Post by
Mickey2 on Dec 12, 2016 7:13am
If NGP tenders all of their shares
How does any other shareholders tender their share? only 18MM shares will be purchased by NBZ for cancellation..
I dont understand this pro-rata thing.
"NGP IX Northern Blizzard S..r.l., which owns 42.4% of Northern Blizzard's Shares, has entered into a lock-up agreement to tender all of its Shares pursuant to the Offer. Northern Blizzard's directors and officers do not intend to tender their Shares."
Comment by
Mickey2 on Dec 12, 2016 7:44am
ah man, finally, i understand. thank you for your time and explanation.
Comment by
pierrelebel on Dec 12, 2016 9:30am
Another possibility is that the shares trade above, maybe well above $4.00 by mid January, and NOBODY offers their shares at $4.00 but NGP. That would be nice!
Comment by
Sonofmshade on Dec 12, 2016 9:59am
That not going to happen because the stupid people running this company put a big giant wall on the price of the stock just as oil was on the cusp of exploding. So we don't participate in the rally. Good news for me is I sold large chunk of holdings when they announced this fiasco and put it into Baytex...so in a way I should be thanking them.
Comment by
Sonofmshade on Dec 12, 2016 11:37am
Clearly the market thinks differently. In this environment that very precious cash resource could be better put to use than buying back shares. It tells me the company's management is less worried about running the business than keeping the hedge funds happy. Bad recipe for the small investors.