	London Stock Exchange
3,021	99.2	08:19:41	London Stock Exchange
2,129	99.2	08:19:45	London Stock Exchange
3,557	101.0	08:26:25	London Stock Exchange
241	101.0	08:26:25	London Stock Exchange
349	101.0	08:26:25	London Stock Exchange
88	101.0	08:26:25	London Stock Exchange
127	101.0	08:26:25	London Stock Exchange
2,389	101.0	08:27:26	London Stock Exchange
742	103.6	08:55:44	London Stock Exchange
4,258	103.6	08:55:44	London Stock Exchange
4,658	103.6	08:55:44	London Stock Exchange
167	103.6	08:55:44	London Stock Exchange
175	103.6	08:59:48	London Stock Exchange
718	103.6	08:59:48	London Stock Exchange
718	103.6	08:59:48	London Stock Exchange
1,663	103.6	08:59:48	London Stock Exchange
658	102.8	09:06:19	London Stock Exchange
1,683	102.8	09:06:19	London Stock Exchange
3,200	102.8	09:06:19	London Stock Exchange
952	102.8	09:06:19	London Stock Exchange
2,232	102.8	09:06:19	London Stock Exchange
1,015	102.8	09:06:31	London Stock Exchange
260	102.8	09:12:09	London Stock Exchange
1,027	102.2	09:19:18	London Stock Exchange
3,973	102.2	09:19:18	London Stock Exchange
5,395	102.2	09:19:18	London Stock Exchange
5,000	102.2	09:19:18	London Stock Exchange
83	102.2	09:19:18	London Stock Exchange
1,468	102.2	09:19:18	London Stock Exchange
3,532	102.2	09:21:30	London Stock Exchange
686	102.2	09:21:30	London Stock Exchange
1,382	102.2	09:21:30	London Stock Exchange
1,386	102.2	09:21:30	London Stock Exchange
1,068	102.2	09:21:30	London Stock Exchange
1,253	102.2	10:24:26	London Stock Exchange
1,192	102.2	10:24:26	London Stock Exchange
2,555	102.2	10:28:50	London Stock Exchange
453	102.2	10:28:50	London Stock Exchange
100,000	102.4	10:31:10	London Stock Exchange
142	101.0	11:25:28	London Stock Exchange
3,956	101.0	11:29:02	London Stock Exchange
196	101.0	11:29:02	London Stock Exchange
706	101.0	11:29:02	London Stock Exchange
70	101.0	11:29:02	London Stock Exchange
5,000	101.0	11:29:02	London Stock Exchange
3,446	101.0	11:29:02	London Stock Exchange
1,554	101.0	11:29:02	London Stock Exchange
1,698	101.0	11:29:02	London Stock Exchange
369	101.0	11:29:02	London Stock Exchange
2,933	101.0	11:29:02	London Stock Exchange
4,930	101.0	11:29:02	London Stock Exchange
91,855	101.4	12:41:32	London Stock Exchange

Enquiries:

Celicourt Communications:	+ 44(0) 20 8434 2754
Mark Antelme Jimmy Lea

or visit: www.gulfkeystone.com  

Notes to Editors:

Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website  www.gulfkeystone.com

Disclaimer

This announcement contains certain forward-looking statements that are subject to the risks and uncertainties associated with the oil & gas exploration and production business.  These statements are made by the Company and its Directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent risks and uncertainties, including both economic and business factors and/or factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy.  This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed.  This announcement should not be relied on by any other party or for any other purpose.

 

END

 

 

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