On 13 September 2024, Roc Oil Company Pty Limited ("ROC") announced a recommended public cash offer to the shareholders of Tethys Oil AB (publ) ("Tethys Oil") to tender all their shares in Tethys Oil to ROC at a price of SEK 58.70 in cash per share (the "Offer"). On 18 December 2024, ROC declared the Offer unconditional and announced that the Offer had been accepted to such extent that ROC will become the owner of 89.98 percent of the shares and votes in Tethys Oil, and including the additional shares acquired by ROC outside of the Offer approximately 90.003 percent of the shares and votes in Tethys Oil, upon settlement of the Offer. Settlement of the Offer took place on 23 December 2024. ROC has also informed the board of directors of Tethys Oil that ROC will initiate a compulsory redemption of the shares in Tethys Oil not held by ROC, and requested that the board of directors of Tethys Oil applies for delisting of the shares in Tethys Oil from Nasdaq Stockholm.
Against this background, the board of directors of Tethys Oil has today, in accordance with ROC's request, applied for delisting of the shares in Tethys Oil from Nasdaq Stockholm and Nasdaq Stockholm has approved the Company's application. The last day of trading in the shares in Tethys Oil on Nasdaq Stockholm will be 10 January 2025.
For further information, please contact
Magnus Nordin, Managing Director, phone +46 8 505 947 00
Petter Hjertstedt, CFO, phone +46 8 505 947 00
ir@tethysoil.com
Tethys Oil AB (publ)
Tethys Oil is an oil exploration and production company with focus on onshore areas with known oil discoveries. The company's core area is the Sultanate of Oman, where it holds interests in Blocks 3&4, Block 49, Block 56 and Block 58. Tethys Oil has net working interest 2P reserves of 21.7 mmbo and net working interest 2C Contingent Resources of 15.5 mmbo and had an average oil production of 8,818 barrels per day during 2023. The company's shares are listed on Nasdaq Stockholm (TETY). Website: www.tethysoil.com
