Macro Tsimmis

intelligently hedged investment

Transmeridian (TMY) update #15

Posted by intelledgement on Mon, 18 Feb 08

Transmeridian announced today that the attempt by CEO Lorrie Olivier to obtain the financing for his $3/share bid to take the company private had not succeeded by the 15 February deadline (extended from the original 31 January deadline).

Olivier’s investment vehicle, Trans Meridian International, “informed the company that it continues to make progress and believes it will be able to complete its financing arrangements shortly. The company has not, however, granted TMI an additional time extension and, as a result, may terminate the agreement with TMI at any time prior to satisfaction of the financing condition, without liability to TMI,” according to the press release.


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