Gulf Keystone Petroleum has launched a scheme of arrangement in respect of holders of its guaranteed notes and convertible bonds in connection with the balance sheet restructuring transaction announced on 14 July. A directions hearing was held yesterday at the Chancery Division of the High Court with the company granted an order to convene meetings of the holders of the guaranteed notes and the convertible bonds to consider and, if thought fit, approve the scheme. As the holders of the guaranteed notes and the holders of the convertible bonds form separate classes there will be two scheme meetings, one for each class. The meetings will be held on 22 September at the offices of Paul Hastings (Europe) LLP, Ten Bishops Square, London E1 6EG at 10.30 a.m. in respect of the guaranteed notes and 11.00 a.m. in respect of the convertible bonds.
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