Friday, 03 December 2021 09:33 GMT

Tethys Petroleum Limited's board changes become effective


(MENAFN- ProactiveInvestors)Energy firm Tethys Petroleum Limited (LON:TPL TSE:TPL) has reminded investors that executive chairman John Bell is set to become joint non-executive chairman from today. As previously announced he will share the role with Alexander Abramov following the cash injection into Tethys by Olisol. The company has set a date of May 31 for its annual general meeting. Directors John Bell David Henderson David Roberts and Jim Rawls have all indicated they will not stand for re-election. The Kazakhstan-focused oil and gas junior confirmed earlier this month that Olisol would provide it with a $15mln convertible debt facility and convert most of Tethys's existing debt under an interim financing into Tethys shares. It is expected that once all of the refinancing is completed including a share placing Olisol will own around 42% of Tethys.


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