Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The takeover panel has not yet approved the offer. Regarding insider trading complaint to FCA, Insider trading is happening and rampant right before our eyes. These forms 8.3 and 8.5 are not imaginary. However regarding FCA itself, I can agree it is the most dumb body in UK that we currently have. It will be an email in the bin but we should always try.
1) Please write to takeover panel at supportgroup@thetakeoverpanel.org.uk explaining why this takeover is against smaller shareholder interests. This may frustrate or delay the effort of takeover.
2) Please write an email to whistle@fca.org.uk explaining how stifel nicolaus has had access to insider information which it has been using to buy and sell shares.
3) Please write an email to sanjeev.kumar@praxpetroleum.com explaining him why smaller shareholders are not happy with the offer and will vote against it. However, urge him to offer a price that will be acceptable so that the deal does not face issues.
4) Please keep an eye on which court our case goes to. We need to be present in front of the judge and also write to him beforehand explaining why small shareholders want to vote against this deal.
5) Finally write to board of directors and Richard Bernstein.
Last year, the shareholders led a big effort of writing emails against the bondholder takeover. It is time again when all shareholders who feel this is a raw deal need to start writing a few emails. The deal is first going to approval to take over panel. Then the courts and then to the general meeting.
1) Please write to takeover panel at supportgroup@thetakeoverpanel.org.uk explaining why this takeover is against smaller shareholder interests. This may frustrate or delay the effort of takeover.
2) Please write an email to whistle@fca.org.uk explaining how stifel nicolaus has had access to insider information which it has been using to buy and sell shares.
3) Please write an email to sanjeev.kumar@praxpetroleum.com explaining him why smaller shareholders are not happy with the offer and will vote against it. However, urge him to offer a price that will be acceptable so that the deal does not face issues.
4) Please keep an eye on which court our case goes to. We need to be present in front of the judge and also write to him beforehand explaining why small shareholders want to vote against this deal.
5) Finally write to board of directors and Richard Bernstein. Going by experience of round 1 when the board decided to sell us to bondholders, none of the board members responded positively. This time around also they will do the same. Once they decide the path, they want to shove it down.
Sense man or the writers who helped us first time around, will appreciate if you can provide an email template with some sensible content to write to everyone.
And with all the No's this deal is not going through unless some more PI's loose their sleep over this.
Pretty sure, this is not the real deal. This was to shake off a few more PI's given the games I have seen in AIM Casino. Unfortunately the system is so rigged and so corrupt that had we not got CA previously, the bondholders would have shafted us already. This time they probably convinced CA to be on the side of the bigger sharks.
My 2,114,191 for no please.
Yes, that bit got me confused first time around but then noticed that it is no of millions, shares * 1000
The board is in cahoots with the bigger sharks in the market. They are allowing these bigger players to buy low and sell high with a very small margin difference. Most of these buys are around 6:50-7:50 and sells between 7:75 to 8:50
More like a scam document. My thoughts are this scam document was floated to scare a few more PI's out as these continuous form 8.3/8.5 show that the bigger sharks are unable to get the smaller fish. The real deal will come out a few weeks later.
given the excel spreadsheet, the ordinary PI's can easily defeat this motion. There is no loss here. The current sp and the money we are going to receive are almost same. No need to sell. Vote against it. This board, aim casino are all pitted against ordinary shareholders as long as they can make their moolah. The earlier deal by Maris was corrupt, he was in cahoots with the bondholder cartel. This time they just have offered something to CA which is not available to ordinary PI's. Let's just vote this resolution out. The board has never changed.Reminds me that a snake never changes its habits.
CA, Kerogen and the board have roughly 45 percent shares. We do not need to and i will vote against this deal but we have to get all shareholders on table to get this deal rejected.
There is an undertaking from CA on hurricane website
https://www.hurricaneenergy.com/investors/formal-sale-process
So it does seem CA is accepting the offer and so does Kerogen. I guess we have to accept it then
The company is well worth in fact way above the price given its intellectual property, acreage, producing well, no debt, cash reserves and being a British strategic asset. Not sure whether the current market condition plus the board's approach is hindering a firm bid.
A return of capital distribution is a characterization of an entity’s dividend payments to shareholders for income tax purposes. It is a distribution in excess of an entity’s current and accumulated earnings and profits. Different from dividend income and capital gains distributions, return of capital distributions are currently non-taxable to shareholders, unless the distribution exceeds the shareholder’s basis in the stock prior to the distribution. Instead, a shareholder’s tax cost basis of the stock is reduced by the amount of the distribution, which increases the amount of capital gains (or decreases the capital loss) to be recognized when a shareholder sells his or her shares. The portion of distribution payments that are considered return of capital rather than taxable income will be reported in Box 3 of the Form 1099-DIV that WMB shareholders receive at the end of each tax year for a WMB stock investment. It is possible that a portion of a distribution is classified as return of capital whereas the remaining portion of the distribution is considered taxable income.
https://investor.williams.com/stock-info/return-of-capital-distribution/default.aspx
Capital return outside an ISA is also tax free.
It looks the markets are preparing for the capital return being given back, that is why sp is coming down.
Hi, In event we show this as capital return which means it is not taxable. If we then sell our hurricane shares for a loss then can we claim further capital loss on them. It seems this is a complex accounting area. Surely that doesn't seem correct
ok thanks!
Is that you who is suggesting a 14p bid news on advfn?
Any sources please? I did not find any news with regards to same.
It feels that we are going down the dividend route finally. The meeting postponement to me suggested that there is an offer that the company is considering. But it seems it was a genuine royal mail delay and there are no enticing offers. That is fine. Dividend or capital reduction in our case is a return that will happen in the longer term. Everyone will get at least 10-11p and more possibly which is a no brainer. Companies are willing to take up any risk given the basement and the nature of drilling oil in it. 7.7p was based on actual cash discounting all the capital loss, intellectual rights, acreage and the producing well etc. The problem is the current environment . Very limited risk appetite. Else 15p offer here was such a risk free no brainer option. But looks like capital return it will be.
The entire cartel is built to never give small man his share of profit. Why doesn't the board announce the other offers they have received? Are they allowed to legally sit on them?