Tethys Oil’s holding of own shares has exceeded 5 per cent
Tethys Oil AB (publ) (“Tethys Oil”) has, under the previously announced share repurchase program, on Tuesday 11 June 2019 repurchased 10,000 own shares. Following the acquisition, Tethys Oil’s holding of own shares amounts to 3,598,326 (including 1,644,163 redemption shares received under the split and redemption procedure resolved upon by the Annual General Meeting). The holding corresponds to 5.01 per cent of the total number of shares and votes in Tethys Oil. The total amount of shares in Tethys Oil, as of 31 May 2019, is 71,792,620, of which 35,896,310 are redemption shares.
Following completion of the above-mentioned split and redemption procedure, Tethys Oil’s holding of own shares will amount to 1,954,163 and the total amount of shares in Tethys Oil will amount to 35,896,310. Tethys Oil’s holding of own shares will then correspond to 5.44 per cent of the total number of shares and votes in Tethys Oil.
The Annual General Meeting held on 15 May 2019 authorized the board of Tethys Oil to repurchase shares at one or several occasions up until the Annual General Meeting 2020, and by a maximum of so many shares that the company’s holding of own shares after the purchase amounts to one-tenth of all shares in the company.
For further information regarding Tethys Oil’s share repurchase program, please refer to the press release announced on 22 May 2019.
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 Financial Instruments Trading Act. The information was submitted for publication at 11:00 CEST on 14 June 2019.
Tethys Oil AB (publ)
Tethys Oil is a Swedish oil company with focus on onshore areas with known oil discoveries. Tethys Oil's core area is Oman, where the company holds 2P reserves of 25 mmbo and 2C Contingent Resources of 13 mmbo and had an average oil production of 11,767 barrels per day from Blocks 3&4 during 2018. Tethys Oil also has onshore exploration licences in Lithuania and France and some production in Lithuania. The shares are listed on Nasdaq Stockholm (TETY). Website: www.tethysoil.com