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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tethys | LSE:TPL | London | Ordinary Share | KYG876361091 | ORD USD0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.125 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
21/10/2016 10:34 | This was in the April RNS: "The Investment Agreement requires the Parties to enter into a Relationship Agreement on closing which will address certain conflicts of interest and related party matters. The Relationship Agreement will only apply if OPL owns 25% or more the outstanding Shares." | casual47 | |
21/10/2016 10:32 | It's quite encouraging that finally there is evidence of some "spine" within Tethys, however I note the appearance of the "relationship agreement"....logica So hopefully there is a plan, albeit 11th hour, otherwise it's indeed headed to intensive care. I assume there must be other discussions going on, but i am baffled as to how they attract investment without any evidence of a coherent strategy and backdrop of flat-line share price, any investment whilst on life support is hardly going to be advantageous to existing shareholders. | naimanka74 | |
21/10/2016 09:17 | How about you post an opinion or think for yourself? | casual47 | |
21/10/2016 08:10 | hguess What if they've not got it? | seroserio | |
20/10/2016 23:59 | The oil industry is dirty enough without these types of antics (if true)! | temporarily insane | |
20/10/2016 21:07 | I am glad Tethys Mgt prevented Olisol's " tactical " move in using its working capital loan to top up its 181m share take-up. This would have weakened cash flow and also significantly reduced PAM's influence. This was an attempt to " enter through the back door" !. Olisol have got to cough up C$9.787m for its 181m by the 27 Oct. deadline. I would then ask Olisol to abide by Resolutions 4 ( US$1m for 24.34m shares), 5 ( conversion of working capital US$ 5.7m for 43.962m shares), 6 ( future offering underwritten for 50m shares) and 7 ( pre-emptive rights ). The shareholders voted overwhelmingly - over 98% at the AGM to adopt these R's. So, Come on Olisol, Comply - and give Tethys the cash !!. | hguess16 | |
20/10/2016 18:07 | When Nostrum withdrew its offer, following PAM's rejection, it said that it reserves the right to come back with a revised offer. Now that the oil price has risen and Nostrum share price has moved up, it might be possible that they are making a come-back, but again, PAM as a controlling shareholder could be forced to sell out of Tethys as Nostrum would want full control. But at what price to PAM, 5p would be too low !. As for AGR Energy and its outstanding loan to Olisol, their re-entry is also a possibility, but here again, AGR is a tough negotiator !. Seems like John Bell was no match for either of them !. | hguess16 | |
20/10/2016 17:11 | Must be a sell of 1000 over on TSX to drop the share price by 20% again. Cant see anything yet as the sites I use are 15mins behind. Bent crooks. | temporarily insane | |
20/10/2016 17:09 | ^^^ At last Tethys actually going standing up to the original contract. Olisol changed their buyin price multiple times bullying Tethys. | temporarily insane | |
20/10/2016 17:04 | The RNS was pretty clear. TPL basically said: So, thanks for that $3.4million USD you gave us end of August / early September, but that was working capital so it doesn't count. Please give us CAD 9,787,002.82 in cash and then we can talk about what you want doing with the $1m loan and the working capital you gave us (amounting to around $5 million USD) | casual47 | |
20/10/2016 16:51 | Jeez that would certainly put the cat amongst the pigeons. | temporarily insane | |
20/10/2016 15:29 | Could it be that TPL has seized on Olisol being in breach and is intentionally playing hardball in order to get out of the Investment Agreement seeing as they know Olisol will be unable to provide further funds in future? | casual47 | |
20/10/2016 15:23 | Meanwhile our crazy Canadian buddies are over the moon...........20% rise on.................. | temporarily insane | |
20/10/2016 15:11 | There are only two options here: 1. Put TPL up for sale 2. Find someone to give us several 10s of millions USD to fund capex If Olisol and TPL find agreement but they are unable to do (2) then there is no point and TPL might as well do (1) asap before Olisol gets a controlling stake in the business. Tick tock... | casual47 | |
20/10/2016 14:26 | In the Tethys press release, Tethys expects Olisol to transfer the full purchase price of C$ 9.787m for 181.24m shares amounting to 42.03% of the total 581.248m shares by 27 Oct. as contemplated by the Investment Share Agreement. If Olisol fails to meet this requirement, it would hold 63m ie 15.76% of Tethys shares and would be owed about US$ 5.72m ( working capital loan) by Tethys. There is a possibility that a new partner could step in and clear the working capital loan. I am hoping that the Tethys press release might be an indication that active negotiations are currently taking place with interested parties, who might wish to fill the " apparent void" created by Olisol, due to its lack of available cash to conclude the deal. Note also that Tethys was initially reluctant to deal with Olisol's first approach and were then persuaded by Olisol who showed them the "magic US$ 50m funds facility" documentation, which was then significantly diluted in stages as the protracted negotiations continued. The new mantra should be " Show me the money and now tuck it in my wallet; then I will deal with you in good faith". | hguess16 | |
20/10/2016 13:37 | Above 15p would be nice. | temporarily insane | |
20/10/2016 13:30 | Still plenty of scope for an all cash offer... | casual47 | |
20/10/2016 13:15 | 1. They come to an agreement by 27th October deadline. 2. They agree to extend the deadline and keep negotiating. 3. They don't come to an agreement and 27th October deadline lapses. The defaults of the investment agreement get triggered -- in this case, the ones describing the scenario of Olisol being in breach. Lots of potential outcomes here. In any case Pope will still be the controlling shareholder. | casual47 | |
20/10/2016 12:48 | Or else what? | seroserio | |
20/10/2016 12:31 | Exactly Casual, Olisol need TPL as much as TPL need Olisol, this is down to Olisol to sort out, the RNS is a mechanism for giving a slap on the backside to Olisol to tell them to get their issues sorted out asap or else! With POO rising, vultures are circling across a number of companies. | devonlad |
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