Last checked at 26 Mar 2012 07:01
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.
26 March 2012
Gulf Keystone Petroleum Ltd. (AIM: GKP)
("Gulf Keystone" or "the Company")
Directors' Shareholdings
Further to the Company's announcement dated 22 March 2012, Gulf Keystone was notified by Mr Mehdi Varzi, a Non-Executive Director of the Company ("Mr Varzi"), on 23 March 2012 that on the same day he sold 257,347 common shares of USD 0.01 at an average price of £2.5417 per share.
The Company was also informed that, following a request from Mr Ali Al-Qabandi, an Executive Director of the Company ("Mr Al-Qabandi"), the Trustee of the Company's Employee Benefit Trust ("EBT") agreed to release 1,000,000 common shares out of the EBT to Mr Al-Qabandi and to transfer the common shares at nil cost to his own account without any common shares being sold.
As a result of the transactions, Mr Varzi and Mr Al-Qabandi now hold:
Director | Common shares held directly | Common shares held beneficially by the EBT | % of issued share capital | Number of Options held over common shares |
Ali Al- Qabandi | 10,450,000 | 0 | 1.19 | 1,000,000 |
Mehdi Varzi | 578,208 | 0 | 0.07 | 100,000 |
Enquiries:
Gulf Keystone Petroleum: | +44 (0) 20 7514 1400 |
Todd Kozel, Executive Chairman and Chief Executive Officer | |
Ewen Ainsworth, Finance Director | |
Strand Hanson Limited: | +44 (0) 20 7409 3494 |
Simon Raggett / Rory Murphy / James Harris | |
Mirabaud Securities LLP: |
+44 (0) 20 7878 3362 |
Peter Krens | |
Pelham Bell Pottinger: | +44 (0) 20 7861 3232 |
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 (GKPI) holds Production Sharing Contracts for four exploration blocks in Kurdistan, including the Shaikan block.
§ Shaikan is a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels.
§ The Company's shares have traded on the AIM market of the London Stock Exchange since listing on 8th 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.