Gran Tierra Energy Share Discussion Threads

[gerryjames] 10/3/2011 10:11

"Company still worth at least £5-7 Million"


This is the post I take exception to and where you forgot to add the zero.

Notwithsanding the loan note holders will get the first $30m, there is still a large potential profit for the remaining ordinary shareholders if the business is sold.

I'm taking the punt on a sale post delisting or an improving business. Either way many are seeing that at £1m MC it's a steal having been panic dumped seeing the word delist and not perhaps considernig their holding will not be canceled as is the norm with a delist. The company isn't being wound up it's going private with an inhouse DMA trading platform.

[runster] 10/3/2011 10:08

Isn't it de-listing on April 18th 2011? Seems dangerous to me.

[brando69] 10/3/2011 10:06

sounds like the two directors DP'd him

[induna123] 10/3/2011 10:03

Four weeks back two GTE directors came to my home and presented the investment case for GTE. Generously, I agreed to subscribe at 55p. The issue was finally set at 30p. That looks too low.

Simon Cawkwell


Were they dressed in hoodies as it sounds like you were mugged Simon?

[induna123] 10/3/2011 10:01

If this company is go great why did it fall to 0.35p a few day ago?

[gdasinv2] 10/3/2011 09:59

Trading Update

As of 28 February 2011, total sales for the first two months plus backlog for delivery in 2011 were US$17.2 million, some 35% higher than at the same date in 2010.

Group sales for the year to 31 December 2010 were up by 4.3% at US$38.7 million (2009: US$37.1 million). Increased sales of Combustion parts and services in 2010 (which included a full year of turbine service activity, compared with a part year in 2009) were offset by a decline in sales of Auxiliaries, reflecting continued spending constraints among customers. Aviation sales were relatively flat year on year at US$5.5 million.

[pennylane2] 10/3/2011 09:59

Can someone here tell me if the company has debts?TIA.

[gdasinv2] 10/3/2011 09:51

gerryjames , I am investor on GTE not a ramper or deramp. I am with GTE, and there are loads with of them GTE.

[gdasinv2] 10/3/2011 09:38

Trading Update

As of 28 February 2011, total sales for the first two months plus backlog for delivery in 2011 were US$17.2 million, some 35% higher than at the same date in 2010.

Group sales for the year to 31 December 2010 were up by 4.3% at US$38.7 million (2009: US$37.1 million). Increased sales of Combustion parts and services in 2010 (which included a full year of turbine service activity, compared with a part year in 2009) were offset by a decline in sales of Auxiliaries, reflecting continued spending constraints among customers. Aviation sales were relatively flat year on year at US$5.5 million.

[morkandmindy] 10/3/2011 09:36

because the price has increased approx 4 or 5 times its original amount since yesterday morning.

[gdasinv2] 10/3/2011 09:35

Company stil worth at least £5-7 Million

[careful] 10/3/2011 09:31

there are fish and chip shops worth more than £1 million.(gte 1 million)
why do you all get excited when 100 quids worth of shares are bght?

[morkandmindy] 10/3/2011 09:30

suddenly looking very interesting

[whyme] 10/3/2011 09:29

Do you think that the 2p and the company has the tech to deal with small pi's and any postal correspondence I would think that they may consolidate or do something else.

But you take your chances 'live by the sord'

[induna123] 10/3/2011 09:28

wow, these were 0.35p only two days ago.

[gdasinv2] 10/3/2011 09:26

@6p - 8p BID

[induna123] 10/3/2011 09:16

what's going on here?

[2seansflag] 10/3/2011 09:13

well that was good for a trade, not sure about a hold, so sold, still lost overall on this

[minky65] 10/3/2011 08:52

looking at the buys and limited stock availabilty IMO we will see 2p by the end of today.

[gdasinv2] 10/3/2011 08:36

The compnay has cleared that - The shares can be traded aftre 22 March on their web site, Compnay worth more than @20p a share, so people are piling up...for future return. Good in anyway. I have bought 500000 on my sipp

[gdasinv2] 10/3/2011 08:18

No de-list now as per hedge funds..they have new strategy to sell the whole assets @6p.

[dhana] 10/3/2011 07:47

what is new about delisting

[p@] 09/3/2011 17:25

Read before you buy!

Proposed recapitalisation
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TIDMGTE

RNS Number : 2567B

Gas Turbine Efficiency PLC

15 February 2011

15 February 2011

Gas Turbine Efficiency PLC

("GTE" or the "Company")

Proposed recapitalisation

Further to the announcement made on 31 December 2010, the Company announces today that it has entered into a non-binding term sheet with the holders of the majority of the outstanding A, B and C loan notes (the "Loan Notes") with regard to a proposed recapitalisation of the Company by the conversion of the Loan Notes into convertible preference shares of GBP1.00 each in the capital of the Company (the "Preference Shares"). As a result, the Loan Notes will no longer become due and repayable on 15 February 2011. The proposal is subject to certain conditions, including the signing of definitive documents and shareholder approval. The effect of the proposal will be that the holders of the Preference Shares will, when added to the ordinary shares that they currently own, initially have a total of approximately 80% of the voting rights in the Company.

Under the proposal, the Loan Notes will be converted at a rate of one Preference Share for each GBP1.00 of the accrued principal and interest outstanding on the Loan Notes. The Preference Shares will initially have a 1.62x liquidation preference so that, on any share sale, business sale disposal (or other return of capital), equity issue (resulting in a change of control), liquidation or winding up of the Company (together an "Exit"), holders of the Preference Shares will receive (in priority to holders of any other class of share) a return of GBP1.62 for every GBP1.00 Preference Share held. If there has been no Exit prior to the date falling six months from their issue, the liquidation preference on each Preference Share will increase to 1.87x on that sixth month date. Thereafter, the liquidation preference will increase by a further 0.31x on the first anniversary, the date falling eighteen months from issue and the two year anniversary of their issue so that, if there has been no Exit within two years of their issue, the Preference Shares will receive (in priority to holders of any other class of share) a return of GBP2.80 for every GBP1.00 Preference Share held. Every six months after the second anniversary of their issue, the liquidation preference on the Preference Shares will increase by a further 0.06x.

On any Exit (within the first 6 months) the holders of the Preference Shares will initially retain approximately the first US$30 million. Shareholders should note that, should such Exit be below this figure, the holders of ordinary shares will receive nothing, with all proceeds going to satisfy the liquidation preference on the Preference Shares.

The Preference Shares will also be convertible into the Company's ordinary shares at any time at the election of the holder of such Preference Shares (in respect of their own shareholding) or at the election of the holders of 70% or more of the Preference Shares (in respect of the entire class of Preference Shares). The conversion price at which Preference Shares will convert into ordinary shares will initially be GBP0.06 per share. This will reduce every six months by GBP0.005, with a floor of GBP0.002 (the par value of the Company's ordinary shares). In addition, holders of Preference Shares will be able to vote each Preference Share on an "as converted" basis. The effect of the proposal will be that the holders of Preference Shares will, when added to the ordinary shares that they currently own, initially have a total of approximately 80% of the voting rights in the Company. As the conversion price falls over time, this percentage will increase.

The Company will also delist from AIM and re-register as a private limited company as part of the proposed recapitalisation. To this end, the Company has requested the London Stock Exchange (subject to shareholder approval) to cancel admission to trading on AIM of its ordinary shares on 22 March 2011.

Further details of the proposed recapitalisation and delisting will be included in a circular to shareholders calling a general meeting to seek approval, amongst other things, of the recapitalisation and to consider a proposal to delist and cancel the admission to trading on AIM of the Company's ordinary shares. It is the Company's intention that, following delisting, a trading facility will be established so as to give people the ability to trade shares; further details of this facility will be included in the circular.

It is anticipated that this circular will be posted to shareholders by the end of February 2011, when definitive documentation has been entered into by the Company and holders of certain of the Loan Notes. It is expected that the general meeting will be held during the week of 14 March 2011. The plan would, subject to shareholder approval, be to delist from the AIM market on 22 March 2011. It is anticipated that the Company would re-register as a private limited company at some time around the week of 11 April 2011. If the proposals are not approved by shareholders, or completion of the recapitalisation does not occur for any other reason, the Loan Notes will become repayable on 15 March 2011. All timings are subject to negotiation with the Company's principal Loan Note holders.

For further details, please refer to the announcement made on 31 December 2010, which can be found on the Company's website at page: tefficiency.com/gte/pages/investors/financialnews/pressreleases?ref=114.

[careful] 09/3/2011 16:41

what tricks can this lot offer that the likes of rolls royce do not already know.