Further Investment in Oyster Oil & Gas
Updated : 07:02
Gunsynd plc
("Gunsynd" or the "Company")
Further Investment in Oyster Oil and Gas
Gunsynd (AIM: GUN, ISDX: GUN) announces that it has invested US$130,000 for 108 new ordinary shares in Oyster Oil & Gas Limited ("Oyster"), representing approximately 9.75% of Oyster's enlarged issued share capital. Gunsynd's total holding following the issue of the new ordinary shares will now represent approximately 30% of the issued share capital of Oyster.
Funds will be used primarily to meet certain licence obligations relating to the interests held by Oyster in Madagascar.
Oyster has reached an "in principle" agreement with the Government of Madagascar for a two year extension to the current exploration phase, which is subject to certain conditions which include the licence obligations referred to above.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of Gunsynd accept responsibility for this announcement.
For further information, please contact:
Gunsynd plc Hamish Harris |
+44 20 7440 0640 |
Cairn Financial Advisers LLP James Caithie / Liam Murray / Richard Nash |
+44 20 7213 0880 |
Peterhouse Corporate Finance Lucy Williams |
+44 20 7469 0930
|
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