Tethys Share Discussion Threads

[casual47] 22/9/2018 09:47

If the loan holders have become shareholders via one of the NI, then a covenant relating to being listed won't matter anymore.

One of the previous posters here told me that the people behind the Cayman loan were, allegedly, ex-Sinohan (Stephen Yip). When the Sinohan deal fell through some of them decided to keep working with Tethys via the loan......allegedly. I don't know anything about this, just telling you what I was told.

[casual47] 22/9/2018 09:41

Could be lots of things. E.g. special resolution to permit

*a large placing
*a corporate name change (perhaps relating to the website change from tethyspetroleum.com to the recently registered tethys-group.com domain)
* the execution of the warrants of the Kumars, which may also need to include a takeover waiver resolution / disapplication of pre-emption rights as it would take them over 30%
* a change to the articles of association
* a change to the company's status, e.g. go private
* wind-up the company

If I'm not mistaken in order to push through a special resolution they need 75% of the votes cast. Having the NI on board will of course help with that, which is handy for them.

[hguess16] 22/9/2018 09:39

TI,
I guess it is to "formalise" the take-over by NI and friends in KZ !.
Let's hope they take into account the interests of PI's in future because the BOD
failed miserably since they took over from Robson.

[temporarily insane] 22/9/2018 09:19

I wonder what this special meeting is all about then, now that the NI have taken up their extra warrants?

[hguess16] 22/9/2018 07:59

Ib,
Seems like the BOD will be represented a group of puppets headed by Chairman P.
Mojohead might decide to reveal the name of the Controller in charge !

[hguess16] 22/9/2018 06:49

Forget Jaka and Gemini !. They are just trade names !.
Amirkhanov represents both J & G on the Tethys Board.

[islandbruin] 22/9/2018 00:08

Don't think Jaka Partners FZC and Gemini IT Consultants are KZ based. I'll bet Mojohead can explain further.

[islandbruin] 21/9/2018 23:24

Don't think Jaka Partners FZC and Gemini IT Consultants are KZ based. I'll bet Mojohead can explain further.

[casual47] 21/9/2018 22:15

Mojohead, if you have something to say just say it already.

[hguess16] 21/9/2018 22:07

Islandbruin,
Ask yourself: Who is Kumar ?. Medgat Kumar and our New Investor are both KZ based !.
KZ is a community where deals could be done.
So, I would not be surprised if Medgat Kumar and NI have already struck a deal to share the Tethys interest among the KZ family.
Just my guess !!!.

[islandbruin] 21/9/2018 21:33

Also noticed someone gave up 2000 share for a penny at the end of the day. Great way to manipulate potential investors over the weekend!

[islandbruin] 21/9/2018 21:19

Question for you informed folks. Is it possible that Kumar's warrants are void with the new investors? There's really not much info out there... But I can't understand the logic of buying in, knowing full well anything positive likely going to dilute the stock further.

[mojohead] 21/9/2018 21:18

As a matter of curiosity - can someone here maybe with UK legal background tell the statute of limitations of the 2010 Bribery Act?

And guess there are no actual Kumars present for notable time, gotta call them right names.

[hguess16] 21/9/2018 21:00

I think its 10% minimum to call an EGM.
But as I guess, NI may have sown up a deal with Olisol !.
It could be an oil deal with KZTG doing the gas !.

[1399peter] 21/9/2018 20:29

I thought it was Min 20% to call an EGM

[casual47] 21/9/2018 19:35

It's interesting that Olisol have dropped to 9.9%....as if by design the lowest amount under 10%.

Does the fact they are under 10% remove some rights they previously had as 10%+ shareholders?

What's the minimum % to be allowed to requisition an EGM?

[hguess16] 21/9/2018 19:35

I am guessing here but I think NI may have some influence on when and how Kumar will
exercise 192.3m warrants at 3.1 cents.
Let us not forget that that exercise would further dilute the shares by an additional
192.3m shares which would amount to a total of 827.5m.
The Tethys cake has got to be much bigger in order to accommodate 827.5m mouths to be fed !!!.

Another possible reason for low volumes and not much movement in the share price is because investors are WELL aware of being diluted with the entry of NI.

[casual47] 21/9/2018 19:25

The Kumars were brought in to effectively disenfranchise Olisol and reduce their voting power.

Let's hope the reason why the new NI were brought in wasn't because there has been a fallout with the Kumars too....

[casual47] 21/9/2018 19:23

Would be interesting if the Kumars exercised their warrants (96,150,000 each).

At the time it seemed the Kumars had a real steal going with getting nearly 20% of issued shares in exchange for only 1.5m dollars, but dilution has made that deal a wee bit less of a steal.

Still under 300k volume traded today and the share price even went briefly back down to 1 cent.

Not for the faint hearted.

[islandbruin] 21/9/2018 19:14

Thanks for the update

[hguess16] 21/9/2018 19:04

Major shareholders in Tethys following Warrants exercise

No of Shares (M) %
New Investor 127.0 19.9 )
Kumar 87.9 13.8 ) 33.7%
Pope 87.7 13.8
Olisol 63.0 9.9

total 365.6 57.4
Others 269.7 43.6

Total 635.3 100.0

Now that the warrants have been exercised, NI and Kumar hold the key to the future
progress of Tethys.
Still no word from Olisol about the new deal, which sounds promising and could mean
no more legal disputes with Tethys in the future !.
Market confidence could return when more info is known about plans for drilling of gas and oil wells with more real cash input with NI support.

[temporarily insane] 21/9/2018 16:01

Have a look at this one for the trades