Tethys Petroleum Press Release: Annual General Meeting Results
Tethys Petroleum (TSXV: TPL) held its Annual General Meeting on August 11, 2025, where shareholders voted on several key resolutions. Four directors were successfully elected to the board: Adeola Ogunsemi, Mattias Sjoborg, Don Streu (with 99.9% approval), and William Wells, each receiving 54.9% of votes. Three proposed directors - Askar Ismailov, Paul J. Ostling, and Piers Johnson - were not elected.
A significant development was announced regarding an arbitration award issued on May 13, 2025, ordering the cancellation of 18 million Tethys shares previously issued to Olisol Petroleum. This affects shares subsequently transferred to Gazexport Limited, resulting in the exclusion of 12,987,381 shares (74.06%) from Gazexport Limited's voting rights at the meeting.
Tethys Petroleum (TSXV: TPL) ha tenuto la sua Assemblea Generale Annuale l'11 agosto 2025, durante la quale gli azionisti hanno votato su diverse risoluzioni chiave. Quattro amministratori sono stati eletti nel consiglio: Adeola Ogunsemi, Mattias Sjoborg, Don Streu (con il 99,9% di approvazione) e William Wells, ognuno dei quali ha ricevuto il 54,9% dei voti. Tre candidati proposti - Askar Ismailov, Paul J. Ostling e Piers Johnson - non sono stati eletti.
脠 stato annunciato un importante sviluppo riguardo a un lodo arbitrale emesso il 13 maggio 2025, che ordina l'annullamento di 18 milioni di azioni Tethys precedentemente emesse a Olisol Petroleum. Ci貌 riguarda le azioni successivamente trasferite a Gazexport Limited, comportando l'esclusione di 12.987.381 azioni (74,06%) dai diritti di voto di Gazexport Limited all'assemblea.
Tethys Petroleum (TSXV: TPL) celebr贸 su Junta General Anual el 11 de agosto de 2025, donde los accionistas votaron varias resoluciones clave. Se eligieron con 茅xito cuatro directores al consejo: Adeola Ogunsemi, Mattias Sjoborg, Don Streu (con un 99,9% de aprobaci贸n) y William Wells, cada uno recibiendo el 54,9% de los votos. Tres directores propuestos 鈥擜skar Ismailov, Paul J. Ostling y Piers Johnson鈥� no fueron elegidos.
Se anunci贸 un desarrollo significativo respecto a un laudo arbitral emitido el 13 de mayo de 2025, que ordena la cancelaci贸n de 18 millones de acciones de Tethys previamente emitidas a Olisol Petroleum. Esto afecta a las acciones transferidas posteriormente a Gazexport Limited, resultando en la exclusi贸n de 12.987.381 acciones (74,06%) de los derechos de voto de Gazexport Limited en la junta.
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欷戩殧頃� 氚滌爠鞙茧 2025雲� 5鞗� 13鞚检棎 氚滍枆霅� 欷戩灛 韺愳爼鞚� 氚滍憸霅橃棃電旊嵃, 鞚措姅 Olisol Petroleum鞐� 鞚挫爠鞐� 氚滍枆霅� 1,800毵� 欤检潣 Tethys 欤检嫕鞚� 旆唽頃橂澕瓿� 氇呺牴頄堨姷雼堧嫟. 鞚� 韺愳爼鞚� 鞚错泟 Gazexport Limited搿� 鞚挫爠霅� 欤检嫕鞐� 鞓來枼鞚� 氙胳硱 齑� 12,987,381欤�(74.06%)臧� 須岇潣鞐愳劀 Gazexport Limited鞚� 鞚橁舶甓岇棎靹� 鞝滌櫢霅橃棃鞀惦媹雼�.
Tethys Petroleum (TSXV: TPL) a tenu son assembl茅e g茅n茅rale annuelle le 11 ao没t 2025, au cours de laquelle les actionnaires ont vot茅 plusieurs r茅solutions cl茅s. Quatre administrateurs ont 茅t茅 茅lus avec succ猫s au conseil : Adeola Ogunsemi, Mattias Sjoborg, Don Streu (avec 99,9 % d'approbation) et William Wells, chacun obtenant 54,9 % des voix. Trois administrateurs propos茅s 鈥� Askar Ismailov, Paul J. Ostling et Piers Johnson 鈥� n'ont pas 茅t茅 茅lus.
Un d茅veloppement important a 茅t茅 annonc茅 concernant une sentence arbitrale rendue le 13 mai 2025, ordonnant l'annulation de 18 millions d'actions Tethys pr茅c茅demment 茅mises 脿 Olisol Petroleum. Cela concerne les actions transf茅r茅es par la suite 脿 Gazexport Limited, entra卯nant l'exclusion de 12 987 381 actions (74,06 %) des droits de vote de Gazexport Limited lors de l'assembl茅e.
Tethys Petroleum (TSXV: TPL) hielt seine Jahreshauptversammlung am 11. August 2025 ab, bei der die Aktion盲re 眉ber mehrere wichtige Beschl眉sse abstimmten. Vier Direktoren wurden erfolgreich gew盲hlt: Adeola Ogunsemi, Mattias Sjoborg, Don Streu (mit 99,9% Zustimmung) und William Wells; jeder erhielt 54,9% der Stimmen. Drei vorgeschlagene Direktoren 鈥� Askar Ismailov, Paul J. Ostling und Piers Johnson 鈥� wurden nicht gew盲hlt.
Es wurde eine bedeutende Entwicklung bez眉glich eines Schiedsspruchs vom 13. Mai 2025 bekanntgegeben, der die Annullierung von 18 Millionen zuvor an Olisol Petroleum ausgegebenen Tethys-Aktien anordnet. Dies betrifft Aktien, die anschlie脽end auf Gazexport Limited 眉bertragen wurden, und f眉hrte zum Ausschluss von 12.987.381 Aktien (74,06%) aus den Stimmrechten von Gazexport Limited auf der Versammlung.
- Grant Thornton LLP appointed as auditors
- Don Streu received strong shareholder support with 99.9% votes in favor
- Successful arbitration award leading to cancellation of disputed shares
- Three proposed directors failed to receive sufficient votes for election
- Ongoing legal proceedings regarding share cancellation
- Objections from major shareholders Gazexport Limited and Fincraft Group LLP
Grand Cayman, Cayman Islands--(Newsfile Corp. - August 11, 2025) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") today announces the results of the Annual General Meeting held on August 11, 2025 (the "Meeting").
The following resolutions put to shareholders at the Meeting were passed on a poll at the Meeting:
1. Receipt of Financial Statements and Auditors Report;
2. Election of Directors:
2.1 Adeola Ogunsemi – 43,252,561 votes For
2.2 Mattias Sjoborg – 43,252,561 votes For
2.3 Don Streu – 78,760,609 votes For
2.4 William Wells – 43,252,561 votes For
3. Appointment of Auditors - Grant Thornton LLP
The following resolutions put to shareholders at the Meeting were not passed on a poll at the Meeting:
2.5 Askar Ismailov – 35,508,048 votes For
2.6 Paul J. Ostling – 35,508,048 votes For
2.7 Piers Johnson – 35,508.048 votes For
At the Meeting, the Chair advised that, on May 13, 2025, Dr. Galina Zukova, the sole arbitrator, appointed by the International Arbitration Centre in Kazakhstan, issued an arbitral award that included an order cancelling 18 million shares of Tethys that were issued to Olisol Petroleum on May 29, 2020. The arbitral award has been recognized by the Court in Kazakhstan and Tethys is in the process of applying to have the arbitral award recognized in Ontario. Olisol Petroleum transferred 17,536,296 shares of Tethys to Gazexport Limited after it became aware of Tethys' intention to commence the arbitration and after the arbitration had been commenced. The arbitral award and the cancellation of these 18 million shares of Tethys results in the cancellation of all, or a substantial proportion of the 17,536,296 shares held by Gazexport Limited. The Gazexport Limited shares represent
About Tethys
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. Tethys believes that significant potential exists in both exploration and in discovered deposits in the area.
Disclaimer
Some of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
| Tethys Petroleum | |
| Casey McCandless | |
| Chief Financial Officer | [email protected] |
| 901-763-4001 |
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FAQ
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