Tellurian falls as it explores sale among other options, CEO steps down
18/03/2024 13:55
** Shares of LNG firm Tellurian TELL.A fall ~10% to 87
cents
** Co expands engagement with Lazard Inc LAZ.N to look at
broader oppurtunities, including a potential sale of the company
** Says LAZ to now also focus on alternative debt and equity
financing, the sale of equity interests in Driftwood LNG project
or TELL, a potential sale of the company, and assisting in
securing commercial partners
** CEO Octavio Simoes stepped down from top post on Friday,
after co said it will not extend or renew Simões' employment
term beyond June 5
** Co also says it may sell shares of common stock for about
$336.1 million from time to time through distribution agency
Virtu Americas
** Including session's moves, stock up 14% YTD
(Reporting by Vallari Srivastava in Bengaluru)
((Srivastava.Vallari@thomsonreuters.com;))