RE:RE:RE:Fincraft shareholdingThis means these additional shares must come from either Pope or Olisol (Gazexport) as all the other major shareholders are already included in the original 26.95% (Nautilus 15.16%, Gemini IT 6.92%, APL 4.87%)
Kyrgyzgold wrote: Fincraft news: it buys an *additional* 7.35% of shares increasing its final projected shareholding from 26.95% to 34.31%.
https://www.newswire.ca/news-releases/fincraft-group-llp-acquires-ordinary-shares-of-tethys-petroleum-limited-897110186.html
Crazy they can do this without triggering takeover clause but them's the rules:
"Private agreement exemption 4.2 (1) A take-over bid is exempt from Part 2 if all of the following conditions are satisfied: (a) purchases are made from not more than 5 persons in the aggregate, including persons located outside the local jurisdiction; (b) the bid is not made generally to security holders of the class of securities that is the subject of the bid, so long as there are more than 5 security holders of the class; (c) if there is a published market for the securities acquired, the value of the consideration paid for any of the securities, including brokerage fees or commissions, is not greater than 115% of the market price of the securities at the date of the bid as determined in accordance with section 1.11; (d) if there is no published market for the securities acquired, there is a reasonable basis for determining that the value of the consideration paid for any of the securities is not greater than 115% of the value of the securities."
This means we are likely to see no on the market purchases from Fincraft as that would trigger takeover rules. They can have 1 more buy from an individual seller after this.
Kyrgyzgold wrote: Fincraft stake has now risen to 20.03%
https://kase.kz/en/news/show/1533524/
That's Nautilus + APL. Only Gemini IT's share left to buy.
Not sure why no update yet on SEDAR
Kyrgyzgold wrote: Looks like Fincraft is buying their shares from the following three parties:
APL Construction LLP 5,593,741
Nautilus Investment FZE 17,415,392
Gemini IT Consultants DMCC 7,950,000
Total: 30,959,133
This means that Olisol (Gazexport) is still in the game.
From news release:
Fincraft Group LLP ("Fincraft") announced that it has entered into share purchase agreements providing for the purchase of an aggregate of 30,959,133 ordinary shares (the "Purchased Shares") of Tethys Petroleum Limited ("Tethys") through three private purchase transactions