Member Info for rylidan

Stas, if you believe there will be a 25% drop in the new GTE UK losted shares on completion, why not simply reinvest the cash?

Doing that without the 25% further drop will still yield around 15p per I3E share if / when GTE returns to the offer price (which I think it will quite quickly). If your 25% drop takes place before you invest the cash element, the offer is around 18p at the offer price, which I'm sure many will be happy with.

You are right Tony. There is only one major shareholder committed to this deal. There some I wouldn't trust as I'm not sure what their trading agenda is. Will probably get approved BUT the share price is where it is because of uncertainty.

I've seen IIs take down deals like this for their own gain. Shares with high PI investment are vulnerable IMO, but do present excellent trading opportunities.

I believe there's good synergy in this deal. Combined they are stronger, and the cash i3e is generating will help GTE develop its assets.

After completion I believe the GTE shareprice will return to over $9 and grow from there. Obviously just my opinion.

HL indicated that you can't trade GTE on line, but you need to phone their dealers. I assume they can trade for you into an account.

You can trade GTE : NYSE in ISA, SIPP or share account on HL.

To trade US shares you just need to complete a W8BEN form. Its on line and simple with HL.

They have put a specific clause in their offer stating that it is final with no increase possible.

It would therefore need approval from the takeover panel to increase should the offer get rejected.

Well, it appears premier Miton is willing to accept 12.3p as a firm cash offer, as that's what they are offloading for. So who reckons we're actually worth 16p or more? Hmmmm

By voting no you are hoping someone will make a better offer. Or that suddenly we'll have an enthusiastic BoD wanting to drive this investment forward.

Of course, it's quite possible those saying to vote no, are no longer shareholders and would like to buy back at 9p or less. If so they are relying on persuading everybody else this company is worth more as a stand alone entity.

There's been a lot of selling at 12.2p.

Who's going to buy and vote No? Crazee IMO

GLA enjoy your day

No Increase Statement

Gran Tierra considers the financial terms of the Acquisition comprising 10.43 pence per i3

Energy Share in cash, one new Gran Tierra Share per every 207 i3 Energy Share held, and

the payment of the 0.2565 pence per i3 Energy Share Acquisition Dividend to be full and fair

and therefore that the financial terms of the Acquisition will not be increased in accordance with

Rule 32.2 of the Takeover Code. Under Rule 35.1 of the Takeover Code, if the Acquisition

lapses, except with the consent of the Panel, Gran Tierra will not be able to make an offer for

i3 Energy for at least 12 months.

Gran Tierra reserves the right to revise the financial terms of the Acquisition in the event: (i) a

third party, other than Gran Tierra, announces a firm intention to make an offer for i3 Energy

on more favourable terms than Gran Tierra’s Acquisition; or (ii) the Panel otherwise provides

its consent.

If you like a gamble GGG, then try HE1. They are talking instant multibagger on that board. I'm not invested there I must add.

Well GGG, I admire your optimism through those rose tinted specs. I'm sticking regardless for the outcome as only a bit of capital gain to lose.

We shall see who's right if the offer gets rejected!

You're right spike. I'm also in purely for dividends, and capital gain is a bonus. However I try to invest at a level where losses are likely to be minimal. I move on when I can get better dividends elsewhere, and that is certainly the case if this was trading at 13.9p. Therefore it's the reason I'm happy with the offer, albeit more would be nice.

I see it's labeled as a final offer. Highly likely it won't be increased if we reject IMO. Also likely we're be back at 9p pronto as the shorters dig in.

I can certainly understand the frustration of longer term holders than me. However, a share is sadly only worth what it trades for if there's no offer on the table.

GLA

Nice to see that they've restarted on AIM as well. Starting to ramp up too!

I take that back! I missed the second RNS that day. So you may be correct in people hoping the offer will get rejected and we'll be back at 9p.

I believe it's sitting at 12.3p because there is no firm offer on the table. They have 30 days to make one. Once there is a firm offer then we should be over 13p IMO

I think you'll also find that the major brokers may only count as 1 "by number" and when they make their returns it won't be on an individual basis, but on a x votes for and y votes against. Not certain with this, but I believe the shares are held in nominee accounts and not against individuals.

Some may have paper certs though!

Jun man

I'm not a lawyer, but using my friend Google I find the following definition

"Approval by at least 75% in value of each class of members or creditors who vote on the scheme"

The key part is "who vote on the scheme". So it's just 75% of those that vote.

It's also "in value", so you are incorrect in stating one share is the same as 50m!

Just the way I see it.

Tony

Agreed that PTAL trades at a discount to I3E, but my dividends with PTAL have been higher than I3E for the past year.

Yes, Canada may be more stable than Peru, but Peru has a lot of development potential, just from the position they are starting from.

Yes, social unrest has been a problem. It seems to be far more stable recently, especially with the community focus PTAL has.

Yes, barging constraints exist, but they are expanding the number of routes, plus another pipeline and the old one also looking like reopening. I don't believe production is constrained as it's been steadily increasing for years.

They are all risks, agreed, but the company is actively aware of them and managing well IMO. Listen to one of the quarterly updates and you'll be impressed.

Tony,

Half my pf invested in REITs after the Truss budget fiasco crashed the sector. I still see value in that sector for stable income, with some growth potential.

My other O&G share happens to be PTAL, as you mentioned it. It's Peru not Columbia. Yes, it has its risks, but is very well managed and works closely with the local communities. I see the primary risk for both PTAL and I3E is in commodity prices. Both companies have current average broker ratings over double their current price. Both companies have zero debt. PTAL is also sitting on a cash pile, mainly because of their risk adverse nature.

I only hold a pf of around 20 shares of high income and share price improvement potential and I'm not emotionally attached to any - I hope!!

GLA whatever your decision here. I3E is only a minor holding for me at 3% of my pf.

Yes, I also understand that everyone is invested or trades for different reasons. Your decisions may not be as simple as my obvious YES vote.