TPL Tethys

 
TIDMTPL 
 
   January 30, 2017 
 
   Tethys Petroleum Press Release 
 
   (TSX: TPL, LSE: TPL) 
 
   Results of Extraordinary General Meeting 
 
   GRAND CAYMAN, CAYMAN ISLANDS - Tethys Petroleum Limited ("Tethys" or the 
"Company") today announces the results of the Extraordinary General 
Meeting ("EGM") held on January 27, 2017. 
 
   Extraordinary General Meeting 
 
   All resolutions put to shareholders at the EGM were passed on a poll at 
the meeting. 
 
   Details of the voting on a poll on those resolutions voted on at the EGM, 
including votes represented by proxies, are as follows: 
 
 
 
 
Resolution                                      For     Against 
                                        114,043,831  74,880,448 
 1.    The Warrant Exercise Resolution     (60.36%)    (39.64%) 
                                        113,663,831  74,880,448 
 1.    The Debt Conversion Resolution      (60.28%)    (39.72%) 
 
 
   In accordance with applicable Toronto Stock Exchange and Canadian 
Multilateral Instrument 61-101 rules the votes in respect of the Warrant 
Exercise Resolution exclude any votes attaching to ordinary shares 
beneficially owned by Jin Guang Ltd., the nominee company of Medgat 
Kumar and Prax Pte Ltd., the nominee company of Winston Sanjeev Kumar 
Soosaipillai. 
 
   Shares owned by Jin Guang Ltd. and Prax Pte Ltd.  each account for 8.6% 
of the ordinary shares issued by the Company. If all 192,300,000 
warrants are exercised and assuming the Annuity and Life Reassurance 
Ltd. ("ALR") loans are converted at maturity into 186,316,064 ordinary 
shares then Jin Guang Ltd. and Prax Pte Ltd. would each own 
approximately 15.8% of the enlarged number of ordinary shares. 
 
   Similarly, the votes in respect of the Debt Conversion Resolution 
exclude any votes attaching to ordinary shares beneficially owned or 
controlled by Pope Asset Management LLC, Annuity and Life Reassurance 
Ltd. ("ALR") or their affiliates. 
 
   Together these shares account for 17.3% of the ordinary shares issued by 
the Company. If the ALR loans are converted at maturity and assuming 
conversion of the warrants owned by Jin Guang Ltd. and Prax Pte Ltd. the 
percentage of the enlarged number of ordinary shares owned by Pope Asset 
Management LLC, ALR and their affiliates would be approximately 30.9%. 
 
   About Tethys 
 
   Tethys is focused on oil and gas exploration and production activities 
in Central Asia and the Caspian Region. This highly prolific oil and gas 
area is rapidly developing and Tethys believes that significant 
potential exists in both exploration and in discovered deposits. 
 
   Disclaimer 
 
   Some of the statements in this document are forward-looking. 
Forward-looking statements include statements regarding the intent, 
belief and current expectations of the Company or its officers with 
respect to the potential that exists in both exploration and in 
discovered deposits in Central Asia and the Caspian Region, exercise of 
the warrants owned by Jin Guang Ltd. and Prax Pte Ltd. and conversion of 
the ALR loans. When used in this document, the words "expects," 
"believes," "anticipates," "plans," "may," "will," "should" and similar 
expressions, and the negatives thereof, are intended to identify 
forward-looking statements. Such statements are not promises or 
guarantees, and are subject to risks and uncertainties that could cause 
actual outcomes to differ materially from those suggested by any such 
statements including risks and uncertainties with respect to the 
potential that exists in both exploration and in discovered deposits in 
Central Asia, exercise of the warrants owned by Jin Guang Ltd. and Prax 
Pte Ltd. and conversion of the ALR loans. 
 
   No part of this announcement constitutes, or shall be taken to 
constitute, an invitation or inducement to invest in the Company or any 
other entity, and shareholders of the Company are cautioned not to place 
undue reliance on the forward-looking statements. Save as required by 
the Listing Rules and applicable law, the Company does not undertake to 
update or change any forward-looking statements to reflect events 
occurring after the date of this announcement. 
 
   Contact Information: 
 
   Tethys Petroleum 
 
   info@tethyspetroleum.com 
 
   www.tethyspetroleum.com 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Tethys Petroleum Limited via Globenewswire 
 
 
  http://www.tethyspetroleum.com/ 
 

(END) Dow Jones Newswires

February 03, 2017 12:32 ET (17:32 GMT)

Tethys (LSE:TPL)
Gráfica de Acción Histórica
De Oct 2024 a Nov 2024

Tethys (LSE:TPL)
Gráfica de Acción Histórica
De Nov 2023 a Nov 2024