Tethys Petroleum Limited Press Release: Results of Annual General and Special Meeting
(firmenpresse) - GRAND CAYMAN, CAYMAN ISLANDS -- (Marketwired) -- 05/31/16 -- Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL)(LSE: TPL) announces the results of its Annual General and Special Meeting of Shareholders ("AGM") held on May 31, 2016.
Results of Annual General and Special Meeting
All resolutions put to shareholders at the AGM were passed on a poll at the meeting.
Prior to the AGM, Resolution 9.4 was withdrawn from the formal business of the meeting as the conditions required for the proposed director, Vladimir Griguletsky, to be appointed the Board prior to the meeting had not been met.
Details of the voting on a poll on those resolutions voted on at the AGM including votes represented by proxies are as follows:
Cayman Islands Court Approval Requirement
The closing of the Olisol transaction is conditional on a few items, including the reduction in the par value of the Company''s ordinary shares. Following approval by special resolution of the Shareholders, pursuant to Section 14(1) of the Companies Law (2013 Revision), the reduction in the par value of the shares of the Company, and thereby the authorised share capital, requires confirmation by the Grand Court of the Cayman Islands. The Company will petition the court for approval of the special resolution and if approved, the order of the court and the minutes will be delivered to the Registrar of Companies for registration, the resolution for reducing the par value and authorised share capital will take effect on registration. It is noted that the confirmation of the Grand Court of the Cayman Islands may be subject to certain consents being obtained and the satisfaction of certain publication requirements.
Chairman''s Quote
Alexander Abramov said: "I am pleased to be able to report that all resolutions put to shareholders at today''s AGM were passed with votes in favour of all resolutions above 96% of the votes cast. I look forward to working with the new board and management of the Company and to completing the transactions with Olisol which the shareholders have now endorsed."
About Tethys Petroleum
Tethys Petroleum''s aim is to become the leading independent E&P Company in Central Asia, by exercising capital discipline, by generating cash flow from existing discoveries and by maturing large exploration prospects within our highly attractive frontier acreage.
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Tethys Petroleum
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Datum: 31.05.2016 - 09:30 Uhr
Sprache: Deutsch
News-ID 1438466
Anzahl Zeichen: 3354
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GRAND CAYMAN, CAYMAN ISLANDS
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Oil & Gas
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