24th Oct 2007 07:00
Gulfsands Petroleum PLC24 October 2007 Issue of equity and Director's Dealing London, 24th October, 2007: Gulfsands Petroleum plc (the "Company" - AIM: GPX),the oil and gas production, exploration and development company with activitiesin the U.S.A., Syria and Iraq announces that the Company has issued and allotted85,000 ordinary shares of 5.714p each in the Company ("Ordinary Shares") toNordman Continental S.A. ("Nordman") at the direction of Mr. Mahdi Sajjad, aDirector and the Company's President, at a subscription price of 145p per newOrdinary Share (the "Issue"). Mr. Sajjad has subscribed for these new Ordinary Shares through the reinvestmentof a bonus payment made by the Company in recognition of Mr. Sajjad'sconsiderable contribution to the development of the Company's businessopportunities in the Middle East. Following the Issue, Nordman is interest in 8,141,875 Ordinary Shares whichequates to 7.32% of the enlarged issued share capital of the Company. Nordman is owned by the trustee of a discretionary trust under which Mr.Sajjad's children are interested. The new Ordinary Shares will rank pari passu with the existing Ordinary Sharesof the Company and have been allotted and issued credited as fully paid. Application has been made for the new Ordinary Shares to be admitted to tradingon AIM and dealings are expected to commence on or around 24 October 2007. Following the issue and allotment of the new ordinary shares the issued sharecapital of the Company will be 111,178,750 Ordinary Shares. For further information, please refer to the Company's website www.gulfsands.netor contact: Gulfsands Petroleum (Houston) + 1-713-626-9564John Dorrier, Chief Executive OfficerDavid DeCort, Chief Financial Officer Gulfsands Petroleum (London) 020-7182-4016Kenneth Judge, Director of Corporate Development 07733-001-002 College Hill (London) 020-7457-2020Nick ElwesPaddy Blewer Landsbanki Securities (UK) Limited (London) 020-7426-9000Jeff Keating / Tom Hulme (Corporate Finance) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Gulfsands Petroleum