Tethyan Resources Announces Change of Eligibility for Stamp Duty and Stamp Duty Reserve Tax Exemption

JERSEY, UK, Sept. 5, 2017 /CNW/ - Tethyan Resources plc ("Tethyan" or the "Company") announces that when the Company's ordinary shares commence trading on the TSX Venture Exchange on September 6, 2017 at the opening of that market (as announced on September 1, 2017), the exemption from payment of the 0.5% charge to Stamp Duty (Stamp Duty) and Stamp Duty Reserve Tax (SDRT) that currently exists on transfers of the Company's ordinary shares will no longer be available.

The exemption is available on transfers of a company's securities that are admitted to trading on a Recognised Growth Market (such as AIM) provided that the securities are not also listed on a Recognised Stock Exchange (such as TSX-V).  Therefore once Tethyan's ordinary shares are listed on both AIM and TSX-V they will become subject to the UK Stamp Duty and SDRT regime and will no longer be eligible for the exemption.

For the Company's ordinary shares that are traded outside of CREST, Stamp Duty would apply in the usual way and transferees should liaise with HMRC to settle the 0.5% duty payable and stamp the stock transfer forms evidencing transfers of the Company's ordinary shares.

For the Company's ordinary shares that are traded through CREST, the 0.5% SDRT charge would be collected from the transferees through CREST on any transfers of the Company's ordinary shares.

About Tethyan

Tethyan is incorporated in England & Wales (company registration number 3781581) and is a gold and copper mineral exploration company. Tethyan listed on AIM (TETH.L) in 2004 and will commence trading on the TSX Venture Exchange at market open on Wednesday, September 6, 2017, under the symbol "TETH". Exploration is conducted in the Tethyan Belt of Eastern Europe, in particular Serbia where we are acquiring a portfolio of quality precious and base metals projects with known mineralisation and compelling drill targets.

Sustainability is paramount to all Tethyan's activities. The long-term success of Tethyan is connected to our ability to operate in a socially and environmentally responsible way. We are committed to proactively implement sustainable health, safety and environmental management, as well as engage with local communities and all stakeholders. Tethyan's business philosophy is to adhere to good international best practice (GIIP) and implement the highest standards of corporate governance.

More information can be found on our website: www.tethyan-resources.com.

Cautionary Note

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the word "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This document contains forward-looking statements and assumptions pertaining to the listing of the Company's ordinary shares on the TSX Venture Exchange. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.

SOURCE Tethyan Resources PLC

Tethyan Resources PLC, Peter Mullens (CEO), [phone], [email protected]; Cairn Financial Advisers LLP (Nominated Adviser), James Caithie / Sandy Jamieson, [phone]