RE:Dividend 9.95%Just noticed this too. From some initial DD:
~Transeastern just acquired Mediterranean Resources (MNR), a cash shell, using its shares. Transeastern netted $3.5m of cash thru the acquisition and substantially improved their balance sheet as a result.
However, MNR was delisted from the tsx-v for a year, and was trading at 7c per share despite having about 25c per share of cash. TEP.UN paid 0.25 of its own shares for each MNR share, worth 25c at the time, and that was a huge premium. Now a lot of those old MNr shareholders who now have TEP stock are selling.
i think this is an unusual opportunity - at 0.65 and 0.0875 per year annual distribution thats a 13.5% yield!
Some decent plaers in the deal alreadyt too.