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Tethys Petroleum Limited's board changes become effective

As previously indicated, there is to be a changing of the guard in the Tethys board room following the cash injection from Olisol

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Alexander Abramov will become joint non-executive chairman from today

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.

Quick facts: TETHYS PETROLEUM LIMITED

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TSX:TPL
Market: TSX
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