Grand Cayman, Cayman Islands- Wednesday, July 20, 2011- Tethys Petroleum Limited (“Tethys Petroleum” or the “Company”) (TSX:TPL) (LSE:TPL), an independent oil and gas exploration and production company whose principal activities include the exploration for, and the acquisition, development and production of oil and natural gas resources in Central Asia, today announces that it has published and lodged with the UK Financial Services Authority a copy of its prospectus (the “Prospectus”) prepared in connection with the admission of its entire issued ordinary share capital to the standard category of the Official List of the Financial Services Authority and to trading on the main market of the London Stock Exchange (“Admission”).
It is expected that admission will become effective, and that dealings on the main market of the London Stock Exchange under the ticker symbol “TPL” will commence at 8:00 a.m. on 25 July 2011, subject to receipt of final approval from the Financial Services Authority and the London Stock Exchange.
The primary listing for the ordinary shares of Tethys Petroleum will continue to be the Toronto Stock Exchange in Canada and the Company will continue to retain its secondary listing on the Kazakhstan Stock Exchange.
The Company is not raising any funds or issuing any new shares in connection with its listing in London and, accordingly, the interests of existing shareholders of the Company will not be diluted as a result of Admission. There will remain 260,629,769 ordinary shares of the Company in issue upon Admission becoming effective.
Copies of the Prospectus will be available free of charge at the offices of Ashurst LLP, Broadwalk House, 5 Appold Street, London EC2A 2HA up to and including Admission. The Prospectus has also been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do. A copy of the prospectus will be made available on sedar at www.sedar.com and Tethys Petroleum’s Website at www.tethyspetroleum.com.
Arrangements for settlement of securities
In connection with Admission, the Company is setting up a UK depository facility (the “UK Depository”). The Company, through its UK Depository, will have a facility whereby (pursuant to a depositary deed to be executed by the UK Depository) depository interests, representing the Company’s ordinary shares, will be issued by the UK Depository to persons who wish to hold Tethys Petroleum ordinary shares in electronic format within CREST. The Company has applied for the depository interests, representing Tethys Petroleum ordinary shares, to be admitted to CREST with effect from Admission. Accordingly, settlement of transactions in depository interests representing the Tethys Petroleum ordinary shares on the London Stock Exchange following Admission may take place within CREST if the relevant shareholders so wish.
This announcement does not constitute an offer or invitation to any person to subscribe for or purchase any securities in the Company or any other entity.
This announcement constitutes an advertisement within the meaning of the Prospectus Rules of the Financial Services Authority, is not a prospectus and has been prepared solely in connection with Admission. Investors should not acquire ordinary shares in the Company except on the basis of information contained in the Prospectus published by the Company in connection with Admission.
Tethys Petroleum Limited
Vice President Investor Relations
+1 416 572 2065
+1 416 572 2201 (Fax)
Tethys Petroleum Limited
TD Canada Trust Tower
161 Bay Street, 27th Floor
Toronto M5J 2SD1, Canada
Mobile site: http://m.tethyspetroleum.com
Anita Wan, Associate Director
+ (852) 2217-2999
+ (852) 2217-2999 (Fax)