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Looking good .. :-)
dflynch,
I may be wrong but aren't you referring to the second para here (i.e. the 10% clause)?
When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained).
When interests in shares carrying 10% or more of the voting rights of a class have been acquired by an offeror (i.e. a bidder) in the offer period and the previous 12 months, the offer must include a cash alternative for all shareholders of that class at the highest price paid by the offeror in that period. Further, if an offeror acquires for cash any interest in shares during the offer period, a cash alternative must be made available at that price at least.
when that kitchen sink news came in i knew the bigger MM's are at play trying to eat away at this little cake. The smaller shareholders, even shorters who may think are smart are also game for the big fish, always. We will never know the truth about the actual resources, kitchen sink or whether bondholders want a piece but this will be gone for cheap soon.
"Just feels to me like kerogen and CA are hatching something here ..."
and the board are complicit imo I wonder if Spirit /Centrica are in on it too?
Just feels to me like kerogen and CA are hatching something here ...
Sunday 18:16
"... Looked it up and that bid needs to be based on the highest SP for the last year..."
Correct - but it is the highest SP paid by the bidders, not the highest SP paid in the market.
Therefore, if a prospective bidder purchased shares at the highest SP of 6p in the 12 months proceeding that will be the minimum bid.
What are the maximum prices paid in the past 12 months by Kerogen & CA?
Interest Growing !
It is "Crystal" clear that HUR SP is just simply crazy undervalued at present which IMO will now result in a truly massive upward correction rally in coming days/weeks/months ahead.
If the last update didn't "close off the downside" then the new CEO will instantly lose all credibility. HUR would be truly gone then. If though they painted a picture so bleak that things can only look up, then the next op update should have some glimmers of hope.
Easy to ramp.. until the next operational update.
Kerogen triggering some kind of hostile take over is what is going to move share price here.....
Looks like seller fatigue setting in. Should rise now on minimal buying pressure. If we get any half positive news on forward drilling program or financing discussions then double figures here we come...
Chesee
Well on your advice I just bought 200k (shares)
I still expect it to make its way to 0.5p but Bernstein's ramping may see it to 4p before that...
If I lose money I expect you to apologize
Going to fly today last chance under 3p
Tomorrow opening price possibly after auction - 2.95p. Closing price Mon 3.40p.
By Weds 4.5p
"All I'm asking for is a fair bid...45p should do it.."
Funny you should say that, as when someone posted recently that when a company amasses 30% of the shares they can/need to put a bid to the shareholders. Looked it up and that bid needs to be based on the highest SP for the last year. When I looked that up, HUR were around 46p up to the back end of November 2019. Don't think I can be that lucky
"All I'm asking for is a fair bid...45p should do it.."
I'm not a greedy person. 29p will do it for me. If only.
All I'm asking for is a fair bid...45p should do it...
If not already, bidders will soon be lining up for HUR at this rate (Hostile & Friendly both) IMO, interesting times ahead.
what if CA are buying the bonds up at the same time? then form a join take over offer with kerogen? use the existing cash to buy the bonds at 100% and CA / Kerogen use the booked profit made on the bonds purchased at low rates to refinance the company?
"Yes. CA are also mindful that if they hover shares it will make it more difficult for shorters to close. What a rotten but of luck"
Yes short term CA may have dealt the shorters a googly. Tomorrow morning could be interesting if the shorters look to close out amongst the 'new' buyers coming in on the mail story.
Made me chuckle thinking my Friday jibe of, "would'nt want to be out of this over the week-end" day's are long gone. Perhaps they haven't
Anyone know roughly what CA's average is here? They will want the sp well above that before they start to dump, I'd have thought, given how many they've got to shift.
Prospects for a huge recovery post the kitchen sinking here are significantly improving; HUR present estimated reserves, and price of Oil have both clearly much more upside potential than downside risks IMO, also, new Hurricane management now firmly in place, seems more proactive, efficient and focused on cost management than before, hence now with CA adding their weight/cash on HUR, odds of a massive upward rally here towards a “fairer” SP are rapidly increasing, as no doubt IMHO that we are currently way undervalued in HUR.
GLA
Tread cautiously, there's also the opportunity to average down for CA. They can talk it up knowing it will increase the buys. Sheep will follow.
Beware of the Trojan Horse. Once they get to a break even, they could dump the lot, shattering everyone else's chances.
Business is Business.
Hope to God I'm wrong, but there's rarely a rosey picture with this share.
Yes. CA are also mindful that if they hover shares it will make it more difficult for shorters to close. What a rotten but of luck