Petrel Resources Takeover Rumours (PET)


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Petrel Resources Takeover Price

Petrel Resources Takeover Forum Posts

Yep you may well be correct this is being walked down to 1p i thought it was so CP can buy back the disputed 5 million shares on the cheap and possibly do a takeover but would also solve unpaid remuneration have to wait and see what happens as usual shareholders shafted but GLA may all get sorted 1 day problem is long term shareholders need their monies back for their retirements.
Fenners, it will not happen. The narrative is too shot. The company has tax losses, which might have value, a listing and a few peanuts in the bank. This is going to go sub 1p and it is a falling knife. At some point it will become a zombie company with potential for a reverse takeover. That said no great surprise from this side of the fence.
Reverse takeover on the cards ?
Thanks for all your hard work f31. You have my full support in your pursuit of truthful answers from the board. Their current responses have in my opinion, been nothing short of contemptible and a disgrace. I also fully echo bountyfull's sentiment and agree it is time for a complete change. With a current share price close to worthless, we have little to lose in backing a full Tamraz & Co. takeover.
kd it is not clear what deal is on the table. Presumably the aim is to effect a reverse takeover, in which Tamaraz effectively takes control of a tradable company and Horgan fronts the company (assuming Teeling is retiring). Tamaraz then reverses the assets into PET and, given that PET is a cashless shell (ie without assets - RT not me), PET issues shares to Tamaraz for those assets. What will the terms of that trade be. Who is going to control it. Tamaraz appears to have done well so far but not without stepping on the odd toe. What is the protection for the PET shareholder, or is 5% of something better than 100% of nothing?
"I DID NOT REQUEST FOR A REVERSE TAKEOVER. I ONLY REQUESTED FOR 29.99% IN TOTAL FOR MY GROUP." Has he forgotten the second tranche of shares taking them to a majority stake, which they already " Bought" cough. Of course they could not or would not pay for the shares so they were subsequently cancelled..... So why buy them in the first place....? is that lost in translation? Was never a quote in the first place ? Or other ?
The shareprice looks poised to rise.... I await the reverse takeover !
So almost EIGHTEEN months on from the CP "takeover" and what has happened ? The shares to take them to 51% got issued but never bought. The sold some that should have been restricted. They went to court The second tranche of shares were cancelled. The projects due in "90 days" came to Nothing Rumours were put about afterwards of the CP buying a Portuguese bank , what has this to do with PET. Well that has not happened Iraq have dealt with Intl Oil Majors - lots of them - but Nothing with PET Ghana have dealt with Intl Oil Majors - lots of them - but Nothing doing with PET PET share price has gone up and gone down PET has no business transactions , no sales, no income and has not had any for a generation. Meanwhile many other listed companies that do stuff have had their share prices rocket to all time highs in the last year....
By Jason Corcoran in Dublin March 22, 2021 A Mongolian mine is seeking a London listing via a reverse takeover of Arkle Resources, according to the Irish gold and zinc explorer founded by the serial entrepreneur John Teeling. The Undur Tsakhir mine, located in Tayshir Soum in the Gobi-Altai province of Mongolia, and which is being explored by the Sod Gazar surveying company, produces the metal molybdenum, which is used for steel alloys. “They are looking for an AIM listing in London using one of our vehicles," John Teeling, Arkle's chairman and the leading shareholder of a string of metals and energy companies, told bne IntelliNews in an interview. “We could probably introduce them to some potential investors and we might give them some credibility to a listing in London if they come through one of our vehicles."
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