05:17 PM EDT, 06/03/2025 (MT Newswires) -- GeoPark ( GPRK ) said late Tuesday its board has adopted a shareholder rights plan, effective immediately, to protect the long-term interests of the company and its stockholders due to the "unusually rapid" accumulation of its common stock by a single stockholder.

The rights can be exercised if a person or a group acquires beneficial ownership of 12% or more of the outstanding common shares in a transaction not authorized by the board, the company said.

It added that if the ownership threshold is reached, the rights will enable shareholders, excluding those triggering the rights, to buy additional common shares at the then-current exercise price.

The rights plan is set to expire in one year, the company said.