Tethyan Resources PLC Re: TSX-V Listing and Related Party Transaction (6664F)
19 May 2017 - 6:54PM
UK Regulatory
TIDMTETH
RNS Number : 6664F
Tethyan Resources PLC
19 May 2017
19 May 2017
TETHYAN RESOURCES PLC
UPDATE ON TSX-V LISTING AND RELATED PARTY TRANSACTION
Further to the announcement of 21 November 2016, Tethyan
Resources plc ("Tethyan" or the "Company") is pleased to announce
that it has made good progress with its application for a secondary
listing on TSX Venture Exchange which it expects to submit shortly,
and a further announcement will be made in due course.
In connection with this, the Company has engaged the services of
J. Proust & Associates Inc., a company controlled by John
Proust, a director of both the Company and Southern Arc, its 29.91%
shareholder, to provide finance, accounting and administrative
services to the Company in Canada in order to comply with public
listing requirements on the TSX Venture Exchange, for an amount
estimated at CAD $25,000 (approximately GBP14,000) (the "Related
Party Transaction").
As J. Proust & Associates Inc. is controlled by a director
of the Company, any transaction with it is deemed to be a related
party transaction under AIM Rule 13. Accordingly, all of the
directors other than John Proust, being the independent directors
of Tethyan for the purposes of the Related Party Transaction
consider, having consulted with the Company's nominated adviser,
Cairn Financial Advisers LLP, that the terms of the Related Party
Transaction are fair and reasonable insofar as the shareholders of
the Company are concerned.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Tethyan Resources PLC +44 1534 881 885
Peter Mullens (CEO) pjm@tethyan-resources.com
Cairn Financial Advisers
LLP +44 (0) 207 213 0880
James Caithie / Sandy
Jamieson
SP Angel Corporate Finance
LLP
Broker +44 (0) 20
Ewan Leggat 3470 0470
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLIFETELIALID
(END) Dow Jones Newswires
May 19, 2017 04:54 ET (08:54 GMT)
Tethyan Res (LSE:TETH)
Historical Stock Chart
From Apr 2024 to May 2024
Tethyan Res (LSE:TETH)
Historical Stock Chart
From May 2023 to May 2024