- Om Tethys Oil
The Annual General Meeting ("AGM") on 13 May 2015 resolved to authorize the Board of Directors to decide on repurchase of own shares. The Board of Directors has, based on the authorization, decided to initiate the repurchasing program. The main purpose of the repurchasing program is to optimize the capital structure. Repurchased shares may also be used as payment in connection with, or financing of, acquisitions of companies or businesses.
The repurchase of shares may only take place on Nasdaq Stockholm and only at a price within the price interval prevailing at any given time. Purchases may be made at one or more occasions up until the AGM in 2016, and by a maximum of so many shares that the company's holding of own shares after the purchase amounts to not more than of one-tenth of all the shares in the company.
Tethys Oil currently holds 352,060 shares in custody.
For the complete authorization, please refer to Tethys Oil's website, www.tethysoil.com.
For further information, please contact
Magnus Nordin, managing director, phone +46 8 505 947 00
Morgan Sadarangani, CFO, phone +46 8 505 947 01
The information in this press release has been made public by the Company in accordance with the Securities Market Act and/or the Financial Instruments Trading Act.
Tethys Oil AB (publ)
Tethys Oil is a Swedish energy company focused on exploration and production of oil and natural gas. Tethys Oil's core area is Oman, where the company is one of the largest onshore oil and gas concession holders. Tethys Oil also has exploration and production assets onshore France and Lithuania. The shares are listed on Nasdaq Stockholm (TETY).