GP Petroleums Clarifies Exclusivity Agreement Details

GP Petroleums Ltd has issued a clarification regarding its Exclusivity Agreement with Incubit DMCC. The company has corrected the full name of the entity to 'Incubit Management Consultants DMCC (Incubit DMCC)'. Additionally, the 'Exclusivity Fee' of USD 100,000 has been renamed to 'Exclusivity Deposit'. The agreement stipulates that this deposit will be fully refunded by Incubit DMCC to GP Petroleums if the proposed transaction is not consummated. All other terms and the status of the transaction remain unchanged from previous disclosures.