The Board of Directors of Tethys Oil AB has resolved to conduct a private placement of 350,000 shares at SEK 30.75 per share, raising SEK 10.76 million before issue costs. The new issue will be carried out based on the authorization by the Annual General Meeting. The shares will be subscribed for by international institutional investors.
The new issue will increase the number of shares in the company to 28,788,600, resulting in a dilution of 1.2 per cent calculated on the current number of shares. The subscription price is in line with Tethys' current price on the stock market.
The proceeds from the private placement will be used as working capital.
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