ALMATY, Kazakhstan, April 11, 2025 /CNW/ - Fincraft Group LLP ("Fincraft") announced that it has entered into share purchase agreements providing for the purchase of an aggregate of 6,768,148 ordinary shares (the "Purchased Shares") of Tethys Petroleum Limited ("Tethys") through two private purchase transactions (the "Purchases"). The Purchased Shares represent 5.89% of the ordinary shares outstanding. Pursuant to the purchase agreements, the Purchased Shares will be acquired at a price of C$0.9480 per Purchased Share, for an aggregate purchase price of C$6,416,204.30. The purchase of the Purchased Shares is subject to certain approvals and is expected to be completed during the second quarter of 2025.

Prior to the entry into of the agreements in respect of the Purchases, Fincraft owned an aggregate of 30,959,133 ordinary shares of Tethys, representing 26.95% of the outstanding Tethys ordinary shares. Fincraft is also party to a share purchase agreement, pursuant to which it is entitled to acquire a further 8,443,398 ordinary shares, representing approximately 7.35% of the outstanding Tethys ordinary shares, which, together representing 34.31% of the ordinary shares outstanding. After giving effect to the Purchase, Fincraft will have acquired ownership or have deemed beneficial ownership of an aggregate of 46,170,679 ordinary shares, representing 40.20% of the ordinary shares outstanding. This represents an increase of approximately 5.89% from Fincraft's securityholding percentage of the ordinary shares disclosed in the December 10, 2024 press release.

Fincraft intends to acquire the Purchased Shares for investment purposes. Fincraft may, from time to time, acquire or dispose of ordinary shares or other securities of Tethys in the future, either on the open market, in private transactions, pursuant to an offer to acquire outstanding securities of Tethys, through a corporate transaction involving Tethys, through treasury issuances, exercises of convertible securities, or otherwise, in each case, depending on a number of factors, including general market and economic conditions and other available investment opportunities. Depending on market, economic and industry conditions, the business and financial condition of Tethys, and other relevant factors, Fincraft may develop other plans or intentions in the future relating to Tethys.

The Purchase will be completed from two sellers in reliance on the private agreement exemption available under section 4.2(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids.

Tethys' head office is located at 802 West Bay Road, Grand Cayman, KY1-1205, Cayman Islands.

This news release is issued under the early warning provisions of applicable Canadian securities legislation. A copy of the early warning report filed in connection with the investment will be available on Tethys' profile on SEDAR+ at www.sedarplus.ca or may be obtained by contacting Timur Seilov at +7 (727) 355-0151.

About Fincraft

Fincraft is a diversified holding company founded in 2014 and led by Kenges Rakishev. The Group operates in five key segments: oil & gas, mining & processing of metals, educational services, distressed asset management, and other activities. Fincraft is headquartered at Dostyk Avenue 300/26, Almaty, Kazakhstan A25D7Y.

SOURCE Fincraft Group LLP

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