Hurricane Energy Share Discussion Threads

[laserdisc] 13/6/2023 07:04

Prax Group Announces Successful Extension And Amendment Of Its $1 Billion Securitisation Facility

extract
This certainty of funding provides us with a solid platform from which to execute our growth strategy, enabling us to implement our future objectives

[kooba] 12/6/2023 19:09

Cant see a level in DCUs on JP Jenkins..if anyone happens to see one could they let the board know.

[brinks_matt] 09/6/2023 11:50

afaik, DCUs cannot be held in ISA or SIPP

[rahosi] 09/6/2023 10:33

I know HMRC were asked (in one of the RNSs) but never saw a response being reported. There was some comment about whether the DCUs would be tradable, which now seems to be the case.

[bocase] 09/6/2023 10:18

I don't think so Rahosi. Only listed shares can be held in a stocks and shares ISA

[rahosi] 09/6/2023 09:43

Further to the JP Jenkins announcement yesterday, can the DCUs be retained in an ISA?

[bocase] 08/6/2023 20:05

Now we know the DCU's will be tradeable I am wondering what value they will have.

Obviously we know that the maximum value is 6.48p but there is a lot of risk going forward until end of 2026. I assume therefore that they will trade at a substantial discount to that value but may rise towards it if and when the time elapses and de-risking takes place. On the other hand if production falls they will fall too.

Trading is by way of match bargains though so I don't know if we will be able to see a current price.

This is a new scenario to me so I am just thinking aloud really. If anyone has better knowledge I am sure we would all be interested to hear those thoughts.

[cardiffian] 08/6/2023 17:47

RNS issued re the above matter.

[laserdisc] 08/6/2023 16:40

i am told so but we await further info when dcu's are issued this broker platform may be involved although no confirmation at this time

[feuille] 08/6/2023 15:16

Are the DCUs tradeable ?

[laserdisc] 08/6/2023 14:16

HURRICANE site now re directs you to prax
yes 6p by 22/6/23 plus 1 dcu for each ordy share which could possibly pay a further sum up to 6.48p by 31/12/2026

Each Hurricane Shareholder will receive one Deferred Consideration Unit for each Hurricane Share. The Deferred Consideration Units confer an entitlement to receive 17.5 per cent. of all future Net Revenues earned by the Hurricane Group, including from both the Lancaster Field and from any acquisition made by Hurricane, from 1 March 2023 until 31 December 2026, capped at a total of 6.48 pence per Deferred Consideration Unit (£129.1 million in aggregate). The Deferred Consideration Unit payments will be paid biannually in arrears other than the Deferred Consideration Cash Amount which is payable within 5 Business Days of the Trigger Event.

[janekane] 08/6/2023 13:52

So what are we getting for our shares looks like just over 6p is this figure right

[bill hunt] 08/6/2023 08:48

Not should not be there.

[bill hunt] 08/6/2023 08:47

Many thanks to those who have fought the cases and many who have contributed to the knowledge and insight of the working of the company and the detail they have provided. The directors have been less than careful about private investors and have not, in my view, disingenuously inept.

[lovewinshatelosses] 07/6/2023 21:57

Yes, well done for trying and thanks for updating the chat board. If this was a movie, the result would have been different, but in the real world, Luke Skywalker loses.
So, well done to the gravy train merchants past and present in this company.
You have got away with some disgraceful commercial failures and some business activities/decisions that IMO have fallen considerably short of executing your fiduciary duties on behalf of the company shareholders.
Good luck to everyone else though.

[wbodger] 07/6/2023 21:29

It was a long shot but well done trying.

The government needs to look at the points you raised: shareholders winning a court battle to avoid catastrophic dilution, then unable to gain the benefit of that victory because the Nomad threatened to quit, and then the Nomad and surviving executive engineered a very poor deal which was carried using Section 26 of the Company Act 2006. Altogether dodgy, needs changing because enhanced cram down powers were never intended to apply to this situation (see "In the money" argument in court) and threat to appeal the court verdict was used to keep Maris and Chaffe in post against shareholder wishes.

But move on. If the DCUs perform it will have to be a consolation prize.

[marmar80] 07/6/2023 20:35

Fair play to you guys

[senseman] 07/6/2023 20:16

courtesy senseman LSE

COURT RESULT Today 20:14
Just back. knackered

90 min hearing started 11.30 ended 4.30 with 1 hr break. judgement 45mins to read out

bad guys won, scheme stamped by judge

judge said many good things superb document before court great representations on day etc 30 emails overnight et, but

but hands tied re court vote law and on fairness he accepted HUR's P6 standalone figures and their risk assessment and so did 87% who voted for deal so must go with that. said fairness was the fundamental issue. would have taken full 3 day hearing same as 2021 to prove their figures and risk assessment are toilet tissue they paid nearly $4million to produce

dflynch, picsmaister and i attended. no doubt both will expand when recovered. i may also in few days. sad day all round, a decent company being sold for peanuts by incompetent salaried pygmies so their gravy train continues - after all that happened in 2021. only fools can consider today a good day for SHs. at least we tried - so now we can sleep easy at night

[laserdisc] 07/6/2023 17:58

I est next offload around 12th July . 9 years invested hopeful for a few more pence over the next 3 years so will continue to post here

[laserdisc] 07/6/2023 17:48

Dealings in Hurricane Shares will be suspended with effect from 7.30 a.m. on 8 June 2023

[laserdisc] 07/6/2023 17:47

SANCTIONED RNS OUT

[wbodger] 07/6/2023 17:37

(Odd there has been no RNS with the Court result.)

[sell it high] 07/6/2023 15:10

To be clear if we don't sell today then we pay dividend tax on the pay outs going forward (8.75% after the £1,000 dividend allowance)?

[laserdisc] 07/6/2023 13:45

yesterdays Insolvency & Companies Court cause list was updated at 4pm so should get some news today

[rahosi] 07/6/2023 13:33

Is there a timetable for the hearing today? Or best guess when a decision might be published?