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.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: