Gulfsands Petroleum PLC Secondary Trading Facility (6564L)
20 April 2018 - 10:06PM
UK Regulatory
TIDMGPX
RNS Number : 6564L
Gulfsands Petroleum PLC
20 April 2018
This announcement has not been approved by the London Stock
Exchange plc nor is it intended that it will be so approved.
Certain statements included herein constitute "forward-looking
statements" concerning the Company within the meaning of applicable
securities legislation. These forward-looking statements are based
on certain assumptions made by Gulfsands and as such are not a
guarantee of future performance. These forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in such
forward-looking statements. Many of these risks and uncertainties
relate to factors that are beyond Gulfsands' ability to control or
estimate precisely, such as general economic and market conditions
in various countries and regions, political risks, environmental
and physical risks, legislative, fiscal and regulatory
developments, drilling and production results, reserves estimates,
changes in demand for Gulfsands' products, increased costs of
production or price fluctuations in crude oil and natural gas.
Gulfsands cannot give any assurance that such forward-looking
statements will prove to be correct. Gulfsands does not undertake
any obligation to update or revise publicly any forward-looking
statements set out herein, whether as a result of new information,
future events or otherwise, except as required by applicable
laws.
This announcement contains inside information for the purpose of
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via Regulatory Information Service
("RIS"), this inside information is now considered to be in the
public domain. If you have any queries on this, then please contact
Andrew Morris, the Finance Director of the Company (responsible for
arranging release of this announcement) at 5th Floor, 88 Kingsway,
London, WC2B 6AA or on +44 20 7841 2727.
20 April 2018
GULFSANDS PETROLEUM PLC
Secondary Market Trading Facility
Gulfsands Petroleum plc ("Gulfsands" or the "Company" - AIM:
GPX), the oil and gas company with assets in Syria and Colombia,
today announces details of the secondary market trading facility
that will be in place following the cancellation of the admission
to trading on AIM of its ordinary shares (the "Delisting").
As previously announced, following approval by shareholders at
the General Meeting held on 10 April 2018, the Delisting will take
effect from 7.00am on 23 April 2018.
Following the Delisting, the Company has appointed Asset Match
(www.assetmatch.com) to facilitate trading in the Ordinary Shares.
Asset Match, a firm authorised and regulated by the Financial
Conduct Authority, will operate an electronic off-market dealing
facility for the Ordinary Shares. This facility will allow existing
shareholders of the Company ("Shareholders") and new investors to
trade Ordinary Shares by matching buyers and sellers through
periodic auctions. Investors can register their interest for
further information on the Asset Match auction process by emailing
gulfsands@assetmatch.com
The Asset Match trading facility operates under its own code of
practice which governs the behaviour of participants and the
running of the periodic auctions. Asset Match operates an open
auction system where volumes of bids and offers at different prices
are displayed on its website together with the closing date of the
auction. At the end of each auction period Asset Match pass this
information through a non-discretionary algorithm that determines a
"fair" share price based on supply and demand and allocates
transactions accordingly. Bids and offers may be made and withdrawn
at any time before the closing date of each auction.
Shareholders will continue to be able to hold their shares in
uncertificated form (i.e. in CREST) and should check with their
existing stockbroker whether they are willing or able to trade in
unquoted shares. Shareholders wishing to trade shares through Asset
Match must do so through a stockbroker and a comprehensive list of
stockbrokers who have signed up to access the Asset Match platform
is available on the Asset Match website. The preferred broker of
Asset Match is the Share Centre www.share.com
Gulfsands has not yet determined the closing date of the first
Asset Match auction of its Ordinary Shares, but it is the Company's
intention to have the first auction towards the end of May 2018.
Details will be posted on the Company's website and on the Company
page to be set up on the Asset Match website.
For further information, please refer to the Company's website
at www.gulfsands.com or contact:
Gulfsands Petroleum Plc
John Bell, Managing Director
Andrew Morris, Finance Director
James Ede-Golightly, Non-Executive
Chairman +44 (0)20 7841 2727
Camarco
Billy Clegg / Owen Roberts +44 (0)20 3757 4983
Cantor Fitzgerald Europe
David Porter / Nick Tulloch +44 (0)20 7894 7000
Asset Match Limited
Ben Weaver / Matthew Wilson +44 (0)20 7248 2788
This information is provided by RNS
The company news service from the London Stock Exchange
END
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