Gulf Keystone successfully completes consent solicitation

Oil explorer Gulf Keystone Petroleum has been granted permission to remove the book equity ratio covenant from the trust deed constituting the notes of its security agreement.

The London-listed group said holders representing over 89% of the amount of notes outstanding took part in the vote, with 99% voting in favour of the amendments proposed by the company, which have now been implemented.

Gulf Keystone will pay a consent fee of $5 (£3.36) for each $1,000 to holders who gave their consent before the 3pm deadline on 2 April and accepted the terms of the Consent Solicitation Memorandum.

Gulf Keystone shares were up 2.65% to 38.75p at 10:42 on Wednesday.