Gulf Oil and Gas accountACCOUNT

Tethys Petroleum Limited to Cancel Listing in the United Kingdom

Source: www.gulfoilandgas.com 3/17/2017, Location: Europe

Share |
Tethys Petroleum Limited (“Tethys” or the “Company”) today announces that it has applied to the United Kingdom Listing Authority (“UKLA”) to cancel the standard listing of the Company’s ordinary shares (the “Shares”) from the Official List of the UKLA and the cancellation of trading in the Shares on the Main Market of the London Stock Exchange (together, the “Cancellation”), following a determination by the Company that the costs of maintaining a dual listing on the London and Toronto stock exchanges is unnecessarily expensive for a company of Tethys’ size.

Following the Cancellation, the Shares will continue to trade on the Toronto Stock Exchange which should provide shareholders with liquidity and places sufficient corporate governance requirements upon the Company. Further, the Company’s conclusion, that the London listing be cancelled, is supported by the limited trading and liquidity of the Shares on the London Stock Exchange (meaning that limited benefit is brought by that listing).

Pursuant to Listing Rule 5.2.8, the Company announces that the cancellation notice period has now commenced and cancellation is expected to take effect at 7:00 am on Tuesday 2 May, 2017.

The Company currently has two share registers, a register maintained by Capita Asset Services in the UK and a register maintained by TSX Trust Company in Canada. It is the Company’s intention to transfer the shareholdings on the Capita Asset Services register to the TSX Trust Company register following the Cancellation which should result in further cost savings for the Company. Those shareholders affected will be contacted about this with further details in due course.

Oil & Gas Companies News in United Kingdom >>

Austria >>  7/17/2017 - Based on the first forecast for demand and non-OPEC supply (including OPEC NGLs and non-conventional oil) for the year 2018, the demand for OPEC crud...
United Kingdom >>  7/17/2017 - OneSubsea, a Schlumberger company, has been awarded an engineering, procurement, construction, installation and commissioning (EPCIC) contract for a s...

Austria >>  7/11/2017 - The refinery utilisation rate in the US averaged around 93% during May, corresponding to 17.2 mb/d. This represented an increase of more than 100 tb/d...
Austria >>  7/6/2017 - Oil futures on both sides of the Atlantic tumbled more than 4.5% m-o-m to their lowest value since November 2016. This was due to plentiful supplies, ...

Austria >>  7/5/2017 - Open interest (OI) increased in May for selected US commodity markets such as crude oil, natural gas and copper, while it declined for agriculture, co...
Greece >>  6/27/2017 - Wood Group has secured a new front end engineering design (FEED) contract with Gastrade S.A. for the Alexandroupolis Independent Natural Gas System (I...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

 

Oil & Gas Companies in United Kingdom >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.