- Om Tethys Oil
The shareholders of Tethys Oil AB (publ) today gathered in Stockholm, Sweden, Tuesday 25 October 2016 for an Extraordinary General Meeting. It was resolved on the Extraordinary General Meeting to distribute to the shareholders in total approximately SEK 102.6 million by way of a mandatory share redemption procedure.
The Meeting resolved on a total distribution equal to SEK 102,643,578 in total, given the company's current holding of own shares. The distribution will be made by the share redemption procedure resolved on by the Meeting, comprising a share split whereby every share is split into one new ordinary share and one redemption share, where after the redemption shares are automatically redeemed at SEK 3.00 per redemption share. The record date for the share split shall be on Wednesday, 2 November 2016 and the record date for the redemption of redemption shares shall be on Friday, 18 November 2016. Following completion of the compulsory redemption of 35,543,750 shares, the share capital of the company is reduced by SEK 2,962,812.67. Following completion of the reduction, the share capital of the company amounts to SEK 2,962,812.67, divided among 35,543,750 shares.
For technical reasons the Meeting also resolved on a bonus issue to restore the company's share capital following the redemption procedure. The share capital of the company will be increased by SEK 2,962,812.67 by way of transfer of SEK 2,962,812.67 from the non-restricted equity of the company. Following completion of the bonus issue, the share capital of the company will thus once again amount to SEK 5,925,625.34.
The company also intends to promote arrangements for customary trade in the redemption shares.
For further information, please contact
Magnus Nordin, managing director, phone +46 8 505 947 00
This information is information that Tethys Oil AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10.30 a.m. CEST on 25 October 2016.
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).