Gulf Keystone Rejects DNO Offer

The board of Gulf Keystone has rejected DNO ASA's proposal to acquire the total share capital of the company, which it received by letter on July 28. 

“Completion of the restructuring best serves our stakeholders and we will not engage in any additional process that causes the company to be distracted from that objective. The company has responded to DNO accordingly,” Gulf Keystone said in a company statement.

DNO's proposal was conditional upon the successful completion of the ongoing Balance Sheet Restructuring Transaction announced by Gulf Keystone on July 14. 

“In light of the importance of the proposed Restructuring for all stakeholders, the board continues to strongly recommend that shareholders vote in favour of the resolution to authorize the increase in the company's share capital, to be proposed at the Special General Meeting, in order to implement the Restructuring,” Gulf Keystone added.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Report: Hiring Managers See Salaries S... (Mar 23)
 -  Repsol Chooses Atlas for Onshore, Offs... (Mar 23)
 -  OGA Awards 25 Licences for 111 UKCS Bl... (Mar 23)
 -  UK Minister Brands Oil Worker Discrimi... (Mar 23)
 -  Analyst Sees Possible Crest for US Gas... (Mar 22)


Most Popular Articles

From the Career Center
Jobs that may interest you
Account Manager - Levelland/Lubbock, TX Area
Expertise: Business Development|Production Operator
Location: Lubbock, tx
 
Account Manager - Levelland/Lubbock, TX Area
Expertise: Business Development|Production Operator
Location: Lubbock, tx
 
Landman
Expertise: Landman
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours