Hurricane Energy Share Discussion Threads

[loglorry1] 26/5/2021 12:01

Ooops looks like the current BoD have completely ignored CRS's resolutions for the AGM. Will they stop at nothing with their underhand tactics :-)

[dave999dave999] 26/5/2021 11:49

AGM June 30th

[ngms27] 26/5/2021 11:47

I'm also pretty sure current equity may bid to make current Directors personally liable for any unnecessary losses encountered if the scheme goes ahead.

[loglorry1] 26/5/2021 11:37

If a director stiffs creditors in favour of shareholders they can be held personally accountable. That's why.

[1liam] 26/5/2021 09:48

Time to add a few more at this price

[philwalker36] 26/5/2021 08:36

But why wouldn't quite holders try and stiff the bond holders and the BOD if they felt that had been done to them. We really have very little to lose now.

[kooba] 26/5/2021 08:31

As much as the current Board are trying to use legislation brought in with CIGA 2020 to stifle their shareholders , i thought there were also changes that protects the ability of a Board to manage the business therefore protecting against creditors in the short term , bit like chapter 11 in the states..will look more closely but a change of board control might chose to look at these provisions? It might at least buy time to fully assess situation and engage with bondholders on a plan that might be more equitable and appealing?

[1liam] 26/5/2021 08:23

Time to buy :)

[back2basics1] 25/5/2021 20:45

HUR Shareholders, please kindly and urgently:

1. Contact your broker and register to Vote AGAINST HUR BoD’s proposed restructuring plans ASAP (if that is indeed your intention), and by doing so, remind this HUR BoD that turkey’s don’t vote for Christmas!

2. Continue sending shareholder suggested emails to Judge, FCA ....as per previously recommended templates or as/if you see fit of course

Thank you all HUR shareholders, let’s ensure that we’re no longer ignored by our paid BoD representatives!

[kooba] 25/5/2021 20:42

No I think CA are being represented by Rosenblatt , from memory having observed the first hearing...not even close there.

[loglorry1] 25/5/2021 20:27

Shareholders must be represented by Pigs, Will & Fly LLC then?

[back2basics1] 25/5/2021 20:25

“Shareholders and Bondholders are reminded that in the event the Restructuring Plan is not approved at one or more of the plan meetings, or if it is so approved but not sanctioned by the Court, the Restructuring will not be capable of being implemented. In that scenario, it is” GUARANTEED THAT THIS TOTALLY INCOMPETENT, ARROGANT, DECEITFUL, DO NOTHING BUT VALUE DESTRUCTIVE, NON REPRESENTATIVE HUR BOARD OF DIRECTORS, WILL IMMEDIATELY BE OUSTED/KICKED OUT BY IT’S COMPLETELY IGNORED LONG SUFFERING SHAREHOLDERS, AND HENCE, HUR AS A COMPANY, WILL THEN VERY LIKELY HAVE A LONG & EXTREMELY PROSPEROUS FUTURE AHEAD IN EVERY ASPECT, DYOR.

[kooba] 25/5/2021 20:15

Attention seeking idiot..not biting any more ..get a room and knock yourself out .

[nigwit] 25/5/2021 20:00

The company just announced an annual loss of £625 million and you’re all saying I’m the one with the ego for refusing to accept your story and back your shareholder revolt because there’s a scam?.

There’s a poster on LSE who’s claiming that the BoD has been infiltrated by the Chinese and wants everyone to tell the judge.

Have you any idea just how messed up your minds have become over the last few years of following these boards and only talking to people who agree with you?

Here’s one simple illustration of how deluded you’ve all allowed yourselves to become. You think accusing the company of running a criminal scam will encourage the share price to recover. It’s madness to believe that will do anything but cause investors to run. Then you say I’m de-ramping.

You don’t need me. You need psychiatrists.

The judge, who won’t appreciate being bombarded, is going to say he gave you a chance to propose a better plan but all you came up with is potty conspiracies. Then he’s going to pass the restructuring, PI’s will be diluted with 38 billion new shares and the bondholders will vote the existing board back in with them.

[loglorry1] 25/5/2021 19:35

Jaknife I agree there's no way bondholders want to see a CA backed board. They probably want to keep the listing but not if it means having a hostile board with some partial access to their $130m.

I can't see why they won't do a pre-pack unless the court approves the plan (which I think is likely unless CA come up with a credible proposal - which is extremely unlikely).

[whitedukejay] 25/5/2021 19:22

"Why recommend a book that you clearly haven’t read?"

Jeez you are reading too much into things ,the book was randomly chosen for its title not its content. i have not a clue what the book is about and frankly my dear I don't give a damn.(and nor should you)

[ppceh] 25/5/2021 17:55

NigWit

Kenneth Goldsmith wrote a good book you can relate to "wasting time on the internet”

Why recommend a book that you clearly haven’t read?

[luckyjoe999] 25/5/2021 17:37

Post from lse today:

RetiredFella
Today 17:26
Posts: 50
Price: 1.22

You can do so at the below link:-


I want to report how shareholders are being deceived in Hurricane Energy Plc. There is a serious fraud being perpetrated against shareholders as their rights are being crushed continuously by the board. They do not want shareholders to meet and vote out the board. Please help!!

Fact 1: -
On 19 May 2021 existing board of Hurricane Plc announced that it has received a requisition notice (the "Requisition Notice") from Crystal Amber Fund Limited pursuant to section 303 of the Companies Act 2006 (the "Act"), requiring that Hurricane's board (the "Board") convenes a general meeting of shareholders. The purpose was to remove the existing board of directors.

On Friday 21 May, 2021 existing board of Hurricane plc informed Justice Zacaroli of high court of justice (Case no CR-2021-000852) that articles of Association prevented Hurricane from setting the requisition meeting before June 11th.If you look at the Articles, it is 21 days’ notice- so it could hold meeting on 8th June so not only it seems they mislead the judge but the basic idea is that shareholders are unable to vote out the board which is trying to push an unfair restructuring proposal.

Fact 2: -
On September 11th existing board of hurricane energy through RNS Number: 6811Y informed ‘’ the Company intends to engage with all key stakeholders regarding its forward work programme, capital allocation and financing arrangements.’’

However, the forward work programme never came and neither did hurricane ever engage with shareholders.
They have through RNS Number: 1528X on April 30th, 2021, declared that
‘’ The Company will execute a debt for equity conversion, which entails (amongst other things):
$50 million release of the principal amount outstanding under the Convertible Bonds in exchange for the issue of ordinary shares in the Company (the "Exchange Shares") comprising 95% of the fully diluted pro forma equity of the Company immediately following the Restructuring.
There will therefore be no meeting of shareholders to vote on the proposed issuance of Exchange Shares, nor will shareholders have a right of pre-emption in relation to the issue of the Exchange Shares.’’

They took this before court on May 21st for review by Justice Zacaroli (Case no CR-2021-000852) where Hurricane was asked to seek shareholder approval.