Tethys Petroleum Limited (Cayman Islands) announces possible acquisition of ordinary shares KYG876361091 (KY_TPL_) by company shareholders

21.12.18 17:14
/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]