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New GTE shares likely to be LSE listed.

We are awaiting the scheme document to be published in 20 days or so with the details and timelines, but I found this in the Rule 2.7 announcement (website) under "Background to and reasons for the Acquisition"

I quote

"Increased trading liquidity and investor access: Gran Tierra maintains a primary listing on the NYSE American, where it trades significant volume, with additional listings on the London Stock Exchange and the TSX. With i3 Energy Shareholders expected to own up to 16.5 per cent. of Gran Tierra on completion of the Acquisition, the

Acquisition is expected to provide enhanced trading liquidity for the Combined Group's shareholders across exchanges and provide continuity of trading venues for i3 Energy Shareholders. Additionally, with increased scale, Gran Tierra expects to be increasingly relevant to a larger pool of international equity and credit investors, with the potential for this to have further benefits in terms of trading liquidity and valuation multiple expansion."

Seem clear to me...

If your broker deals international shares (most do) then you can buy and sell within the ISA. There will be an exchange rate implication per trade, but assuming you are not a US citizen, there is no US or UK tax within the ISA wrapper.

Just been through another TO and this is how it goes.....

1/ Offer is made

2/ Price jumps up.

3/ PIs complain that the deal undervalues the TO target.

4/ The SP dips a bit as loads of PIs and some IIs sell out.

5/ The Bbs grow quieter (can take a couple of weeks).

6/ Then folk who see merit in the deal take over the Bbs

7/ Arbitrage and opportunistic buyers enter to scalp the price.

8/ The SP starts to move towards the target price as confidence grows in the deal.

The variability of the GTE shares which form part of the deal is a bit of a curveball when it comes to making predictions, but given the beautiful, cash rich jewel of an asset GTE are acquiring on the cheap, I think their shareprice will dip then rise above the deal baseline price as we move to finalisation; especially as confidence grows that the deal will complete. In other words we will get a boost to the offer via the SP.

GTE is hugely undervalued and their acquisition solves so many of the reasons why they are undervalued.

Did you read that article I linked in - thought not:

https://seekingalpha.com/article/4699676-gran-tierra-energy-swinging-for-the-fences

Apart from my optimisim, and wish to continue to invest in i3's Canada assets, if I sold at 12.24p I'd be leaving about £38k on the table - that's not happening.

I vote YES

Good luck all....

From PT on the other channel

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The deal looks terrible, and I understand why investors are squealing.

• The cash offer is derisory

• The dividend; we’d get that anyway, right?

• Then we have those GTE shares – who wants them?

So, I don’t understand why I3 would agree to this. Was it really all about directors bonuses – they’re wealthy already?

--------HUMOR ME--------

So, let’s go back to Majid’s comments from I3e:

“We believe this acquisition presents an exceptional opportunity for i3 Energy’s shareholders. It reflects the culmination of a comprehensive process to maximize shareholder value and offers significant upside potential.”

Now Gary Guidry, CEO of Gran Tierra’s comments:

“By integrating these high-quality, operated assets—characterized by low-decline production, large resources, and a substantial land base—we are not only enhancing our asset portfolio but also aligning with our long-term strategic vision.”

Neither Majid or Gary are talking about the deal as it is TODAY, they’re talking about how the synergy or merger of the two companies can create a highly valuable mid-tier O&G company with fantastic potential. For I3E we will have access to the trans Canadian pipelines and transportation of our products to Europe and the east. GTE already have logistics to the West Coast in Ecuador and Columbia. Weaknesses within the two companies are supported by the other in a symbiotic-like relationship. The perfect marriage.

I strongly suggest investors read the following before selling out in disgust.

https://seekingalpha.com/article/4699676-gran-tierra-energy-swinging-for-the-fences

Like I3e’s shareprice, GTE has laso been beaten up, just look at the long-term chart. But unlike many companies where the share-price gets increasingly diluted over time meaning former highs can never be achieved again, GTE have embarked on an aggressive share-buyback programme to maintain the ‘underlying’ value of the shares.

Read the article….

I recommend that investors look beyond the dealing table. GTE is not a turkey, it’s a goose that’s pregnant with a large golden egg. So now, with hindsight, I say yes to the deal and yes to 12,500 GTE shares; they could be worth a fortune when they multibag.

IMO DYOR

PT

If it gets voted down it could actually send the i3 shareprice up.

Don’t read too much into that cmc.

I think when MS talks about shareholder value etc he’s thinking of the combined i3 & GT entity not the deal.

I don’t want GT shares, but if I did, I might expect them to double in the next year with I3E assets solving GT’s financial slump. In this case I would take and hold the shares.

It might come to that - some risk in among the ETFs and money market funds I’m planning to hold come Sept.

Galsworthy

There are all sorts of complex arbitrage situations that institutions play when companies get taken over. MMs join in the games.

Somewhat muddies the water.

Ggg

Another example is PHC which also got taken out for a low figure. Based on looking at the chart of PHC and comparing with the chart for I3 I entered on my calendar the following words ‘I3 D-day’. This was a couple of weeks ago. That very day is today.

Do strings get pulled behind-the-scenes to bring the price down so that low-ball offers can be made?

I couldn’t possibly say. My calendar entry must’ve been a pure coincidence.

Jin-man

The current i3 SP is low because the perceived value of the GTE shares are predicted to be lower than the currently are.

I3 shareholders get the same number of shares regardless of whether the price (on harmonisation) is 660p or 320p. There’s no lower limit and thus the deal is not set in stone.

Of course the GTE share price could also go up.

GTE shares will probably be in the 500p range come Sept offer period close. They’re off 4% as I write. This is a dog s*** deal.

Quite a bit of shareprice movement …

.. and it’s only 11am!

What Ukraine’s assault on Russia could mean for EU gas supplies

https://www.aljazeera.com/features/2024/8/9/why-are-european-countries-still-buying-russian-gas

Concerning possible T/O, all Canadian O&G companies are bombed out at the moment.

Suspect sells are forced sells from funds following ‘risk-off’ client redemptions.

I3E are doing okay as a company so just let the clouds blow over and suck up the divi.

0.2% of shares traded And down 7%

Seems a bit treeshaky to me.

Get you with your regret.

Nice dividend coming and a nice price to reinvest.

Longterm, no problem.

Suggest you don't click on any links from MM - check the history.

The market is as unpredictable on the upside as it is on the downside.

Poor H1 results already anticipated folk are eyeing the gas futures prices; a leap from where we are.

When big buys move the market, it usually means the market is ready for it.

Well I've almost closed my position.

Looking back I wonder if the PHC board ever intended to go it alone.

Money now moving to other opportunities.

GLA

Griffiths increases - it’s a strange world.

Ipencil,

If you decide to attend AGM, please can you feedback. In particular I wonder about the TO timescale. I also think the board need to justify the discrepancy between the offer price and Cavendish’s valuation (shareholders shortchanged).

Tar