Hurricane Energy Share Discussion Threads

[laserdisc] 22/6/2023 08:13

no funds or dcu's in my hl sipp. Cleared funds of correct amount this morning at iii in both isa and trading,but no dcu's details show

[northwestwirral] 22/6/2023 07:59

No Funds in my HL account yet.

From H&L Dated 30th May 2023

If approved, the offer will complete on 8 June 2023. It is expected that the cash will be paid, and shares will be credited on or around 22 June 2023

[dunkirk1016] 22/6/2023 07:47

Anyone with Hargreaves HL heard or received anything. Thank you

[goldry] 22/6/2023 07:22

I'm not an expert, but my understanding is that both amount's and any income from DCU's will be taxed as if dividend income

[bocase] 22/6/2023 06:58

Roks: The DCU payments will be made (if revenue criteria are met) in installments paid on 30th Sept and 31st March each year until end of 2026. I don't know how the DCU entitlement will be shown on your brokerage account. Nothing is showing on my IG account yet.

[bocase] 22/6/2023 06:50

Goldry: I too have the two dividend amounts in my IG a/c of 3.32p and 1.87p but not the 0.83. I am sure it will come but what bothers me is that if the 3.32 and 1.87 are shown as dividends, which they are, will be taxed on these amounts when we do the tax return next year?

Any thoughts?

[oilretire] 21/6/2023 23:40

I also have the dividend in account but not the cash consideration of 0.83 pence a share. The HBOS share dealing.Not sure about the DCUs, will check tomorrow.

[cameo4] 21/6/2023 22:16

I have the cash consideration and class 2 DCU's but no dividend as yet in my AJ Bell SIPP.

[goldry] 21/6/2023 20:22

I've got the dividends but not the cash consideration in my IG account. They've blanked me about the DCU's.

[roks] 21/6/2023 18:30

I got my 6.02 in II today, when do we get the 6.48 and what form? will the cash come through in II or we get some certificates?

I totally forgot to vote, so its the default Class I DCU option for me.
Heck I am still trying to get my head around this dcu malarkey

[oilretire] 21/6/2023 16:28

I thought it was 'by' the 22nd June at latest, hence my question a few days back if anyone had actually been paid earlier than the deadline.HBOS taking it to the wire as no proceeds in there yet.

[laserdisc] 21/6/2023 15:13

yes just checked iii account i have received cash of 6.02p per share held. No allocation yet of dcu's

[enami] 21/6/2023 14:45

Dividend and Scheme of Arrangement payment received in my II Trading and ISA accounts today (Was expecting tomorrow).

ISA Accounts (excluding Junior ISA accounts)
The DCUs will not be listed on any recognised stock exchange, and as such will be ineligible to be held within an ISA.
Therefore, we will arrange for any DCUs issued to ISA account holders to be instead transferred to a linked trading account if you have one. If you don't currently have a linked trading account, we will open one on your behalf and transfer the DCUs into that account.

[aircraftfixer] 21/6/2023 14:02

Good afternoon, I have been off grid for a while, can someone catch me up as to what's going on in a summary! Mainly where the cash has gone from my account and when I'm likley to see some return! Haha! Thanks

[senseman] 20/6/2023 11:23

Courtesy PICSMAISTER LSE
RE: 7 JUNE HEARING - FULLER REPORT (PART 2) - APOLOGY FOR DELAY Today 09:13
Excellent post Senseman, and good account of proceedings. It was interesting acting as a Barrister for a couple of hours. There were periods during the hearing, when the judge was giving them a stiff cross examination, that the HUR team looked distinctly uneasy, even worried. But at then of the day we didn't have enough prepared ammunition to unpick their figures (as CA managed to do in 2021). I hope they deliver in on the DCUs but am not confident.

[rahosi] 19/6/2023 16:19

Did the Judge make any mention of the DCU tax liabilities and 'removal of investible funds' etc in respect of ISAs & SIPPs holders?

[northwestwirral] 19/6/2023 15:16

From H&L Dated 30th May 2023

If approved, the offer will complete on 8 June 2023. It is expected that the cash will be paid, and shares will be credited on or around 22 June 2023

[oilretire] 19/6/2023 12:42

Anyone got the 6p payment yet?

[senseman] 19/6/2023 09:53

Courtesy senseman LSE
7 JUNE HEARING - FULLER REPORT (PART 2) - APOLOGY FOR DELAY Today 09:46
The collective view of our group of 9 was, and remains - had we 1-2 weeks longer to prepare a Document & evidence bundle relating to the 'fairness' issue, and/or barrister/solicitor court representation, we may well have won. And that there was even enough in our short quality Document to enable the judge to refuse to sanction – the judge knew it was a stitch up - but brave judges are rare.

The usual suspects with spare cash who bought at 6p when the Scheme was announced, for free DCUs, or those imbued with spite, will of course pour scorn on this post like a rash. Ignore them. One of our group of 9 will post where the judgement can be read when we find out. And judges do not let 90 minute hearings run for 5 hrs on a whim. Nor do KCs submit a 25 page long 'Skeleton Argument' with an advised reading time of 2hrs unless they are genuinely concerned about a possible upset

[senseman] 19/6/2023 09:52

Courtesy senseman LSE
7 JUNE HEARING - FULLER REPORT (PART 1) - APOLOGY FOR DELAY Today 09:40
After Johns’ forum suggestion to contest the Scheme, a group of 9 resulted, namely:- Cat5: Johns: oldman45: picsmaister: RodneyT: ronwoking: senseman & 2 others who wish anonymity. All contributed, so forum thanks should go to the collective all. It just fell that 3 of us were able, and best equipped, to attend on 7 June.

We tried our utmost. The Judge in giving Judgement directly praised our Document quality, the collective effort, & the +30 private investor emails/documents he received. Our skill-lacking area was court-presentation a barrister or solicitor would have provided. HUR had Kings Counsel, Dentons solicitors, Stifel, Maris, Chaffe and others. Prax had Counsel & solicitors

HUR & Prax lodged large document bundles/witness statements (similar to 2021). It’s KC stated HUR knew from 2021 & current monitoring of LSE forum that SHs were activist, disagreed the Scheme, and may act. They were clearly genuinely worried. The Judge had sight of these but we did not - having emailed our Doc to the Court only on 6 June, we had not 'served' it on HUR, and thus left no time to be served HUR’s document bundles. The downside for us being the bundles included all the $3.4mill promotional guff including HUR’s fairytale P6 standalone 2026 8p end-figure (ie. magically marginally less than Prax’s minimum end 2026 figure) and high risk 1 well 1 pump exagerations. Astonishingly, even HUR KC's skeleton argument (we were provided copy at kick-off) was 25 PAGES LONG, and lodged at Court 2 days prior with an estimated 2 hrs judge’s reading time.

The 90 minute listed hearing lasted 11.30am-4.30pm, with1 hour lunch. Judgement reading took 45mins. The judge read HUR's gumph in previous days. Our late Document & appearance threw a considerable spanner in both HUR's easy-expectations, and the Judge's thinking, as our arguments were too meritorious to be easily dismissed.

Constrained by time & resource, our Document was merely 6 (SIX) pages, but of absolute research-imbued quality. It dealt almost exclusively with the head count (50%) issue. It contained only a paragraph regarding the 'fairness' issue the judge declared his overriding concern. He was guided by HUR's rogue P6 standalone cash projection figures being less than P6 under Prax, by HUR's rogue 'risk assessment', and the 87%-88% achieved by value vote (the 75% vote - thus 'most people’ being happy' – despite HUR & Ker’s 46% holding of all shares making the 75% vote a formality). Arguing verbally on these ‘fairness̵7; issues without our Document (+ an evidence bundle) substantively addressing them was a mountain too high. The Judge made clear that though cognisant of the 2021 Judgements, he was bounden to be guided by the evidence bundles provided by HUR. Our lack of time and resource to systematically dismantle HUR’s figures and assessments aka 2021 gave the judge an easy and perhaps understandable way out.

[cardiffian] 19/6/2023 08:46

I dont think it has been mentioned but having just read the "Deed Poll Deed of Amendment and Restatement" dated 8th June, you should be aware that any future DCU payment will be made on 30 September and 31 March or the next buisness day, not as i believe it was previously stated Jan 1 and July 1.

Just thought Id point it out, in case anyone was likely to work their finances around the original payment dates.

[guy_fawkes] 14/6/2023 23:29

It was about 12 months ago when HUR offloaded one of it's tankers at the Immingham Humber terminal ex TOTAL refinery now owned by PRAX which was probably a trial run and offload.. Wink wink scratch my palm and fill the brown envelopes and roll up my trouser leg.
Sorry for all the PI's who had the noose put round their neck and shafted by these criminals.

[wbodger] 13/6/2023 12:41

I couldn't get into Jenkins at all on Chrome but DuckDuck was ok when I copied laserdisk's link over. Nothing visible on DCU or Prax though. Too soon? Or one of the "23 other companies"?

There is a contact page with an email and phone. They deal with brokers, so it may be worth asking my broker what the trading fees and procedure are. I expect JPJ prefer to deal with certificates but nominee brokers usually have a full service offering too.