16th Sep 2013 14:27
LONDON (Alliance News) - Gulf Keystone Petroleum Limited Monday said it has raised GBP665,490 after Mirabaud Securities LLP partially exercised a warrant.
The oil-and-gas exploration and production company with operations in the Kurdistan region of Iraq said the warrant holder, Mirabaud Securities LLP, is subscribing for 475,350 common shares out of 975,350 shares granted as part of a placing agreement dated October 15, 2010.
The warrant was issued in lieu of a cash payment for placing fees in respect of the fund raising.
Gulf Keystone said it intends to apply for admission of the warrant shares to trading on AIM. It expects that admission will become effective and that dealings in the warrant shares will commence on September 20.
The company announced September 12 that it is moving forward on its proposed move to the official list on the London Stock Exchange after it won a legal dispute with Excalibur Ventures LLC, which had claimed that an agreement dating back to 2006 entitled it to a 30% share of Gulf Keystone's subsequent discoveries.
The English Commercial Court dismissed all claims and decided all issues in favour of Gulf Keystone.
Gulf Keystone shares were up 4.25 pence, or 2.02%, to 214.50 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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