Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Oh well nice to watch a serious mover and good luck to you all that are in
Does someone sell at 12.40 300,000 shares and then a suspension RNS comes along at 12.46???
Yesterday it seems there was a trading halt in Canada for 25 minutes from 10.20 - 10.45 due to "Dissemination". Will be interesting to see what happens when trading opens again this afternoon at 2.30.
Let's see how this goes today, up or down?
Like I said profit takers need to get out first before we see this start rising properly. Patience...
John Bell, Executive Chairman commented: "We are pleased to have reached agreement with Olisol on this crucial part of our broader transaction and to now have access to US$15 million in interim financing to see the company through to closing of the Placing."
Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") announces that, further to the letter of intent announced on November 9th, 2015 (the "LOI"), the Company has entered into an interim convertible financing facility of up to US$15 million (the "Interim Financing Facility") with Olisol Petroleum Limited ("OPL"), a wholly owned subsidiary of Olisol Investments Limited ("Olisol"). The Interim Financing Facility is convertible into Tethys ordinary shares at C$0.17 per share. (8p approx - Wotson) OPL will advance to Tethys up to US$15 million to be used to repay the US$5 million term loan from Nostrum Oil & Gas PLC and potentially the US$7.5 million convertible debenture from AGR Energy Limited No. 1 (the "AGR Debenture"), in each case plus any other amounts arising thereunder. In the event that AGR Energy exercises its conversion rights under the AGR Debenture prior to redemption, the Interim Financing Facility will be reduced by US$7.5 million, with the Placing (as defined below), at the option of OPL, being increased by US$7.5 million in exchange for 75 million further shares. The balance of the Interim Financing Facility will be used for general and working capital requirements of the Company and will be available thirty days after first draw down or, where requested by Tethys, such earlier date as the parties may agree. The Interim Financing Facility has a maturity date of 31 August 2016. Subject to approval of the Toronto Stock Exchange and compliance with other regulatory requirements including listing on the KASE and National Bank of Kazakhstan approvals, the outstanding principal and interest under the Interim Financing Facility shall be convertible into ordinary shares at C$0.17 per share. A condition to the first draw down under the Interim Financing Facility is that Mr Alexander Abramov, a designee of Olisol, and Mr William Wells, of Pope Asset Management, LLC, a 19.1% shareholder of the Company, be appointed to the Board of Directors of Tethys (the "Board"). The Interim Financing Facility is the first step in the potential broader transaction provided for under the LOI, where OPL will subscribe to a C$25.5 million private placement of 150 million new ordinary shares at a price of C$0.17 per ordinary share (the "Placing") and commit to backstop a further equity fundraising of 50 million shares at C$0.17 per share (the "Further Financing", together the "Transaction"). OPL and the Company are in advanced negotiations over binding transaction documentation. In the event the Placing is not completed, Mr Abramov will resign once the Interim Financing Facility is repaid in full. John Bell, Executive Chairman commented: "We are pleased to have reached agreement with Olisol on this crucial part of our broader transaction and to now have access to US$15 million in interim financing to see the comp
and we can move up properly to 8p tomorrow or next week.
Blockbuster RNS late in the day so fireworks Friday - Never said this before....but Booom!! Just a little one though :)
Canada up 31%
Buy we go up sell we go down. Each trade up or down has a value.
Canadians are up 12.5% on open they must be expecting the news soon too.
Of course a lot of profit takers will be in to derisk as they were in before the last increase to 5.9 but that is to be expected. I am down at this price but pretty calm about it. DYOR
Well the deal is done or the deal is not done. Aim is a risk and I would rather risk on the deal being done than on many other shares that have dived recently. If the deal is done it's at 0.17cents in Canada exchange which equates to 8p I think on AIM. So expecting a flurry of activity by end of tomorrow unless news comes Monday then if it's done it'll spike before you can get in at these levels. Impossible to de-ramp this at the moment and ramping is not necessary because the RNS has already stated the outcome here.
First target 9p Second target 15p Third 2014 year high 35p Any other opinions?
News coming..Monday latest
As I said in previous posts a takeover after the deal later this week is a strong possibility.
we should be at 5.5p
RNS out
Financials - Quarterly http://www.marketwired.com/press-release/tethys-petroleum-limited-third-quarter-2015-financial-results-and-activity-update-tsx-tpl-2073704.htm