As a result of the Financing, 42 million New Ordinary Shares have been issued, comprising: 22 million New Ordinary Shares as a result of the
This takes the total number of outstanding Ordinary Shares in issue to 561,995,785.
In addition, a further
The completion of the Financing also allows the Company to recommence its program of periodic auctions of its Ordinary Shares through the Asset Match platform, and so it can confirm that the next auction is scheduled to close at
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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.
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