GMT Capital Corp.

November 16, 2015 16:05 ET

GMT Capital Corp. Announces Acquisition of Shares of Tidewater Midstream and Infrastructure Ltd.

ATLANTA, GEORGIA--(Marketwired - Nov. 16, 2015) - Pursuant to the early warning requirements of applicable securities laws, GMT Capital Corp. ("GMT") announces that one or more of GMT's hedge fund and private client managed accounts have acquired an aggregate of 19,041,500 common shares ("TMI Shares") of Tidewater Midstream and Infrastructure Ltd. ("TMI"), representing approximately 10.82% of all outstanding TMI Shares. GMT specifically disclaims any beneficial ownership of such TMI Shares, but as investment manager for its managed accounts it maintains exclusive power to exercise investment control or direction over the TMI Shares. 18,519,000 of the TMI Shares were acquired for no additional consideration in accordance with the terms of 18,519,000 subscription receipts of TMI previously acquired by one or more of GMT's hedge fund and private client managed accounts. Such subscription receipts were acquired from TMI at a price of $1.35 per subscription receipt. 522,500 of the TMI Shares were acquired at a price of $1.45 per share over the facilities of the TSX Venture Exchange. The TMI Shares were acquired in the ordinary course of business, for investment purposes only and not for the purpose of exercising control or direction over TMI. GMT managed accounts may from time to time acquire additional TMI Shares, dispose of some or all of the existing or additional TMI Shares or may continue to hold the TMI Shares.

Contact Information

  • FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY
    WARNING REPORT FILED IN CONJUNCTION WITH THIS PRESS RELEASE,
    PLEASE CONTACT:
    GMT CAPITAL CORP.
    Philip J. Meyers
    (770) 989-8263

    GMT CAPITAL CORP.
    2300 Windy Ridge Parkway
    Suite 550 South
    Atlanta, GA 30339