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GGG do you actually hold any shares in I3?

Have you really voted?

Back to 15p in 12 months.

Maybe, if the corporate mess left behind by no deal can be cleared up.

But just a handful of punters will be voting no.

I imagine a hundred or more shareholding I3 employees will be voting yes.

Good luck to both of us. -

GGG

Well by the same logic you’re risking a 30% loss for an 10% improved offer when the legally binding scheme document says ‘no improved offer’ without a counter TO bid - which hasn’t materialised.

Horult

"I don't understand why you are still here bots "

Too much left on the table between the current SP and the deal. I'm sure you'd prefer me to sell up but, admit it. we're all having some fun.

It's good to debate this issue, there are good points made on both sides...

I'd add that I've been involved in several TOs and the BBs all look the same with shareholders saying 'not enough money'. Amost always the deal get done.

Revshep

Your sermons might actually be interesting but I don't agree with your no vote.

And if the deal fails (it won't) I'll be praying to (god) that i3e gets through this mess.

Stats, no rival offer has materialised. Thus no increase on this offer and no repeat attempt for 12 months.

If you are soooo wedded to I3e I suggest you take the GTE shares. Add to them with cash. You get all of I3 plus some significant oil wells in S America.

No increase

Yep, that’s what I saw too. I think they mean it.

No repeat TO attempt for 12 months also.

FD

I need to move my portfolio to low risk, as just retired (59).Thus this deal provides me with an oppo to sell i3 for mostly cash with a few legacy shares for longterm keeps. A sale of the legacy shares at £7 at some point will give me about £100k profit.

Is the deal good? No, it’s pants, but I turn a good profit off a two month investment. Sorry LT holders I feel for you.

Worst case scenario would be the deal fails and the SP retraces with a BoD who don’t want to do their day jobs and hate shareholders. Could go either way so I’m not gloating.

Perhaps Regent Gas have an interest, they bought TClarke up a few months ago? However my guts tell me this deal is done.

To create some balance, I think the combined company could be worth a mint if they’re able to pull deals off like i3e.

My 2.6m says yes - once I figure out how to vote.

I’m convinced the deal is going ahead. Many, many people have taken the i3e shareprice raise and sold. Those shares have been bought by scalpers who will definitely be voting yes. There are many who have sold and hoping to sucker those who still hold to vote against (so they can get cheap shares if the vote fails). Therefore people voting no are being played. A vote and sell will instantly invalidate your vote (tech will remove it).

It’s going to happen.

I'm kinda with you Sharesahoy.

There are some unpleasant comments towards Majid which are a bit squalid frankly.

Many will make money from this deal, but a few will loose (....it happens).

The deal is more of a merger than a takeover and the recent rise in GTE shares I would say has more to do with them consistently striking oil with the drill bit than any skullduggery.

So let me address the deal:-

For a 'merger' to succeed, it's vital that the resulting entity is in good finiancial health. I previously said that this deal is not a turkey, but a goose that's pregnant with a golden egg. That egg is in the form of GTE shares we get with the deal. The takeout price is low to ensure that that goose (the united company) survives. Once O&G prices bounce those legacy GTE shares will start to shine in our portfolios IMO.

Go back and read ‘IBB - Invest’ post about it being a merger dressed up as a takeover.

I’ve thought the same myself.

The mix and match accommodates shareholders who own I3e for the divi and may want out.

I've been thinking about the dividend - I think it's a red herring.

The acqusition dividend is just the ordinary due dividend tarted up as part of the offer (to be honest they must think we're stupid - but ironically have ended up looking stupid themselves).

So I3E goes exdividend and we have to vote 'for' the deal to receive payment???

Seriously?

MMs making a horse race out of this.

Silly me, I wasn’t aware that Bybrooke Capital were a hairs breadth away from a 30% interest in I3e. Few more and an offer could be made.

JPM also continue to acquire.

Yeah; "the 'acquisition' dividend" as part of the deal....

I bet they laughed and laughed and laughed .

If I'm not mistaken i3e have to continue with the quarterly divis until the deal is finalised.

FangKat

It must be all the buddying up with the Indigenous groups.

"Majid speak with forked tongue"

But seriously, how could Majid separate I3E from the enlarged GTE group to make broad predictions about a future that he knows (and we don't). They're two different futures- so I'm sure what he said was, to a large degree, factoring in the deal.

TN

"So I assume your voting yes."

Anything can happen between now and the vote..... :0)

There’s something missing to my mind.

Yes I totally agree that the process leading up to this deal has been hidden from shareholders and executed at the most opportune moment possible making it affordable for GTE. Not sure it would have gone ahead it I3 we’re at 20p.

But….. and it’s a big BUT, why did I3 go to all this effort to accommodate a poor man’s deal?

After all, whomever would have bought them out would have lined their palms with silver.

I’m tempted to think (perhaps wrongly) that there is a strategic reason behind this. For example the enlarged company will have east and Westbourne shipping Channels. A mix of oil and gas. Skirting the USA without being within it (thus reducing political risks). On the other hand GTE shareprice growth could be phenomenal with a derisked larger company, all the share buybacks they’ve done.

Also, and I’m guessing here, is there another deal beyond this in the wings. I note on the GTE slide 9 it says under ‘growth opportunities’ (in bold)

“Stronger platform for additional M&A growth”

I wonder if folk are seeing this deal wrongly.

I3 made the choices they did for strategic reasons, not for greed. That the cash and dividend given to i3 shareholders is poor, but I just wonder if that disappointingly small parcel of shares, once opened, may just turn out to be a flawless diamond.

IMO DYOR

Yeah and hopefully convince the main board to pay a divi