Gulf Keystone notes that DNO's proposal is conditional upon the successful completion of the ongoing Balance Sheet Restructuring Transaction ("the Restructuring"), announced by Gulf Keystone on 14 July 2016.
The Board has concluded that 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.
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 authorise the increase in the Company's share capital, to be proposed at the Special General Meeting ("SGM"), in order to implement the Restructuring.
Shareholders should vote in advance of the SGM to be held on 5 August 2016. Detailed information on the Resolution and voting deadlines can be found in the SGM Notice and Circular at:
http://www.gulfkeystone.com/investor-centre/shareholder-information/shareholder-communications/special-general-meeting-notice-and-circular
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