RE:RE:RE:RE:RE:RE:RE:No groundswell!CORRECTION
THE VOTE WILL NOT BE FAIR AS PER THE ARRANGEMENT: two-thirds of the votes cast including the stock options where each stock option counting for one vote.
I have to buy only 10,000,000 shares to reject the offer
The offer :“Consideration” means 0.03031261 of a Purchaser Ordinary Share for each Common Share. or .030331261 x 6.2 penny = 0,0018793818 pound x 1,7241 CDN$/Pound = 0,00324 cent (CDN) per TEI share.
The 0,00324 cent per TEI share is 470 551$ CDN for all the 145 128 518 TEI outstanding shares, less than a quarter the cash flow in normal operation.
The offer is 0,00324 cent (CDN) per TEI share when the stock is trading at 0.005 cent per TEI share
The I3e offer of 0,00324 cent per TEI share is 470 551$ CDN for all the 145 128 518 TEI outstanding shares is less than the cost of my 5 300 000 TEI shares
TEI at the actual price per barrel is cash flow positive and can paid the interest on his debt at a production of 1 000 BBL per day and can paid the installment paiment each month. TEI as a stand alone entity can paid each quarter a dividend of 0.005$ per share at a production of 1 000 BBL per day.
The dividend TEI can paid to his shareholders is almost 7 times the I3e offer.
ALL SHAREHOLDERS HAVE TO VOTE NO TO THE I3e OFFER AND VOTE NO TO ALL PROPOSED DIRECTORS OF TEI AND WE WILL GET A FAIR OFFER OR TEI WILL CONTINUED AS A STAND ALONE ENTITY"
section
2.2 INTERIM ORDER
(c) that the required level of approval for the Arrangement Resolution shall be two-thirds of the votes cast on such resolution by Shareholders and, if required by the Interim Order, the holders of Stock Options voting as a single class present in person or represented by proxy at the Company Meeting (such that each Shareholder or holder of Stock Options is entitled to one vote for each Common Share or Stock Option held);