/KASE, December 21, 2018/ – Tethys Petroleum Limited (Cayman Islands), whose
shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided
press release to KASE dated December 20, 2018, which states as follows:
quote
Grand Cayman, Cayman Islands - Tethys Petroleum Limited ("Tethys" or the "Company")
today announces that Tethys’ board has received a verbal expression of interest
for a possible acquisition of a significant number of Tethys’ ordinary shares
from representatives of existing shareholders Jaka Partners FZC and Gemini IT
Consultants DMCC (“the New Investors”). The structure of the transaction is being
discussed though the New Investors or their affiliates would acquire up to 70%
of Tethys’ issued and outstanding ordinary shares not yet owned at a price of
US$0.06 in cash payable on closing and up to 30% of issued and outstanding
ordinary shares not yet owned would be exchanged for preference shares of Tethys
which shares would be automatically redeemed at a price of US$0.18 after three
years. Tethys has received shareholder approval to effect a 10:1 share
consolidation and the aforementioned references to per share pricing are based
on pricing pre-consolidation and will be adjusted to give effect to the
consolidation.
unquote
Full version of the press release is posted on the KASE website (in Russian) –
http://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_201218_1.pdf
[2018-12-21]