Completion of Share Buyback Programme
Share buyback programme completed with 5.7m shares repurchased for $10m total consideration.
- Shares repurchased 5,676,774
- Total consideration $10m
- Volume weighted average price 139.82 pence per share
- Total distributions to shareholders (2024 YTD) $25m
- Shares in issue after cancellation 217,021,881
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Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, announces that following the purchase of common shares of US$1.00 each in the Company ("Shares") on 23 July 2024, the Company's share buyback programme (the "Buyback Programme"), as announced on 13 May 2024 and 21 June 2024, has been completed.
Over the course of the Buyback Programme between 13 May 2024 and 23 July 2024, Gulf Keystone has acquired in aggregate 5,676,774 Shares for a total consideration of $10 million, at a volume weighted average price of 139.82 pence per share. Combined with the recent $15 million interim dividend, Gulf Keystone has declared distributions to shareholders of $25 million in 2024 year to date.
All purchases made under the Buyback Programme were made through the Company's brokers, Canaccord Genuity Limited and Peel Hunt LLP.
Following the cancellation of the repurchased Shares on 23 July 2024, the Company will have 217,021,881 Shares in issue, with no Shares held in treasury. Therefore, the total number of Shares carrying voting rights will be 217,021,881.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.