Nighthawk Energy Share Discussion Threads

[mallorca 9] 15/3/2017 08:56

It wouldn't surprise me if we were to receive a nice update ahead of the General Meeting ... just to up the share price and to get every one into a positive mindset.

[mallorca 9] 15/3/2017 08:46

Max,
they have to pay 1p per share for the conversion.
Rick will therefore have a great incentive to get the share price well up from that level .. to provide them with the commercial incentive.

[mallorca 9] 15/3/2017 08:44

What an opportunity to buy today. Even the noteholders will have to pay 1p.
The market share price will have to be higher than this come October to provide them with an incentive.

[maxwell] 15/3/2017 08:44

Tough measures are sometimes needed to move on, this should ease the company debt
And remove the uncertainty for the rest of us. At least a light at the end of the tunnel maybe a good year eventually......

[mallorca 9] 15/3/2017 08:42

trout ... a sensible voice at last !

This is good news.

[troutisout] 15/3/2017 08:40

Is this fake shock? We knew all about this last year, at that time 1p a share was at a premium. The only thing has been the time taken to call the GM. If it had been called straight away we would have all voted for and heralded it as great news.

To sell shares on the back of it seems poor decision making, we have known it had to come since the announcement last year,



The GM was originally going to be called in August of last year.

If they take the converting shares option they forego interest on the deferred sums (which I think was at 15%).

[mallorca 9] 15/3/2017 08:31

Really ...

this RNS just confirms what we knew and hoped for ... that the noteholders can take shares in the Company instead of cash repayment.
The principal debt is $23m to CBA.
They are obviously staying with Hawk.
At end December we had $5m cash at bank.
It's because the Co is now on a more solid commercial footing that these issues can now be sorted and simplified.
The financing in 2015 and 2016 was in emergency circumstances and paying a high ticket (15%).
This can all now be replaced.
We knew that this general meeting was to be called to vote on this resolution.
The delay worried me a bit, however, now that so much else has been put in place, we are now at last moving forward.
The RNS also stated that growth plans would then be announced.

[chesty1] 15/3/2017 08:28

IOG will hopefully recover my losses here.

[mallorca 9] 15/3/2017 08:24

Balbains, I'll buy those , thank you.

So general meeting 5th April. Let's hope all resolutions passed and then it's onwards and upwards.

[mallorca 9] 15/3/2017 08:22

The other very good news is that the CBA obviously isn't taking up it's option of calling in the loan at end March.

This is all very good news and is all part of the financial restructuring that we've been waiting for.

[balbains324] 15/3/2017 08:19

just sold mine for a small profit trade not showing. just over a million shares at 1.03p

[mallorca 9] 15/3/2017 08:18

Marmar,

the RNS contains the directors binding statement that they are not going to make any changes to the Co.

All ...

The share issue (instead of cash repayment) means that the concert party will hold just over 30% of shares. For a hostile takeover they would require over 50%.

The noteholders have the choice of cash repayment or shares at 1p each.
Lets hope that the share price on the day is so attractive that they all choose the share option (18% dilution).

One important new gem I picked out of the RNS .....

Should the waiver not be approved and the noteholders elect to take shares .. then the 30% is exceeded and a mandatory offer must be made to independent shareholders for the purchase of all of their shares.
This offer must at least equal the highest price that any concert party member has paid for a share in the preceeding 12 months.
I'm guessing that will be lower than todays market share price !

I will vote in favour of the resolution ... it conserves cash in the business (vital) and , if the noteholders elect to take shares instead of cash repayment, shows confidence in the future.

[reallyrich] 15/3/2017 08:17

Sorry to say but told you rick was a ean ker and we would get shafted.

Sad

[chesty1] 15/3/2017 08:09

Well I had written this one off a long time ago so not selling and will see it out.

[marmar80] 15/3/2017 07:59

Then will buy a few more and will delist the company. Do you want that to happen? No to new shares.

[tsmith2] 15/3/2017 07:52

Is to allow the company to issue more without certain holders becoming obliged to make offer for the company...If they prepared to take shares for some debt, then its surely good news

[balbains324] 15/3/2017 07:51

marmar it would be wise to issue shares rather than money......if the resolution isn't passed then the companies working capital will be in jeopardy .

[philmac56] 15/3/2017 07:48

So we now have a date for our AGM...5 April. Hopefully we will gain some info re WF production by then or that day!! The choice is vote yes for more shares to be issued at some time in the future or vote no and then have the co to pay £2.6m by end Oct!!! In a nutshell!!
Why issue shares if there is no future!!!

[marmar80] 15/3/2017 07:44

That explains the recent trading.. Anyway, We should vote against the share issue. Pay the debt from cash in bank. The company is generating small cash every month so will be OK a few months later, especially when the water flood increases the oil recovery from the existing wells. Share issue will damage the share price for years.

[balbains324] 15/3/2017 07:43

Wow...that was long....looks like we're all in favour of the resolutions.

[jonc] 15/3/2017 07:08

No value for equity holders here. A sad ending.

[blueball] 10/3/2017 14:58

Inching down today.

[maxwell] 10/3/2017 14:06

Only small trades as large spread hence no point buying without News to raise the lower quote, I don't think anything will happen very quickly
so patience required.....