Tethys Share Discussion Threads

[fbrj] 12/10/2024 10:41

What we don't know is where these shares came from and how much Pope (clients) still retain from the 38% it held at 31 Dec 2023.

Overall this must be very good news - at the very least there should be some action/progress on the corporate front which, you never know, might actually be positive for the SP!

[bahamasoil] 12/10/2024 10:18

Are we sure that these shares are
a) Shares held in Treasury
b) Shares belonging to the three amigos from Kazakhstan
0r c) Shares held by Pope

Still interesting new player.

[1399peter] 12/10/2024 09:58

Most likely the licences depend on the deal.

[mount teide] 12/10/2024 09:39

Interesting development - With his long energy and commodity industry experience and contacts, and astute investment track record, this looks to be a very positive announcement for Tethy's incredibly patient shareholders.

First came across Kenes Rakishev at Central Asian Metals(CAML) - Kenes was a Director who astutely acquired a very material holding.

'Rakishev was ranked the fifth most influential businessman in Kazakhstan and the seventh richest person in Kazakhstan by Forbes Kazakhstan's annual ranking.

In 2018, Kenes Rakishev acquired a 22% stake in the London-listed gold miner Petropavlovsk PLC. He bought the stake from Viktor Vekselberg, who exited the company after a boardroom dispute with its founders.

Rakishev sold the stake in Petropavlovsk a year later to Roman Trotsenko having turned around the miner’s performance.

Forbes magazine has estimated Rakishev’s net worth to be $960 million.'


"Kazakhstan's oil and gas industry has been the bedrock of our country's growth for three decades since our independence. Natural resources, as an industry, has helped us grow economically and allowed us to partner with the West on ways and means to improve the industry, generate ideas, and innovate.

A few days ago, President Kassym-Jomart Tokayev, on the 125th anniversary of the nation's oil and gas industry, reiterated that the foundation of our country's development lies in this specific sector of the economy — and our course into the future, I might add." .... Kenes Rakishev July 2024

[cutliff2] 12/10/2024 08:35

You have to think that Fincraft ain't buying these without a license being granted soon.
Fingers and everything else crossed

[1399peter] 12/10/2024 08:18

Who'd have thought the KAZ gentlemen's club would want a bigger slice of the pie. Absolutely unbelievable but expected.
Tethys clearly being bullied into submission. Now what!

[ratfan] 12/10/2024 06:08

Just had a read of the Wikipedia of the guy who runs Fincraft. Looks like a very powerful character in the Kaz regime. Imagine he made them an offer they couldn't refuse...

[1399peter] 12/10/2024 03:16

Cheers jack,

pope off loading,

[j4ckster] 12/10/2024 02:59

FINCRAFT GROUP LLP ACQUIRES ORDINARY SHARES OF TETHYS PETROLEUM LIMITED

Canada NewsWire

ALMATY, Kazakhstan, Oct. 11, 2024

ALMATY, Kazakhstan, Oct. 11, 2024 /CNW/ - Fincraft Group LLP ("Fincraft") announced that it has entered into share purchase agreements providing for the purchase of an aggregate of 30,959,133 ordinary shares (the "Purchased Shares") of Tethys Petroleum Limited ("Tethys") through three private purchase transactions (collectively, the "Purchases"). The Purchased Shares represent approximately 26.95% of the issued and outstanding ordinary Shares of Tethys. Pursuant to the purchase agreements, the Purchased Shares will be acquired at a price of US$ 0.540570016 (C$0.7435 based on the Bank of Canada daily rate of exchange on October 10, 2024) per Purchased Share, for an aggregate purchase price of US$16,735,579.02 (C$23,018,115.39). The purchase of the Purchased Shares is subject to certain approvals and is expected to be completed during the fourth quarter of 2024.

Prior to giving effect to these transactions, Fincraft beneficially owned no Ordinary Shares.

Fincraft intends to acquire the Purchased Shares for investment purposes. Fincraft may, from time to time, acquire or dispose of ordinary shares or other securities of Tethys in the future, either on the open market, in private transactions, pursuant to an offer to acquire outstanding securities of Tethys, through a corporate transaction involving Tethys, through treasury issuances, exercises of convertible securities, or otherwise, in each case, depending on a number of factors, including general market and economic conditions and other available investment opportunities. Depending on market, economic and industry conditions, the business and financial condition of Tethys, and other relevant factors, Fincraft may develop other plans or intentions in the future relating to Tethys.

A portion of the Purchases will be completed from one seller in reliance on the private agreement exemption available under section 4.2(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids.

Tethys' head office is located at 802 West Bay Road, Grand Cayman, KY1-1205, Cayman Islands.

This news release is issued under the early warning provisions of applicable Canadian securities legislation. A copy of the early warning report filed in connection with the investment will be available on Tethys' profile on SEDAR at www.sedar.com or may be obtained by contacting Timur Seilov at [phone].

About Fincraft

Fincraft is a diversified holding company founded in 2014 and led by Kenges Rakishev. The Group operates in five key segments: oil & gas, mining & processing of metals, educational services, distressed asset management, and other activities. Fincraft is headquartered at Dostyk Avenue 300/26, Almaty, Kazakhstan A25D7Y.

SOURCE Fincraft Group LLP

View original content: hxxp://www.newswire.ca/en/releases/archive/October2024/11/c9202.html

Copyright CNW Group 2024

[1399peter] 11/10/2024 16:48

I'm just going for a tin of Heineken Cutliff 🍺. You have to be hopeful.

But not too much 😕

[cutliff2] 11/10/2024 16:41

Do I need to put the champagne 🍾 on ice for around 10pm tonight Peter 🤔
Probably not if going by form

[1399peter] 11/10/2024 15:53

A formal complaint regarding the Ministry's response has been submitted, with a resolution expected by October 11, 2024.

Let's see if tethys can manage the first one of those dates. 🤔

[parthus] 11/10/2024 00:15

Look at Filings
Management Report

[1399peter] 04/10/2024 19:05

Will they turn it around this time or will it be just another Tethys belly flop

[1399peter] 03/10/2024 18:22

10yrs of useless, WAKEY WAKEY !