GeoPark Ltd | CIK:0001464591 | 3

  • Filed: 4/12/2018
  • Entity registrant name: GeoPark Ltd (CIK: 0001464591)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1464591/000114420418020167/0001144204-18-020167-index.htm
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    • ifrs-full:DisclosureOfRelatedPartyExplanatory

    Note 33
    Related parties
     
    Controlling interest
     
    The main shareholders of GeoPark Limited, a company registered in Bermuda, as of 31 December 2017, are:
     
     
     
    Common
     
    Percentage of outstanding
     
    Shareholder
     
    shares
     
    common shares
     
    James F. Park (a)
     
     
    7,891,269
     
     
    13.02
    %
    Gerald E. O’Shaughnessy(b)
     
     
    7,193,316
     
     
    11.87
    %
    Manchester Financial Group, LP
     
     
    5,103,439
     
     
    8.42
    %
    IFC Equity Investments(c)
     
     
    3,422,476
     
     
    5.65
    %
    Juan Cristóbal Pavez(d)
     
     
    2,961,520
     
     
    4.89
    %
    Other shareholders
     
     
    34,024,199
     
     
    56.15
    %
     
     
     
    60,596,219
     
     
    100.00
    %
     
    (a) Held by Energy Holdings, LLC, which is controlled by James F. Park, a member of our Board of Directors.
    (b) Beneficially owned by Mr. O’Shaughnessy directly and indirectly through GP Investments LLP, GPK Holdings, and other investment vehicles.
    (c) IFC Equity Investments voting decisions are made through a portfolio management process which involves consultation from investment officers, credit officers, managers and legal staff.
    (d) Held through Socoservin Overseas Ltd, which is controlled by Juan Cristóbal Pavez. The common shares reflected as being held by Mr. Pavez include 83,716 common shares held by him personally.
     
    Balances outstanding and transactions with related parties
     
     
     
     
     
    Balances
     
     
     
     
     
     
     
    Transaction in
     
    at year
     
     
     
     
     
    Account (Amounts in ´000)
     
    the year
     
    end
     
    Related Party
     
    Relationship
     
    2017
     
     
     
     
     
     
     
     
     
     
     
    To be recovered from co-venturers
     
     
    -
     
     
    2,455
     
    Joint Operations
     
    Joint Operations
     
    Prepayments and other receivables
     
     
    -
     
     
    56
     
    LGI
     
    Partner
     
    Payables account
     
     
    -
     
     
    (31,184)
     
    LGI
     
    Partner
     
    To be paid to co-venturers
     
     
    -
     
     
    (10,015)
     
    Joint Operations
     
    Joint Operations
     
    Financial results
     
     
    2,224
     
     
    -
     
    LGI
     
    Partner
     
    Geological and geophysical expenses
     
     
    170
     
     
    -
     
    Carlos Gulisano
     
    Non-Executive Director (a)
     
    Administrative expenses
     
     
    411
     
     
    -
     
    Pedro Aylwin
     
    Executive Director (b)
     
    2016
     
     
     
     
     
     
     
     
     
     
     
    To be recovered from co-venturers
     
     
    -
     
     
    3,311
     
    Joint Operations
     
    Joint Operations
     
    Prepayments and other receivables
     
     
    -
     
     
    42
     
    LGI
     
    Partner
     
    Payables account
     
     
    -
     
     
    (27,801)
     
    LGI
     
    Partner
     
    To be paid to co-venturers
     
     
    -
     
     
    (1,614)
     
    Joint Operations
     
    Joint Operations
     
    Financial results
     
     
    1,587
     
     
    -
     
    LGI
     
    Partner
     
    Geological and geophysical expenses
     
     
    113
     
     
    -
     
    Carlos Gulisano
     
    Non-Executive Director (a)
     
    Administrative expenses
     
     
    371
     
     
    -
     
    Pedro Aylwin
     
    Executive Director (b)
     
    2015
     
     
     
     
     
     
     
     
     
     
     
    To be recovered from co-venturers
     
     
    -
     
     
    4,634
     
    Joint Operations
     
    Joint Operations
     
    Prepayments and other receivables
     
     
    -
     
     
    38
     
    LGI
     
    Partner
     
    Payables account
     
     
    -
     
     
    (21,045)
     
    LGI
     
    Partner
     
    To be paid to co-venturers
     
     
    -
     
     
    (113)
     
    Joint Operations
     
    Joint Operations
     
    Financial results
     
     
    1,560
     
     
    -
     
    LGI
     
    Partner
     
    Geological and geophysical expenses
     
     
    101
     
     
    -
     
    Carlos Gulisano
     
    Non-Executive Director (a)
     
    Administrative expenses
     
     
    66
     
     
    -
     
    Carlos Gulisano
     
    Non-Executive Director (a)
     
    Administrative expenses
     
     
    377
     
     
    -
     
    Pedro Aylwin
     
    Executive Director (b)
     
     
    (a) Corresponding to consultancy services.
    (b) Corresponding to wages and salaries for US$ 271,000 (US$ 246,000 in 2016 and US$ 317,000 in 2015) and bonus for US$ 140,000 (US$ 125,000 in 2016 and US$ 60,000 in 2015).
     
    There have been no other transactions with the Board of Directors, Executive officers, significant shareholders or other related parties during the year besides the intercompany transactions which have been eliminated in the Consolidated Financial Statements, the normal remuneration of Board of Directors and other benefits informed in Note 11.