GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Sept. 3, 2015) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL) (LSE:TPL) announces in accordance with the provisions of the UK Listing Rules and Disclosure and Transparency Rule 3.1.2R ("DTR 3") that on 2 September 2015 it issued 63,465 restricted ordinary shares to its Executive Chairman, John Bell as part of his salary for services rendered to the Company during the one and a half month period up to and including 31 August 2015.
As detailed in the announcement released by the Company on 23 January 2015, the total number of restricted shares to be issued to John Bell was calculated by reference to a price of 16.84p and the place of issuance was Guernsey.
As a reminder to shareholders, during the first year of John Bell's service, 30% of his salary is being paid in restricted ordinary shares in the Company. These restricted ordinary shares rank pari passu to other ordinary shares in Tethys and do not represent a separate class of shares of Tethys. Following the issuance of these restricted ordinary shares John Bell holds an interest in a total of 386,648 ordinary shares in the Company, representing approximately 0.11% of the Company's issued ordinary share capital.
Application is being made for such restricted ordinary shares to be admitted to the Official List of the UK Financial Conduct Authority and to trading on the London Stock Exchange.
Total Voting Rights
Following the issuance of these restricted shares, the issued share capital of the Company consisted of 336,839,315 ordinary shares with voting rights attached (one vote per ordinary share). There are no ordinary shares held in Treasury. This total voting rights figure (336,839,315) may be used by shareholders and others with notification obligations as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
FOR FURTHER INFORMATION PLEASE CONTACT:
Clive Oliver
Corporate Secretary, Acting Chief Financial Officer
+44 1481 716899
OR
Billy Clegg / Georgia Mann, Camarco
+44(0) 20 3757 4980