Hurricane Energy Share Discussion Threads

[cardiffian] 30/5/2023 13:57

johnboy, u have 3 choices:

1. Sell now and as u state, cut your losses.

2. Hope for a better price over the next 4 trading days but still take a loss.

or

3. wait til later next month, get 6.02p per share guaranteed and anything from 0p to 6.48p per share over the next 3.5 years, the relevant amount payable every 6mths.

[johnboy69] 30/5/2023 13:11

I need some help here from someone who understands the situation because I don't have a damn clue. I've been in from the start with 52,000 shares at 48p largely due to " Malcy's " recommendations. Should I cut my losses and sell now or is there a chance of getting a better price at a later date? Any info would be greatly appreciated.

[marmar80] 30/5/2023 08:57

Yeap same here. But you never know. Their average is near 7.50 so buying a few millions at price over 8p will not hurt them. There are also other buyers so 8p+ should happen this week in my opinion.

[wbodger] 30/5/2023 08:48

Morning marmar.

This is the last full week to trade HUR. I think next Monday they can be traded T+2 but after that it will have to be negotiated, T+1 or same day depending on broker advice. But must settle by Wednesday 7th June.

Ophorst will have to offer 9 pence to tempt me, otherwise I'll take my chances with the DCU.

[marmar80] 30/5/2023 08:38

Good morning.Ophorst holding in 70m shares.

[cruelladeville] 29/5/2023 15:52

Malcy - "Hurricane Energy, selling £20 notes for a fiver"........ How wrong can any one person be? Malcy was too drawn in by Trice's "I know stuff and I'm not telling you" smirking demeanour. Cost a lot of little people a lot money.

[glavey] 28/5/2023 05:54

Late in the day for Malcy to stand on his morals. Perhaps he should take a good look in the mirror both to reflect on the past and when entering his posts in future.

[senseman] 26/5/2023 19:50

From Malcy's Blog re Hurricane:-

"Off to court then on June 7th where shareholders will remember being kept alive by the Judge who ruled against the NED’s who tried to wipe them out. The fact that on what is National Chocolate Ice Cream Day, a wonderful company which had the opportunity to be a British Champion in the North Sea can be effectively sold for less than a choc ice, is a shame and a scandal that certain people who should know better presided over. You know who you are….."

[janekane] 26/5/2023 18:35

So when do we get paid by the takeover merchant

[marmar80] 26/5/2023 13:02

The funds will be buying up to 8.50p in my opinion. Anything under is very attractive to them and pretty secure if Prax uses Hur's taxes and buys some producing wells, which I believe is the plan.

[marmar80] 26/5/2023 11:29

Ophorst added more. Possibly today took a few as well.

[marmar80] 26/5/2023 08:05

Full year results out. Great numbers show again how lucky Prax must be with that deal.

[marmar80] 25/5/2023 08:13

Volume low. They need to increase the bid again.

[wbodger] 24/5/2023 21:54

Has any thought been given to a nominal price for a DCU for Capital Gains purposes? At the present trading price of around 7.70 pps once the Scheme is effective in two weeks time HUR shareholders will be entitled to receive cash of 6.02 pps plus one DCU which may or may not be ISA-able, but seems to be SIPP-able, and seems to be valued by the market at 7.70-6.02 pps in today's market. That is 1 68 pps. That will change to a market assessment of how much the DCU is valued at 4:30 pm on June 7th, when a Hurricane Share could (in theory) have fetched the last quoted price.

That would allow me to work out my Capital Gain/Loss on my HUR Ordinary Shares. After that either the Deferred Compensation is taxable as Dividend Income, or the DCU would have to be treated as an investment originally costing 1.68 pps and taxed as a Capital Gain on that amount when it is surrendered.

Is that how this is going to work?

[marmar80] 24/5/2023 07:08

There will be no trading on a day after. If anyone shorted it to buy back on the last day, which sounded like a clever idea, this will not work anymore.

[laserdisc] 24/5/2023 07:04

Court Sanction Hearing has been scheduled for Weds 7 June 2023.
see todays rns for timetable of events

[marmar80] 23/5/2023 15:28

I am wondering if we will see 8p by end of this week

[kooba] 23/5/2023 14:48

I don't think there is a set date yet , they need to get NSTA approval etc ( below) which was anticipated mid May..not heard anything so far. Once such approval received they will set a court date to make the scheme effective. That will then trigger the cash payments/dividends dates and the delist date."The Scheme is also subject to satisfaction (or, where applicable, waiver) of the other Conditions set out in the Scheme Document, including approval from the NSTA and approval under the NSIA, and the approval of the Court. The Scheme is expected to become Effective in Q2 2023. The Scheme will become Effective upon a copy of the Court Order being delivered to the Registrar of Companies for registration.It is intended that following the Scheme becoming Effective, the London Stock Exchange will be requested to cancel trading of Hurricane Shares on AIM. Such cancellation is expected to take effect shortly following the Scheme becoming Effective."

[marmar80] 23/5/2023 09:33

Volume lower, time for the MMs to move the bid a little higher. 7.70 EoD imo.

[evilblues] 23/5/2023 08:08

Anyone know when court case and delist is? Many thanks.

[marmar80] 19/5/2023 10:57

I mean you could transfer your shares to the brokerage account. Then DCUs will stay on your brokerage account.

[brinks_matt] 19/5/2023 10:52

marmar - not sure. The DCUs are not currently recognised on any exchange. The loan notes (outside of ISA / SIPP) may provide the workaround, but you get no benefit for holding the loan notes, and credit setttlement will be 6 months after Class II DCU holders will be paid in cash.