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....is the key for me. They handed HALO a generous price fix for gas supplies which shows they have a good relationship & confidence in AC. There is clearly an opportunity to exploit that relationship in a more value enhancing way for someone with the energy and ambition to suit. The lack of any visible plan for HALO is so frustrating. FFS talk to your shareholders !!!!
Natural Gas Hedging
Additionally, hedging arrangements are now in place for 2020-21 to better support the gas price HALO realizes for budgeting and corporate finance. The Group has entered into a hedging plan with ENGIE covering the following volumes and prices:
• 64% of annual sales @ €17.80 in 2020
• 24% of annual sales @ €17.63 in 2021
Further hedging will be considered in 2021 and beyond to further protect company revenues from any continued gas price volatility.
HALO are in such a good position for someone to come in and drive the company forward. The Engie relationship is a great selling point. Either AC delivers something or we act for change. I doubt much will happen before XMAS. There is a chance someone will make an offer for the biz or merge into an already listed company maybe. We need to keep pressure on AC to talk to us.
Has anyone tried to contact Rasik Valand ? What is the corporate structure of Third Energy Holdings Ltd?
I contacted Third Energy to enquire about their involvement with HALO:
"I’m afraid we have no record of HALO and so this must have been something that Rasik Valand did privately. And you are correct, Rasik left our business in the first half of 2019 so we no longer have any contact with him."
Ghost you're more up to date than most, certainly me, but the co sec is listed on the website (out of date perhaps) as Matthew Small in Bath, and the lawyer as Simon Staples of Ashfords in Bristol. The 2019 AR has Mr Small as co sec still, and Linklaters in Amsterdam as the lawyers. All are also perhaps worth a try if no-one has yet (maybe the Mr Garland you contacted is at Linklaters though?). They'll presumably feed back to AC the fact that shareholders want updating. Might create a stink to persuade or shame AC into action if nothing else, and professional firms like Linklaters may ultimately have concerns themselves about acting for the likes of HALO if relations with shareholders are deteriorating for want of basic communication.
I recall having a chat at an AGM at Ashfords Bristol office with the then co sec (Brian ??) from that a/c firm years back when HALO was Wessex and I think still listed on plusmarkets. David Bramhill was Wessex's Chairman or CEO then, and he went on to found UJO I believe.