Rang Them a Geologist answered he didn't know to much about Lilley .
But it appears he might of been among the directors forced out by Pope Asset managers around 18th November 2014.
They agitated for changes.
Thank you for posting your letters Elinesterado.
Did you hold and stay with them after transfer ? ( as i did , but not with ii )
There was a awful right up in London evening standard business section yesterday portraying them like some sort of gangsters .
I can not see when RT Hon Peter Lilley resigned ... I can recall when he made a big stand against benefit cheats..... the irony.
Thank you for your secure message dated 2 June 2017.
With regards to your holding in Tethy??s Petoleum, if there was a press release for this stock we would not notify you about it, this is your own responsibility to monitor this. We are an execution only broker and we only notify you of any corporate actions on your stock.
We do trade on the Toronto Stock Exchange but it depends on the stock itself as to whether we can trade the stock or not. We can issue a physical share certificate and this will cost 20 GBP but again it depends if the stock is able to be withdrawn to a certificate and we will not know this until after 23 June 2017. You are the registered shareholder but it is held through our nominee account which is Investor Nominees Limited.
Should you have any further enquiries, please do not hesitate to get in touch again. Our response time to secure message or email is usually 1 working day, although in times of high volumes we may take up to 5 working days.
If they knew this yesterday then could they not have responded with these details then? Odd.
Sent to Interactive Investor this morning:
Dear Mr. .......
Thank you for your reply.
Regardless of the worth or the size of any given investment, the situation as it has been allowed to evolve is highly unsatisfactory in terms of client liaison by both Tethys and - regrettably - Interactive Investor.
When I wrote to you, I had a need for much more concise information as to what is happening with respect to the delisting of Tethys Petroleum from the LSE. Since your reply stated the situation, but really offered no sense of attempting to resolve the situation on my and others behalf, I have therefore telephoned Tethys Petroleum this morning and spoke to a Clive Oliver.
The amalgamation of the two share registers, Canadian and British, will occur after the AGM of the 23rd June. The British register is held by Capita.
I strongly made the point to Clive Oliver that there was no pre-advice of this action to myself as an Interactive Investor client and therefore no opportunity to have a chance to decide what I wished to do with this situation before it occurred.
He said that they had published their intention on their website and issued a press release through Marketwired, which is a NASDAQ owned, Toronto based, service. I have checked this and both occurred on the 24th March 2017.
There are issues here:
i) Why would UK based investors be aware of a press release through a Canadian service?
ii) Since the event would primarily affect UK investors, why was a UK based service not used instead or as well?
iii) How is it that Interactive Investor only advised its clients on the 9th of May, one week after the cancellation of the shares on the 2nd May and over 6 weeks after the Toronto press release and the Tethys website item?
Can you clarify for me at this point :
i) whether Interactive Investor have the facility to trade on the TSX?
ii) whether Interactive Investor can issue a physical share certificate?
iii) who is the registered shareholder of all the shares that Interactive Investor clients hold in Tethys?
I got an e-mail for tpl ( link contact on there web site ) .. saying contact broker hey should be trf automatically .
Might take a wile after reading your post but your broker not having a platform to do so would be more aggro and stress. you will see i sold and brought back due to that.
Following our telephone conversation on 08/05/17, your Stock listing in the UK for this security (Tethys Petroleum Limited) was cancelled 02/05/2017 - the notification received in respect of this reads as follows "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. Those shareholders affected will be contacted about this with further details in due course."
"There are no facilities in place for TD Direct Investing to transfer the holding electronically from the UK to Canada at this time and we will therefore require the further information and assistance from the Registrar (Capita) to which the notification refers.
All affected Shareholders will be formally notified by TD Direct Investing as soon as we receive the full details from Capita.
hey guys I note that I have lost 100k of tpl stock from my portfolio, (T D Waterhouse) before I tear into them as to how I now access or otherwise these shares, could anyone give me any advice on how I now sell these shares as the advice from TDW will probably be biased towards their benefit,not mine,any help appreciated thanks guys.
Missing a t on third word below.
looks like it was the Tuesday 2nd may for cancellation, therefore Friday 28 April was last day ( good for MM just before bank holiday lol )
indicted today by the sell and buy tabs above here turning grey..
Tethys Petroleum Press Release : Update on Gas Drilling program and Extension of Related Loan
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - March 29, 2017) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") today announces that Great Wall Drilling Company was the winner of a tender for a ten well shallow gas well drilling program. Tethys now has ten (10) days to sign a contract with Great Wall, the cost of which drilling is expected to be approximately $6 million USD. The Company will have until the end of 2018 fiscal year to pay these costs and expects to be able to pay from increased production. Following mobilization, the Company hopes to begin drilling on or about May 1, 2017. Additionally, the Company will work over three existing wells and tie in two wells drilled but not tied into production. This program is designed to add twelve (12) or more new wells to existing production.
The Company also announces the signing of a lease contract with MSI to build and install a mini-compressor in Bozoi. Installation is expected during the July 2017 time period. This is new technology for Central Asia and is intended to enhance gas production prior to the new wells being tied in. After new production is tied in, then the mini-compressor will be used on older wells to extend the life of wells.
While the Company will continue to reduce operational costs, our focus this year is increasing production of both oil and gas. Additionally, we will seek to enhance pricing. Until these goals can be achieved, Tethys will continue to experience a cash flow problem and a need for funding.
The Company has received approval of the needed lenders to extend the $3.5 million loan that is secured by the drilling rigs of the Company by 18 months to August 2018. Additionally, the Company is in discussions with both Khan Energy and AGR Energy to extend the indebtedness owed to each of them which is currently due in March and June 2017 respectively.
Is Peter Lilley MP still a non executive director ?
Read a report he was in 2006 , some years later report in guardian pointing out they paid him £47000 one year, and £12000 for 30 hours of work.
Seems its his type who win big in the share game not the punters.
I bought into this share at 55p in 2013. Did I stumble onto a company run by one of the most inept boards in Canadian corporate history? Just what have these people done for their shareholders? Surely it is time for them to resign (assuming they have a moral compass) or get booted out at the next AGM. What now for the shareholders on the London exchange? These people must be real armatures when you look at the decline in the value of the company and the strategic mistakes they have made.
February 1, 2017
Tethys Petroleum Press Release Wednesday, February 1, 2017 - Court Ruling in Favour of Tethys and Unblocking of Bank Accounts
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Feb. 1, 2017) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL)(LSE:TPL) today announces that on January 25, 2017 the Almaty City Court found in favour of Tethys' wholly owned subsidiary, Tethys Aral Gas LLP ("TAG"), in rejecting the appeal of Eurasia Gas Group LLP ("EGG") against the previous court ruling of December 26, 2016, which also found in favour of TAG.
As a result of EGG's claim against TAG, restrictions have been in place over TAG's bank accounts pending the hearing of EGG's appeal. Following the rejection of EGG's appeal, TAG applied to the court to have these restrictions removed which the court has approved and which have now been implemented. TAG can now operate its bank accounts normally and has full and unrestricted access to its bank accounts.
Perhaps you need to sign up to their e mail service. ii often fail to publish in my experience.
January 30, 2017
Tethys Petroleum Press Release Monday, January 30, 2017 - Results of Extraordinary General Meeting
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Jan. 30, 2017) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL)(LSE:TPL) today announces the results of the Extraordinary General Meeting ("EGM") held on January 27, 2017.
Extraordinary General Meeting
All resolutions put to shareholders at the EGM were passed on a poll at the meeting.
Details of the voting on a poll on those resolutions voted on at the EGM, including votes represented by proxies, are as follows:
1. The Warrant Exercise Resolution 114,043,831
2. The Debt Conversion Resolution 113,663,831
In accordance with applicable Toronto Stock Exchange and Canadian Multilateral Instrument 61-101 rules the votes in respect of the Warrant Exercise Resolution exclude any votes attaching to ordinary shares beneficially owned by Jin Guang Ltd., the nominee company of Medgat Kumar and Prax Pte Ltd., the nominee company of Winston Sanjeev Kumar Soosaipillai.
Shares owned by Jin Guang Ltd. and Prax Pte Ltd. each account for 8.6% of the ordinary shares issued by the Company. If all 192,300,000 warrants are exercised and assuming the Annuity and Life Reassurance Ltd. ("ALR") loans are converted at maturity into 186,316,064 ordinary shares then Jin Guang Ltd. and Prax Pte Ltd. would each own approximately 15.8% of the enlarged number of ordinary shares.
Similarly, the votes in respect of the Debt Conversion Resolution exclude any votes attaching to ordinary shares beneficially owned or controlled by Pope Asset Management LLC, Annuity and Life Reassurance Ltd. ("ALR") or their affiliates.
Together these shares account for 17.3% of the ordinary shares issued by the Company. If the ALR loans are converted at maturity and assuming conversion of the warrants owned by Jin Guang Ltd. and Prax Pte Ltd. the percentage of the enlarged number of ordinary shares owned by Pope Asset Management LLC, ALR and their affiliates would be approximately 30.9%.
Tethys Petroleum Press Release, Friday, January 20, 2017 - New Director Appointment
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Jan. 20, 2017) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") is pleased to announce the appointment of Medgat Kumar to the Board of Directors of the Company effective today.
Medgat Kumar is the owner and Director of Petro Impex Trade LLP. Petro Impex Trade LLP is a Kazakhstan based company whose primary activities are trading of crude oil and petroleum products, oil refining and terminals businesses.
2) Location: Atlanta, Georgia, USA
2017-01-27 16:00:00 UTC
An extraordinary general meeting of the shareholders of Tethys Petroleum Limited will be held at the Embassy Suites by Hilton Atlanta Airport, 4700 Southport Road, Atlanta, Georgia, 30337 on January 27, 2017 at 11:00am EST.
Tethys Petroleum Ltd
Completion of Private Placements
TETHYS PETROLEUM LIMITED
TSX, LSE SYMBOL: TPL
November 29, 2016
Completion of Private Placements
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Nov. 29, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL)
("Tethys" or the "Company") today announces that it has completed the previously announced private placements
("Placements") with Winston Sanjeev Kumar Soosaipillai and Medgat Kumar (each, an "Investor" and together, the
"Investors"). The Placements bring much needed funding to the Company as well as provide it with strong in-country
partners in Kazakhstan and internationally.
The key commercial terms of the Placements are summarized below.
Summary of Placements
-- The Investors, through nominee companies, have each acquired 43,951,698
ordinary shares of Tethys which results in each Investor individually
acquiring approximately 9.0% of the enlarged share capital of the
The price for the ordinary shares is US$0.01593 per share representing a
24% premium to the five day volume weighted average price preceding the
November 6, 2016 offer date ("VWAP"). The total proceeds amount to
approximately US$1.4 million.
-- The Company has granted each Investor share purchase warrants giving
each Investor the right to acquire up to 96,150,000 ordinary shares of
Tethys for a period of three years from the grant date. The exercise
price for the warrants is US$0.031 representing a 138% premium to the
VWAP. If both Investors were to exercise all of the Warrants granted to
them, each Investor would own approximately 19.9% of the ordinary shares
of the enlarged share capital of the Company. Neither Investor may
exercise any warrants if after such exercise, the Investor would become
a 10% shareholder of the Company until such time as the Toronto Stock
Exchange ("TSX") has approved a personal information form (a "PIF") to
be submitted by such Investor. Further, the Investors may not exercise
more than an aggregate of 12,097,816 warrants unless shareholder
approval has been obtained for such exercise. The Company has agreed to
call and hold a shareholder meeting for shareholders to consider, and if
thought fit, approve the exercise of such warrants as soon as reasonably
practicable and in any event within 60 days from the date hereof. The
Company has also agreed that should the shareholders not approve the
exercise of such warrants, the Company will be required to pay to the
Investors, for each outstanding warrant that may not be exercised, the
amount by which the then VWAP exceeds the exercise price of the warrant.
-- In connection with the Placement, the Investors have entered into voting
agreements with Pope Asset Management or its affiliates, pursuant to
which such shareholders have agreed to vote or use their commercially
reasonable efforts to cause the voting of shares held by them in favour
of the warrant exercise. In total, such shareholders hold approximately
16% of the currently outstanding shares.
-- The Company has agreed to work with Annuity Life and Reassurance
("ALR"), an affiliate of Pope, to convert approximately US$168,000 of
debt owing to ALR into approximately 12,000,000 ordinary shares, all
subject to approval by the TSX. Any such shares so issued will be
subject to the voting agreement referred to above.
-- Each of the Investors will be appointed to the Board of Directors of the
Company once the Investor has filed a PIF with the TSX, provided that
each Investor will agree to resign from the Board of Directors if the
TSX does not approve the PIF so filed.
-- The Company intends to use the proceeds of the Placements for general
working capital purposes.
-- The Investors have entered into a Relationship Agr
October 27, 2016
Tethys Petroleum Press Release Thursday, October 27, 2016 - Update Regarding C$9.8 Million Private Placement with Olisol Investments Limited and Olisol Petroleum Limited
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Oct. 27, 2016) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL)(LSE:TPL) today announces that the previously announced C$9.8 million private placement with Olisol Investments Limited and Olisol Petroleum Limited (together "Olisol") has not closed by the October 27, 2016 outside date under the Amended and Restated Investment Agreement dated April 28, 2016 ("Investment Agreement"). Tethys took all steps required to close the private placement and was ready, willing and able to do so, however, Olisol failed to provide Tethys with any of the C$9.8 million purchase price required to purchase the subscription shares under the Investment Agreement. Therefore, Tethys considers Olisol to be in breach of the Investment Agreement and reserves all of its legal rights.
Olisol has now sent a letter claiming that it is entitled to terminate the Investment Agreement as a result of a Material Adverse Change (as defined in the Investment Agreement) having occurred. In addition, Olisol has also demanded immediate repayment, in full, of the outstanding US$5.7 million of working capital indebtedness under the terms of the Facility Agreement between Tethys and Olisol dated November 19, 2016 ("Facility Agreement") as Olisol is alleging an event of default under the Facility Agreement. Tethys disagrees with Olisol that it has the right to terminate the Investment Agreement and further disagrees that there has been an event of default under the Facility Agreement and that the amount is repayable.
On October 26, 2016 the Company was notified of a claim lodged by Eurasia Gas Group LLP ("EGG") in the Almaty City Court against the Company's subsidiary Tethys Aral Gas LLP ("TAG"). EGG is seeking an award equivalent to US$2.6 million at current exchange rates for the alleged failure by TAG to deliver certain minimum volumes of crude oil to EGG. EGG is a company whose principal is also a principal of Olisol. EGG's claim follows TAG's recent formal notification to EGG requiring it to settle long overdue unpaid oil sales debts of US$1.3 million within 10 days or TAG would take Court action against EGG to recover those debts. The Company's view is that the claim is without merit or substance as TAG has no contractual obligation to deliver minimum volumes of crude oil to EGG, nor is there any penalty clause in contracts entered into between TAG and EGG for failure to deliver minimum volumes of crude oil. The Company is also of the view that EGG has not followed correct legal process which requires it to notify the Company at least 30 days prior to filing a claim with the Court. A preliminary Court hearing date has been set for November 1, 2016. As a consequence of EGG's Court claim the bank accounts of TAG have been blocked.
October 1, 2016
Tethys Petroleum Press Release Friday, September 30, 2016 - Kazakhstan Legal Proceedings
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Sept. 30, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") today announces that the Almaty City Court's Board of Appeals has found in favour of Tethys by dismissing the previously announced appeal of the claimant and upholding the earlier Court decision on August 24, 2016 to lift the seizure order over the Company's assets. The Court's decision is effective immediately, there is no right of further appeal and restrictions over the operation of the Company's bank accounts in Kazakhstan have been lifted.
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