Tethys Petroleum Press Release: Notice of Extraordinary General Meeting of Shareholders
(firmenpresse) - GRAND CAYMAN, CAYMAN ISLANDS -- (Marketwired) -- 06/13/17 -- Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL) HEREBY GIVES NOTICE THAT an extraordinary general meeting (the "Meeting") of the holders of ordinary shares of the Company will be held at the offices of Borden Ladner Gervais LLP, Bay Adelaide Centre, East Tower, 22 Adelaide St W, Toronto, ON, M5H 4E3, Canada on July 28, 2017 at 11:00 a.m. (Eastern Daylight Time - local time in Toronto, Canada).
The Meeting has been convened pursuant to a Member''s requisition made by Olisol Petroleum Limited ("Olisol") in accordance with Regulation 35(B) of the Articles of Association of the Company for the following purposes:
Resolutions 1.1 to 1.4 - Removal of Directors
To propose each of the following separate resolutions as ordinary resolutions of the Company, the removal of which shall take effect from the conclusion of the Meeting if the resolutions are approved:
1.1 to remove William P. Wells as a director of the Company;
1.2 to remove Medgat Kumar as a director of the Company;
1.3 to remove Adeola Ogunsemi as a director of the Company; and
1.4 to remove any person who became a director between May 23, 2017 and the date of the Meeting,
all as more particularly described and set forth in the management information circular of the Company to be mailed to shareholders (the "Circular").
Resolutions 2.1 to 2.5 - Appointment of Directors
To propose each of the following separate resolutions as ordinary resolutions of the Company, the appointment of which shall take effect from the conclusion of the Meeting if the resolutions are approved:
2.1 to elect Piers Johnson as a director of the Company;
2.2 to elect Bill Roberts as a director of the Company;
2.3 to elect Robert James Nash as a director of the Company;
2.4 to elect Vladimir Griguletsky as a director of the Company; and
2.5 if resolution 1.1 is approved, that a person to be nominated by Pope Asset Management (not being William P. Wells or Kenneth May) be appointed as a director of the Company,
all as more particularly described and set forth in the Circular.
Management and the Board of Directors will oppose the resolutions and management will be soliciting votes against all of the proposed resolutions.
The details of all matters proposed to be put before shareholders at the Meeting will be set forth in the Circular. At the Meeting, shareholders will be asked to vote on the resolutions, all as more particularly described in the Circular. To be approved, each resolution must be approved by a majority of the votes attached to the ordinary shares held by shareholders present in person or by proxy at the Meeting. Apart from Resolution 2.5, which is conditional on the approval of Resolution 1.1, the resolutions are not conditional on each other, so any or all of the resolutions may be approved even if the others are not.
Only shareholders of record as of June 28, 2017, the record date, will be entitled to receive notice of the Meeting and to attend and vote at the Meeting. Each outstanding ordinary share will entitle the holder thereof, as of the record date, to one vote at the Meeting.
Resolutions Excluded from the Business of the Meeting
Olisol also requested that the following resolutions be included in the business of the Meeting, however, the Board of Directors, following receipt of legal advice, does not regard these proposed resolutions as being appropriate matters for decision by the shareholders and those resolutions have therefore been properly excluded from the notice of the Meeting for the reasons set out below.
Contacts:
Tethys Petroleum
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Datum: 13.06.2017 - 14:05 Uhr
Sprache: Deutsch
News-ID 1508937
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GRAND CAYMAN, CAYMAN ISLANDS
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Oil & Gas
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