AMSTERDAM, THE NETHERLANDS--(Marketwired - Jul 13, 2015) - Tethys Petroleum Limited (
TSE: TPL (ISIN : KYG876361091)
LSE: NOG (ISIN : GB00BGP6Q951)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
Nostrum Oil & Gas plc
Approach to Board of Tethys Petroleum Limited ("Tethys") regarding a possible offer
Nostrum Oil & Gas PLC (
The possible offer Nostrum has proposed to the Board of Tethys would provide for a price of C$0.2185 per Tethys share (whether in cash or Nostrum shares or a combination of both, as determined by Nostrum). This price represents a premium of 15% to the price at which AGR Energy has agreed to subscribe for new ordinary shares in Tethys (as announced by Tethys on 1 July 2015). This price represents a premium of 46% to the closing market price of an ordinary share on the TSX of C$0.15 on 9 July 2015 and a premium of 143% to the closing market price of an ordinary share on the TSX of C$0.09 on 14 May, the day prior to the announcement by Tethys of a convertible loan financing with AGR Energy.
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