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You seem to be a somewhat lonely voice on here.
Very encouraging RNS but talking 2026 so a further delay to wind up?
Still hoping for divi/capital return Jun/Jul
Last post: broomtree, 4 May 2024 14:55
Is there anyone else holding this? Looking back if would appear we might have a June xd with a July payment. We’ve had the sale of the DCU’s and the payment from the remainder. Have to wonder will they start unload some of the DL holdings given the increase…… they are certainly dragging this wind down out!
Really surprised there’s been no distribution announced. I seriously hope there are going to be no more investments into the two remaining holdings?
So they sold a lot of DCU’s at a premium and they’ve now had the most recent payout from the remainder yet silence? Getting more and more difficult to understand the wind down plan here
Selling the DCU’s perhaps shows some intent to move towards wind up. If they can get a good premium why not? Will be interesting to see if we get a divi
Last post: Gerald57, 7 Feb 2024 15:12
Ok thanks for that, be interesting to wait and see what they pay out then.
Gerald - sorry missed that, the Prax payments are the DCU payments from the sale of Hurricane (which CRS was a big holder of) they are paid March and September until 2026 and a max of 6.48p in total. If paid in full (and it’s oil dependant) it will effectively double the Hurricane price - expect cash in bank following month (I was also a share holder) As I said it will be interesting to see if they pay it out, continue buybacks or invest in other holdings
OK with that, nothing anywhere on the dark web about them tried everywhere to find some info.Prax payment when is this happening
I’m holding until at least the Prax payment. Would like some confirmation of the run down plans before deciding longer term
Ok thanks for that is it time to sell or sit on it, I know it's up to me but in your opinion
Started: Gerald57, 24 Jan 2024 12:56
Last post: Gerald57, 24 Jan 2024 12:56
Hello, can anyone tell me what happened to the dividend i use dividendmax to check on my shares and dividends but Crystal Ambers' next and future dividends seem to have gone?
Pretty dreadful results. A reminder they forced sale of Hurricane far too cheaply at the year's Brent lows.
Saying De La Rue share price has doubled since 23 June 2022 is simply a bare faced lie.
Betting the house on speculative Morphic Medical Inc which doesn't even have a certified product. But because it's not listed they get to assign a value to boost NAV - which they charge their fee percentage on. To top it all off Bernstein continues to take whopping fees into next year, reneging on previous promise to reduce them proportionately. The board are clearly just his puppets.
I was lead to believe hurricane were paying a special dividend of 5.19 per share and prax were paying 6.02 per share and also a dcu of up to 6.48 per share. Don't know where the special dividend has gone and trying to find out is a waste of time. Can anyone explain it to me in plain English.
Anyone else here previous Hur shareholders?
The 'special' dividend didn't pay the 6.02p/share as promised. It is 0.83p/share short (the cash).
Started: Johns.., 26 Jun 2023 08:03
Last post: Johns.., 4 Jul 2023 15:23
How much did CRS pay for Dlar and what would it of averaged down to after today's but in ? Thanks
Posters thoughts on whether RB might be considering using the 15 mill held back from hur monies to be buying more De la rue shares at this lower price to average down ?? Thanka
Started: formerlyeasyp, 15 Jun 2023 08:48
Last post: 404x, 23 Jun 2023 12:08
Expecting Odey Asset Management to offload their stake here soon
Worth remembering there’s another 25p return built in over the next three years with the DCU’s pending
My bad sorry! Should have read down the page a bit. In mitigation I still feel disappointed by the HUR deal but time will tell as to how well CRS did from it. I suspect the Lancaster Field has years of oil left in it.
The drop is due to the dividend doing ex-div today so a natural 25p drop..
I took a small loss and sold after watching CRS screw up the HUR deal. Suddenly today the market drops CRS by 28%.....what is going on?
Started: broomtree, 6 Jun 2023 10:44
Last post: Morbox, 14 Jun 2023 13:54
Interesting today how the spread has closed. One good thing no major sell volumes today. But yes tomorrow will be an interesting moment. I wonder if they will issue a new NAV statement tomorrow. Last one was 117p so less - 25p. = 92p where we are now (ish).
Will be interesting to see how this reacts xd given the discount
Wish they were still in Equals, I think that company is going places.
If they don’t have to throw any more into ‘money printing’ we may get a further return
Broomtree, you were spot on. I was hoping for 30p oh well, not sure the impact is going to be on the NAV.
Not exactly, as it’s a fund, so it will have an impact on the overall NAV (long term). Not sure how much of the discount is already baked in.
Presumably with this share the price will drop on ex dividend day by 25p but is it likely to recover soon after that
Started: Tonio, 14 Apr 2023 17:30
Last post: Morbox, 18 May 2023 11:53
Not much confidence in replacement, wonder what CRS thinks?
As above
Classic dog-in-a-manger-ism….
I’m sorry for your losses in HUR.
If deal goes through recommend paying particular attention to the cut they take through their fund management fees, ie will it still be worth paying ~2% of NAV for this?
Related to that worth scrutinizing the validity of their post-deal quoted NAV when it comes. By that time the vast majority of the fund will be in non-public instruments. For example how are they valuing the speculative biotech GI Dynamics? Also worth noting currently they can't place a NAV value of Hurricane any more than the market cap whereas if/when deal closes they will have room for more 'interpretation' and charge fees accordingly.
The deal looks unlikely to be derailed. The value potential for CRS TODAY isn’t reliant upon the deferred consideration.
HUR holders disappointment at the deal isn’t relevant to contemporary purchasers of CRS shares…
For anyone who believes that the Hurricane deal will go through, that the deferred consideration will be paid by Prax and is willing to wait the 3 years for payment in full, it begs the question why wouldn't you just invest into Hurricane rather than via this fund. That way you get the capital return entitlement in full directly on your own terms. Each to their own but without Hurricane the remainder here is struggling.
My post says: “This without attributing anything for the HUR “deferred consideration units”
Couldn’t be clearer. Who is being a “bit naughty”…?
Last post: Partrytime, 20 Mar 2023 13:57
In case you missed this from Hurricanes bb
RE: All shareholders please write toToday 12:37
Hi All
The following message has just been sent to Mr Maris.
Dear Mr Maris
You may recall I wrote to you on 8th February reminding you that any decisions that are made which are unfairly prejudicial to
small shareholders can result in a claim being made against you for unfair prejudice.
I have some concerns surrounding the present offer being put forward by the Directors.
Whilst I can understand that CA having nominated Directors on the board will be in possession of certain information which
is not in the public domain I cannot understand how Kerogen are in the same position. Would you please explain how this shareholder
became aware of such information that prompted them to endorse the offer with an irrevocable undertaking of support ?
Whilst on the subject for the sake of clear transparancy I must ask you to confirm that neither you or any other representative of
Hurricane made any approaches directly or indirectly to other institutional shareholders with information of the offer and attempting
to solicit support prior to the offer being made public?
For the avoidance of doubt I refer back to my earlier message and advise that the current count of independent shareholders who
might create Group Litigation is in excess of 80.
I do not intend at this stage to comment on my views of the offer. I do require a response to the questions raised in this message
very promptly.
Thank you
Make sure also to let us how Kerogen were involved as they have no board representation, or am I wrong.
I think the current CRS support for this deal has left a lot of Hur and CRS shareholders shocked and feeling they’ve been left ‘up a creek without a paddle’ - you’ve indicated you’re going to explain your actions; with respect this needs to be done ASAP
Started: papajoe, 18 Mar 2023 22:35
Last post: RG27, 18 Mar 2023 23:48
Whilsy working in the Middle east and Africa I have previously seen similar deals and obviously under less regulated environments a deal such as the one that is proposed for the rather unbelievable offer by Prax for the purchase of Hurricane would be acceptable only if there had been collusion and sweeteners involved, luckily we do not invest in such unregulated environments and times and our BOD would not be involved in anything as underhand as to do so. I am sure that there can only be a very valid reason why the executives of CRS has aligned itself with this, on the face of it, a particularly bad deal. I wait for their reasoning with interest.
I’ve been in Hur since 2014 and dabbled in CA as well over that time. I am staggered that after all the efforts and costs that CA put in to save Hur from the original crooked deal, they then sign up to this awful deal for peanuts. It just goes to show that the board have no clue or care towards the people who actually put up the money, they are in a win win situation whichever way it goes. The rest of us will now have to dig a little deeper, work a little longer because of their greed. Vote them out I say! I wouldn’t be surprised to see the share price heading closer to the low 90s’ from the fallout of this farce. Vote them out!
Started: ronwoking, 18 Mar 2023 20:14
Last post: ronwoking, 18 Mar 2023 20:14
I can only think of 2 reasons why CRS is supporting the hur acquisition scheme.
1) the are confident given the new CPR reserve estimates that the return on the DFU’s will deliver a good profit for them.
2) OR they have already negotiated a future sales agreement for their DFUs with a third party to deliver a good profit for them.
Just my personal opinion ofcourse.
FYI the volume of opinion on the lse chat site for hur is overwhelmingly hostile to the scheme.
Started: hxulcolrdoh, 10 Mar 2023 20:26
Last post: RG27, 17 Mar 2023 12:20
One must wonder why this offer is being backed by CRS.
It is so obviously a poor deal for Hurricane SH's and certainly for CRS with it's approx 29% holding in Hurricane.
Something stinks, three years CRS have been trying to keep Anthony Maris (Hurricane CEO) in check. Hurricane Energy look to have turned a corner and CRS accept such a low ball offer. All CRS shareholders along with Hurricane shareholders are being Fckd over with this deal.
I was a long term holder here but sold out this morning. The portfolio had already taken a turn for the worse to put it kindly, with De La Rue alone value falling 50% in 12 months and having a corruption case pending, the sort of thing I wouldn't normally touch with a bargepole so started to feel a bit uncomfortable here anyway.
The Hurricane deal is grim imo as covered extensively on that board. With the portfolio here being shot to bits actually surprised share price here hadn't fallen further so all things considered a relief to be out.
I would point out to CRS shareholders that the headline value that Prax has set on the purchase of Hurricane (£250 million) is not a guaranteed figure, the only guaranteed amount is £87 million, the remainder is not.
Prax would appear to be unlocking Hurricanes approx £230 million cash pile for a pittance with more to come.
There is something rather unbelievable about this deal and the fact that the Hurricane BoD would even consider it.
I also find it extremely worrying that CRS should have allied itself with this deal.
It does not enhance its share value in favour of all shareholders.
As a shareholder inHurricane I'm certainly not happy with the deal.
It certainly does not appear to be a well negotiated deal and would appear to use Hurricane's cash to finance the purchase of the company.
There is no guarantee of fair value for Hurricane sh's and I do not see that the deal is also in the interests of CRS shareholders.
I'd like to know why CRS would appear to be in favour if the deal.
It would appear Barclays now own 17% of CRS?
News imminent?
Wishful thinking by moi?
Started: easyp, 22 Feb 2023 08:23
Last post: senseman, 26 Feb 2023 11:38
NAV fell because HUR SP fell half a penny mostly 'cos Brent fell and no news. Just temporary numbers
Probably more than two folks on the BB.
End game, I suggest you keep your fingers, legs and eyes crossed that Hurricane receives a sensible offer and that CA happily accepts a 10 - 12p which should help the NAV a little.
In the meantime take the dividend ( at least my holding is showing a profit albeit a smallish one) and wait for the final whistle.
Honestly, are there just two folks on this board? No comments for weeks despite the HUR fiasco and the latest NAV published showing down to 122p......tumbleweed blows down the street.
What is the end game for CRS and HUR?
Started: broomtree, 12 Jan 2023 18:10
Last post: easyp, 1 Feb 2023 15:26
Still no firm sign of the ca$h from HUR!
Show me the HUR money!!!!!!
I’m not sure what in the Hur update brought about the ‘pause’ regarding the management but hope it’s not a ‘smoke & mirror’ exercise and we can get on with a return of cash and/or sale
Started: propaganda, 19 Dec 2022 11:00
Last post: broomtree, 21 Dec 2022 12:13
Lack of demand and very low volumes but this morning the actual rate was sell 95.25 and buy 97.75 so in reality it’s not so wide
Can anyone explain why spread on these shares is so high at 4%?
Cheers, makes sense.
Further to my last, we are sharply down this morning.
Any views on why?
Purchase HUR shares as non-Exec director perhaps?
A director selling shares? Why now? Might be getting divorced but unexpected imo.
Started: klse1, 11 Nov 2022 09:10
Last post: klse1, 11 Nov 2022 09:10
Looks like this will turn out ok in the end. Glad I held on
Started: TalygarnTom, 2 Nov 2022 09:38
Last post: TalygarnTom, 2 Nov 2022 09:38
"At the end of last month, the Odey fund's merger arbitrage positions were: Crystal Amber at 5% of net asset value, Liberty Media (SPAC) at 4.8%, Resolute Forest at 4.6%, South Jersey at 4.3%, Emis Group at 3.4%, and Intertrust at 2.4%."
https://www.forbes.com/sites/jacobwolinsky/2022/10/21/how-this-odey-fund-preserved-capital-in-september---and-so-far-all-year-long/?sh=aadac9b28703
Started: easyp, 25 Oct 2022 10:02
Last post: easyp, 25 Oct 2022 10:02
Getting fed up with this, when is CRS going to liquidate and pay out?
The HUR situation needs to be clarified asap. HUR a debt free cash cow delivering 9,000 bopd at somewhere around $90 a barrel and yet CRS has not extracted fair value from it? A number of ways this could be done yet silence from both boards on where we go with HUR?
I too an interested in buying into this company - however when i try to get a price through IG...They only offer the fund for for sale and not the company. Can you buy the company through other providers or is the fund only available to buy? I am looking to derisk my holding in HUR!
I'm interested in buying shares here (have been with HUR for years), and the dividends look good. Well, great! From what I've read, the next is paid in Feb, if bought before mid-end of Dec. Am I right or wrong? Thanks.