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9 months ago
BRIEF-Tethys Petroleum says gets share acquisition proposal from private investors
November 7, 2016 / 8:33 AM / 9 months ago

BRIEF-Tethys Petroleum says gets share acquisition proposal from private investors

Nov 7 (Reuters) - Tethys Petroleum Ltd

* Tethys petroleum - it has received non-binding proposals from private investors, winston sanjeev kumar soosaipillai and medgat to acquire ordinary shares in company

* Parties do not anticipate any other regulatory or merger control approvals to complete transactions

* If completed, placements will bring much needed funding to company

* Each investor would acquire approximately 9.9% of enlarged share capital of company

* Tethys petroleum - price for ordinary shares would be us$0.01593 per share a 24% premium for five trading days to november 4, 2016

* Proceeds would be used for general working capital purposes at discretion of newly reconstituted board of directors Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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