Tethys Petroleum Ltd Tethys Petroleum Press Release: Tethys Petroleum Limited To Cancel Listing In The United Kingdom

 
TIDMTPL 
 
   March 24, 2017 
 
   Tethys Petroleum Press Release 
 
   (TSX: TPL, LSE: TPL) 
 
   Tethys Petroleum Limited to cancel listing in the United Kingdom 
 
   GRAND CAYMAN, CAYMAN ISLANDS - Tethys Petroleum Limited ("Tethys" or the 
"Company") today announces that it has applied to the United Kingdom 
Listing Authority ("UKLA") to cancel the standard listing of the 
Company's ordinary shares (the "Shares") from the Official List of the 
UKLA and the cancellation of trading in the Shares on the Main Market of 
the London Stock Exchange (together, the "Cancellation"), following a 
determination by the Company that the costs of maintaining a dual 
listing on the London and Toronto stock exchanges is unnecessarily 
expensive for a company of Tethys' size.  Following the Cancellation, 
the Shares will continue to trade on the Toronto Stock Exchange which 
should provide shareholders with liquidity and places sufficient 
corporate governance requirements upon the Company.  Further, the 
Company's conclusion, that the London listing be cancelled, is supported 
by the limited trading and liquidity of the Shares on the London Stock 
Exchange (meaning that limited benefit is brought by that listing). 
 
   Pursuant to Listing Rule 5.2.8, the Company announces that the 
cancellation notice period has now commenced and cancellation is 
expected to take effect at 7:00 am on Tuesday 2 May, 2017. 
 
   The Company currently has two share registers, a register maintained by 
Capita Asset Services in the UK and a register maintained by TSX Trust 
Company in Canada. It is the Company's intention to transfer the 
shareholdings on the Capita Asset Services register to the TSX Trust 
Company register following the Cancellation which should result in 
further cost savings for the Company. Those shareholders affected will 
be contacted about this with further details in due course. 
 
   About Tethys 
 
   Tethys is focused on oil and gas exploration and production activities 
in Central Asia and the Caspian Region. This highly prolific oil and gas 
area is rapidly developing and Tethys believes that significant 
potential exists in both exploration and in discovered deposits. 
 
   Disclaimer 
 
   Some of the statements in this document are forward-looking. 
Forward-looking statements include statements regarding the intent, 
belief and current expectations of the Company or its officers with 
respect to the potential that exists in both exploration and in 
discovered deposits in Central Asia and the Caspian Region, the 
regulatory and associated costs which may be saved as a result on the 
Cancellation and the transfer of the Capita Asset Services register to 
the TSX Trust Company register. When used in this document, the words 
"expects," "believes," "anticipates," "plans," "may," "will," "should" 
and similar expressions, and the negatives thereof, are intended to 
identify forward-looking statements. Such statements are not promises or 
guarantees, and are subject to risks and uncertainties that could cause 
actual outcomes to differ materially from those suggested by any such 
statements including risks and uncertainties with respect to the 
potential that exists in both exploration and in discovered deposits in 
Central Asia, the regulatory and associated costs which may be saved as 
a result on the Cancellation and the transfer of the Capita Asset 
Services register to the TSX Trust Company register. 
 
   No part of this announcement constitutes, or shall be taken to 
constitute, an invitation or inducement to invest in the Company or any 
other entity, and shareholders of the Company are cautioned not to place 
undue reliance on the forward-looking statements. Save as required by 
the Listing Rules and applicable law, the Company does not undertake to 
update or change any forward-looking statements to reflect events 
occurring after the date of this announcement. 
 
   Contact Information: 
 
   Tethys Petroleum 
 
   [e-mail] 
 
   www.tethyspetroleum.com 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Tethys Petroleum Limited via Globenewswire 
 
 
  http://www.tethyspetroleum.com/ 
 

(END) Dow Jones Newswires

March 24, 2017 03:00 ET (07:00 GMT)

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