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TETHYS OIL INCREASES PREVIOUSLY ANNOUNCED SHARE ISSUE BY SEK 20 MILLION

2012-05-14T08:51:00 CET

The Board of Tethys Oil AB (publ) (the "Company") has, exercising a mandate that was granted at the AGM held on 25 May 2011, resolved to make a directed issue of 500,000 new shares (the "Issue").

The Issue which is for 500,000 shares completes the intention to place up to 3,000,000 shares announced on May 9, 2012. The issue price is SEK 40 and is the same that was set through book building in the placing of 2,500,000 shares announced on May 10, 2012 . The price corresponds to a discount of approximately 7 percent to the volume weighted average share price the last trading day before the Issue.  Through the Issue, SEK 20 million will be brought to the Company before issue expenses.

Following the Issue, the number of shares amounts to 35,543,750, of which the new shares correspond to 1.4 percent of the equity. The Company's share capital increases with SEK 83,333 from SEK 5,840,625 to SEK 5,923,958.

The new shares will entitle to dividends for the first time at the record date for dividend that is closest after the new shares have been registered by the Swedish Companies Registration Office (Bolagsverket).

The proceeds from the two share issues amounts to in total SEK 120 million before issue costs and will be used to fund the Company's ongoing investment programme in Oman and for general working capital purposes. The two share issues comprise a total of 3,000,000 shares and were subscribed mainly by Swedish and international institutional investors. The reason for deviating from the shareholders' preferential right was to reach institutional investors and broaden the Company's investor base.

Pareto Öhman AB is financial adviser to the Company in connection with the Issue. Gernandt & Danielsson Advokatbyrå KB is the legal adviser to Pareto Öhman AB in connection with the Issue.

 

For further information, please contact

Magnus Nordin, Managing Director, phone +46 70 576 6555; magnus@tethysoil.com

Morgan Sadarangani, CFO, phone +46 73 593 1500; morgan@tethysoil.com

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Tethys Oil AB (publ)

Tethys Oil is a Swedish energy company focused on identification and development for production of oil and natural gas assets. Tethys' core area is the Sultanate of Oman, where the company is the second largest onshore oil and gas concession-holder with licence interests in three onshore blocks. Tethys also has licences onshore France, Lithuania and Sweden. Tethys' strategy is to invest in projects in areas with known oil and natural gas discoveries that have not been properly appraised using modern technology. In this way, high returns can be achieved with limited risk.

The shares are listed on First North (TETY) in Stockholm. Remium AB is Certified Adviser.

Website: www.tethysoil.com

 

IMPORTANT INFORMATION

The information above is not intended for, and may not be distributed to or be published in, directly or indirectly, Australia, Canada, Hong Kong, Japan, New Zeeland, South Africa, the USA, or any other jurisdiction where this would require registrations measures or would constitute a breach of law

The information above does not contain or constitute an invitation or an offer to acquire, subscribe for, sell or otherwise trade in shares or other securities in Alpcot Agro AB ("the securities"). Nor does it constitute a prospectus under the terms in Directive 2003/71/EC.

No securities are or will be registered in accordance with the U.S. Securities Act of 1933 ("Securities Act") or any provincial act in Canada or any legislation in Australia, Hong Kong, Japan, New Zeeland or South Africa. The securities may therefore not, directly or indirectly, be sold, resold, offered for sale, delivered or spread within or to any of these jurisdictions, or to any person located there at that point of time or resident there, or on account of such person, and further not to or within any other jurisdiction where such measure would violate the laws of the jurisdiction or require registrations measures, other than in accordance with an applicable exemption. A failure to comply with this instruction may result in a violation of the Securities Act or laws applicable in other jurisdictions.

Pareto Öhman is acting for the Company and no one else in connection with the Issue and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Issue and/or any other matter referred to in this announcement. Pareto Öhman accepts no responsibility whatsoever and makes no representation or warranty, express or implied, for the contents of this announcement, including its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on its behalf, in connection with the Issue and nothing in this announcement is, or shall be relied upon as, a promise or representation in this respect, whether as to the past or future.

Bilagor

Om Tethys Oil

Tethys Oil är ett svenskt oljebolag med fokus på onshoreområden med kända oljefynd. Tethys kärnområde är Oman, där bolaget har 22 miljoner fat i bevisade och sannolika oljereserver och 17 miljoner fat i betingade resurser 2C. Under 2017 hade Tethys Oil en genomsnittlig oljeproduktion om 12 162 fat om dagen från Block 3&4. Tethys Oil har också prospekteringstillgångar onshore Frankrike och Litauen och viss produktion i Litauen. Aktierna är noterade på Nasdaq Stockholm (TETY).