Result of Open Offer
The Open Offer closed for acceptances at 11:00 a.m. on 12 January 2016 and the Company is pleased to announce that is has received valid acceptances in respect of 151,760,157 Open Offer Shares from Qualifying Shareholders. Pursuant to the Underwriting, a further 203,077,139 Open Offer Shares have been subscribed for by Waterford and Blake, a company owned and controlled by Mr. Griffiths, such that a total of 354,837,296 Open Offer Shares have been subscribed for under the Open Offer.
The Company has therefore raised aggregate gross proceeds of £14,193,491.84 through the Open Offer.
Director's holding
Pursuant to the Open Offer, the Directors of the Company have subscribed for Open Offer Shares as detailed in the table below:
Director | Number of Existing Shares | Percentage of total Existing Shares | Number of Open Offer Shares applied for under Open Offer | Number of Ordinary Shares held following Open Offer | Percentage of Enlarged Share Capital | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Alastair Beardsall | 0 | 0.00% | 0 | 0 | 0.00% | ||||||
Andrew West | 140,144 | 0.12% | 421,833 | 561,977 | 0.12% | ||||||
Andrew Morris | 80,000 | 0.07% | 240,800 | 320,800 | 0.07% | ||||||
Joe Darby | 25,000 | 0.02% | 75,250 | 100,250 | 0.02% | ||||||
John Bell | 0 | 0.00% | 0 | 0 | 0.00% | ||||||
James Ede-Golightly | 20,000 | 0.02% | 60,200 | 80,200 | 0.02% | ||||||
TOTAL | 265,144 | 0.22% | 798.083 | 1,063,227 | 0.22% | ||||||
Concert Party holding
Pursuant to the Open Offer and the Underwriting, the Concert Party have subscribed for Open Offer Shares as detailed in the table below:
Shareholder group | Number of Existing Shares | Percentage of total Existing Shares | Number of Open Offer Shares applied for under Open Offer | Number of Open Offer Shares subscribed in the Underwriting | Number of Ordinary Shares held following Open Offer | Percentage of Enlarged Share Capital | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Waterford | 33,100,513 | 28.08% | 99,632,544 | 101,538,569 | 234,271,626 | 49.56% | |||||||
Mr. Griffiths | 11,780,717 | 9.99% | 35,459,958 | 101,538,570 | 148,779,245 | 31.47% | |||||||
Alastair Beardsall | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||||||
James Ede-Golightly | 20,000 | 0.02% | 60,200 | 0 | 80,200 | 0.02% | |||||||
TOTAL | 44,901,230 | 38.09% | 135,152,702 | 203,077,139 | 383,131,071 | 81.05% |
Gulfsands Petroleum plc issued this content on 13 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 January 2016 10:15:20 UTC
Original Document: http://www.gulfsands.com/s/NewsReleasesc675.html?ReportID=726370