Tethys Petroleum Limited (Cayman Islands) provides update on arrangement with Jaka Partners FZC

25.07.19 09:35
/KASE, July 25, 2019/ – Tethys Petroleum Limited (Cayman Islands), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated July 23, 2019: quote Tethys Petroleum Limited ("Tethys" or the "Company") today provides an update regarding the previously announced Scheme of Arrangement proposed to be made between Jaka Partners FZC ("Jaka"), the Company and the holders of its Ordinary Shares (the "Scheme"). The Scheme was approved by shareholders at the Company’s Annual General and Special Meeting held on June 28, 2019 and on July 16, 2019 the Grand Court of the Cayman Islands made an order approving the Scheme (the "Final Order"). On receipt of approval from the Ministry of Energy of the Republic of Kazakhstan ("MoE") and provision of funding by Jaka for the cash consideration due, Tethys will file the Final Order with the Cayman Islands Register of Companies and the effective date for the Scheme ("Effective Date") will occur seven days later when consideration will be paid to those shareholders who have elected to receive cash consideration for their ordinary shares or to exchange their ordinary shares for preference shares. The Company is working with Jaka to complete the above steps as soon as possible and currently anticipates an Effective Date in August 2019. unquote The full press release is available on KASE website: - http://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_230719_1.pdf – in Russian; - http://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_240719_eng_1.pdf – in English. [2019-07-25]