Hurricane Energy Share Discussion Threads

[dave999dave999] 05/5/2023 09:22

yes if the judge is aware of the situation, and you would hope they would be. They could indeed say thats not fair..thats not approved, or suggest a way to make it fairer and set a new date for them to come back with a modified scheme.
BUT you would expect the scheme design and the documents we have seen, to have been across the desks of legally qualified people, and the company and many investors do think it is fair, so i think the chances are low.

dpends on your average i'd suggest

unless of course we get same judge as last time :) He may well be more attuned to the way this company tires to treat its small private investors, and just put in that tiny bit more scrutiny. for exmaple if the share price in the run up to the day was considerably higher than the offer. eyebrows might be raised. If its the same as the offer, well chances are its a rubber stamp exercise, and the judge is playing golf by 2 pm, after a rather nice lunch.

will the judge look at the deal and decide that the PIs who put money into the company are being short changed out of the benefits they expected, now that a new company with new plans has takenover the asset that they financed.

Dave

[rahosi] 04/5/2023 21:28

Re:- "Completion of the Acquisition remains subject to the satisfaction or, if applicable, waiver of the other Conditions set out in the Scheme Document, including the Court sanctioning the Scheme at the Court Hearing which is expected to take place in June 2023."

Is it at that point the judge might rule that the T&Cs of the acquisition are unfair on PIs who have ISAs or SIPs?

[marmar80] 04/5/2023 18:43

Approx 4-6 weeks to decide if you want to stay in or out.

[marmar80] 04/5/2023 18:42

Court Hearing in JuneCourt Sanction Hearing A date expected to fall before the end of Q2 2023 ("D") --------------------------- Last day for dealings in, and for the 6.00 p.m. on D registration of transfer of, Hurricane Shares --------------------------- Scheme Record Time and record date for 6.00 p.m. on D the Special Dividends --------------------------- Disablement in CREST of Hurricane Shares 6.00 p.m. on D --------------------------- Effective Date of the Scheme(7) D+1 Business Day --------------------------- Cancellation of admission to trading by no later than 7.30 of Hurricane Shares on AIM a.m. on D+2 Business Day

[marmar80] 04/5/2023 18:40

Some large sells out there hence I said what I said

[kooba] 04/5/2023 16:27

Why would Ophorst be selling ? They were buying for the deal I thought...there is volume but the price is steady ..looks like they are buying more to me. Maybe they think some chunky acquisitions go in and the full 6.48p gets paid quite quickly and they get 4 fold their net investment back?

[marmar80] 04/5/2023 16:14

A lot of sells, wondering if Ophorst and others are selling now

[marmar80] 04/5/2023 15:30

"Completion of the Acquisition remains subject to the satisfaction or, if applicable, waiver of the other Conditions set out in the Scheme Document, including the Court sanctioning the Scheme at the Court Hearing which is expected to take place in June 2023."

[scaleyman] 04/5/2023 14:34

No ky jelly required!!

[wbodger] 04/5/2023 14:20

Thanks both.

Accepted that this will be a good deal if HUR eventually get 12.50 pps, the fact is it is controversial because the market share price has been greater than the cash part of the offer. Even though the Supplementary Dividend brings the cash payout to 6.02 it was always going to be hard to persuade shareholders to accept less than the trading SP, around 7.5 pps.

I think it was crazy of Prax not to take a little more risk going in, and structuring the quasi-guarantee including Supplementary Dividend to 7.5 pence. That 1.48 pence will be covered by what we know of Lancaster, so there was not much risk to Prax, and I think a lot of PIs would have taken it. Not everyone of course, but a much more straightforward nodding on. If Lancaster finishes very early they might drop some money, but the Tax Credits would make it up.

It is the chiselling down of the price to avoid even a hint of risk that makes Prax look stingy.

[kooba] 04/5/2023 12:41

Presumed we would hear something far earlier due to meeting start times as couldn’t attend and wasn’t paying that much attention , though it would be unusual for GM to go on longer than an hour i would have thought ..this is a GM not an AGM and has limited but specific resolutions that shareholders have already had to opportunity to question..and did at some length apparently.

---------------------------
Court Meeting 10.00 a.m. on 4 May
2023
---------------------------
General Meeting 10.15 a.m. on 4 May
2023(5)

[laserdisc] 04/5/2023 12:35

my estimate for rns is around 13.30pm thats based upon timings re last vote

[wbodger] 04/5/2023 12:20

Anyone know anything?

No RNS, compounded by InvesteEGate no longer available for any RNSs. (Daft message by some company in Llandudno saying "bear with us". End of InvestEGate apparently.)

Sensemun (or someone) on LSE posting infantile rubbish under Id Kever.

Are the share even trading? Why are they not suspended until RNS announcement?

Sorry for being kranky. Just, are there any grown-ups left?

[kooba] 04/5/2023 09:05

CRS and kerogen cannot be lending stock out as it loses you the vote and they have pledged their entire holding , could be someone's nominee company ..which means some shareholder votes might not count as the party borrowing the stock effectively gets to vote the shares. HL do not lend out client shares but others might..folks might want to check."...you won't have shareholder voting rights when your shares of stock in that company are on loan."

[marmar80] 04/5/2023 08:30

Yeah, makes sense laser, on the very last trading day (if they sell it to Prax) they will close positions.

[laserdisc] 04/5/2023 07:33

Significant Increase in stock on loan for April average 42,011,807 shares

March 2023 average was 12,366,944
some past stats here for
2022
Jan 10,790,194
Feb 13,494893
March 12,161259
April 18,749018 running @ 1%
May 18,114657 running @ 0.98
June 17,050579 running @July 16,064506 running @ 0.87
Aug 17,076184.running @0..92
Sept17,311779 running @0.94

[idc48] 04/5/2023 06:07

Good luck today senseman, may the no vote succeed

[wbodger] 03/5/2023 20:46

Sheepshagger !!

Repeating myself ... #37475 removed ... Derek spamming now.

(Derek is a member since today and has spammed 110 ADVFN threads !!)

------------------
Edit 4/5/23: Derek peters post #37484 also removed by ADVFN admin. With presumably 110 others! Spam, spam, spam, spam ....

[laserdisc] 03/5/2023 19:14

tugs now assist Altera wind into port terminal berth for prep of unloading Lancaster oil into Neste refinary tanks

edit 541,000 being unloaded draft 12.6m timeframe will be updated draft at Lancaster prior to pickup 8.5m Pumping timeframe against volume
2023-05-0319:50 BST Navigation status changed moored
edit
left port on 2023-05-05 03:17 MyT (UTC +1 draft returns to 8.5mtr 6 hrs of safety checks ? bit high, more like 3 hrs on this advanced vessel so we have
20,000 @27hrs =540,000

2023-05-0502:59 BST Unmoored Porvoo
2023-05-0502:59 BST Navigation status changed under way using engine
2023-05-0502:55 BST Navigation status changed under way using engine
2023-05-0502:55 BST Unmoored Porvoo
2023-05-0502:30 BST Destination changed New destination: CATCHER
2023-05-0502:30 BST ETA changed New ETA: 2023-05-08 23:00 UTC
2023-05-0423:38 BST Navigation status changed moored
2023-05-0416:41 BST Moored Porvoo
2023-05-0416:05 BST Unmoored Porvoo

[senseman] 03/5/2023 18:11

kooba makes fair point current further US banking squall not making for good oil optics. against that is bigger picture:

courtesy senseman LSE
"Bloomberg
'The assessment aligns with the view of Bloomberg Economics, which estimates Saudi Arabia needs an oil price above $80 and perhaps closer to $100 to meet all spending commitments and ensure the stability of the social contract between the government and the citizens.6 hours ago'

Saudi (and most if not all OPEC+ countries need minimum $80 oil to balance budgets. Russia currently needs $110. OPEC+ will cut production further to maintain $80 if it does not recover from latest US banking squall within reasonable timespan. Also, India currently importing 4x Russia discounted crude than usual, refining, then onselling to EU (UK is biggest buyer) as petrol or diesel thus infilling 1mill bpd recently lost via Russia sanctions. Whereas this currently legal, Baltic states won't let this continue thus expect soon political pressure to close this India sanction loophole.

For these reasons (there are others) I would be most surprised even astonished to see Brent below $80 at next offload 2 months time (2 months is huge in oilspeak). Hence dismiss kevers at al's oil scaremongering. 2023 oil demand remains set to be highest ever. Always retain faith in bigger picture. We got $82 April offload. At $80 going forward HUR's P6 standalone cash projection figures remain nonsense"

[kooba] 03/5/2023 16:30

Brent back at $72...not a great backdrop whichever way this goes.

[senseman] 03/5/2023 14:31

courtesy senseman LSE

GENERAL MEETING 4 MAY 10.00am - ATTEND IF POSSIBLE - MAKE THE EFFORT
The Science Suite
Royal Society of Chemistry
Burlington House
Piccadilly, W1J OBA
Nearest tubes: Green Park & Piccadilly, location 5 mins walk from either
Arrive: Latest 9.30am (to allow time to chat with other PIs), cup of coffee and a biscuit

It is the last opportunity for those SHs on the Hurricane Energy Register of Shareholders, who have not yet voted, to vote.

Though unlikely to be a formal presentation or Q&As, there will undoubtedly be opportunity to ask Chair and other BoDs questions (i) before voting (ii post voting. Including specific details/information concerning the Sanction Hearing (date as yet unset), in the event HUR, against majority PI wishes, win both 4 May votes. Remember - HUR must have a judge consider all Scheme details and voting results before sanctioning (giving Court approval) for the Scheme to proceed. Hence 4 May is not fat lady singing time - that comes, if it does, 3-4 weeks later.

IT IS YOUR COMPANY - ATTEND IF POSSIBLE - MAKE THE EFFORT - DO NOT LEAVE TO OTHERS

PIs will likely decamp to The Clarence 4 Dover St W1S 4LB, 3 mins walk from meeting, when usual post meeting speaking with HUR execs/BoD ends.

[marmar80] 03/5/2023 08:56

Ophorst added again