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Gulfsands Petroleum (GPX)

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Friday 31 July, 2015

Gulfsands Petroleum

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

 

+44 (0)20 7024 2130

Cantor Fitzgerald Europe

Sarah Wharry

David Porter

+44 (0)20 7894 7000

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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