The numbers do not lie!Just so we understand how we are being shafted check the chart they provided showing how the dilution benefits the majors and trashes us. The heading on the third column should be over the last column. Heading on the third is just the number of shares issued to the majors through tranche 2. The last column shows the percentage of the majors share of outstanding shares before and after Tranche 2
I have added a line at the bottom showing what happens to our share. Even with Tenor in the picture, the majors percentage of any proceeds is about the same as without Tenor whereas we drop from about 39% to about 12%.
| Number of Common Shares to be Acquired in Tranche 2 | Current Percentage of Common Shares Owned/Controlled | Percentage of Common Shares Owned/Controlled post Tranche 2 |
| Anna Stylianides
Executive Chairman of the Company | 244,279 | 633,685 | 0.23% | 0.29% |
| Amber Capital LP | 24,259,470 | 29,783,192 | 22.85% | 18.01% |
| Paulson & Co. Inc. | 12,177,835 | 20,911,603 | 11.47% | 11.03% |
Disinterested investors. 40,000,000. Zero 39.00%. 12.00%
My figures may be slightlynoff, but hopefully you get the picture.