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Quote from this mornings RNS
" reinstating its dividend in the current financial year at 7.7 pence per share."
should produce significant positive SP reaction in the medium term.

Jerusalem is pretty hot just now!!

Deeno It's required by the LSE (the London Stock Exchange!!)to confirm the number of shares in issue, from which, by multiplying by the share price you can work out the Market Capitalisation (ie the perceived value of the company).

TGP have issued an RNS re cable damage identified by Orsted. fairly non- committal but says
" At this stage, in relation to our ongoing discussions with Orsted, we do not anticipate a material financial impact for Tekmar Group and we will provide shareholders with further information as and when appropriate."

Rich.... I haven't been invested here since early last year , I'm merely doing my usual thing of trying to explain market intricacies to those who aren't familiar with them .

RIch ...here .s ...then why is the SP still at 50% of the opening price?.
I am willing to accept it if I'm wrong but I am familiar with this stuff having made quite a lot of cash from HUR over the years (though not for several) and If you care to read my back pages you will see I know quite bit of the background and have met several of the players .When the dust settles I think my reading will prove accurate , but as said I'll hold my hands up if necessary.

RIch ...here .s ...then why is the SP still at 50% of the opening price?.
I am willing to accept it if I'm wrong but I am familiar with this stuff having made quite a lot of cash from HUR over the years (though not for several) and If you care to read my back pages you will see I know quite bit of the background and have met several of the players .When the dust settles I think my reading will prove accurate , but as said I'll hold my hands up if necessary.

HI British this para

A $50 million release of the principal amount outstanding under the Convertible Bonds in exchange for the issue of ordinary shares in the Company (the "Exchange Shares") comprising 95% of the fully diluted pro forma equity of the Company immediately following the Restructuring.
I read as meaning" a number of new shares equal to 95% of the number in issue currently "
The wording in the RNS is clumsy but the market reaction of a 50% SP fall means that the market agrees with my interpretation.
HUR have 1.99 bill share in issue now that number should rise to 1.99+( 1.99x0.95)=1.99+1.89 thus 3.88 bill after completion of the exercise.

Glad you're still around and hopefully solvent!!

In simple terms todays news means that in return for writing off $50 million of the convertible loans , the loan note holders will acquire ~49% of the company. the number of shares in issue will almost double to around 4 billion, existing shareholders are being diluted by 49% and that is almost exactly reflected in the current SP percentage fall on the day.
I used to hold here and some years ago reminded shareholders when the convi's were created of the hierarchy which places shareholders below all other claimants on the companies assets in a crisis . Todays news illustrated that point in the clearest possible manner.
The reasons why, are also set out , in present circumstances the value of oil revenues will NOT create sufficient profits to meet next July's bill for repayment of $220mill and remember HUR are paying 7.5% interest per annum in quarterly payments and will now continue to do so for a FURTHER 18 MONTHS, and the SP was never going to rise enough for conversion in to shares to be worthwhile - the conversion price is 32p per share!
While on the surface it appears that HUR have $127 mill in assets , it is worth noting that that sum includes forward sold hedges for oil , ie future revenues not cash in the bank. On Nov 30th last year the company had $87 mill of "free cash"
It's too late now but as an aside the likelihood of this was clear for those who read RNS's critically ,for example
7 Apr
"The Company continues to engage with an ad hoc group of its convertible noteholders over the Company's forward work programme, strategy, financing and balance sheet recapitalisation. It should be noted that there is a risk of significant dilution to existing shareholders from a possible restructuring and/or partial EQUITISATION of the convertible bonds and of potentially limited or NO VALUE being returned to shareholders.(my caps)

2 Mar

The Company has previously announced that it is engaging with its stakeholders on a proposed development plan and associated funding for the Lancaster field. The Company confirms that these stakeholders include an ad hoc group of convertible noteholders. Discussions on the Company's forward work programme, strategy, financing and balance sheet RECAPITALISATION are ongoing.

8 Oct 2020

As disclosed in the interim results announcement, the Company intends to engage with all key stakeholders regarding its forward work programme, capital allocation and FINANCING arrangements.

ALL of these are red flags to those who have learned to read between the lines of RNS's. I am sure it is little consolation to any of you but perhaps is a useful lesson in monitoring your investments closely and taking a pragmatic view ,sometimes exiting with small loss is better than waiting for large loss.

means that existing shares are essentially worthless. I used to hold here some time ago and will post a more detailed analysis later but if you hold , get out while there is some tiny residual value left.

The key sentences below are drawn from the CEO's Statement :

"The Board reached the conclusion in mid-February that we would be able to raise these funds through an equity placing and made the decision to go ahead with the fundraise and to launch Accrufer® ourselves in 2021.
We are building an excellent team in the US and are looking forward to the product launch, expected in June 2021."

Everything I wrote is verifiable , except for those statements near the end prefaced by "May well.... "and "is in danger of..."

Thought it was good time to inject some facts into the (misplaced?)optimism here.
Over the last five years RR have had revenues averaging £14bill pa yet in that period they racked up LOSSES of about £8bill.
Last years revenues were ~£11 bill and this years will be no higher, so another £3-4 billion annual LOSS is likely .
Last years deeply discounted RI raised about £2bill ie roughly six months losses. Expenditure this year will be £10-£11billor around 140-150% of the market cap.

On 11 Dec last year the company said they" expect to turn cash flow positive in H2 21". That will NOT happen.
On the same date they said they expected " At least £2bill from the disposal process" . That will NOT happen,
both the ITP and the Bergen disposals are beset with problems and buyers will not pay premium prices. Todays Times suggests that the Spanish Gov. insistence on no job losses at ITP will drive the price down. Disposals may well fall £200 -£300 mill. short of RR hopes
At the present run rate and despite the £9bill of liquidity the company is in danger of needing further funding within twelve months , that would be disastrous for sentiment and is why there is no significant II buying.
As I am sure is obvious ,having held and partaken of the RI and exited with a modest profit, I no longer hold , the reasons set out above explain why

fortnev...to claim means tested benefits in full you are only allowed £6k in capital. If you have more it is deemed to earn you interest which will be deducted from your benefit rate . SEE
https://www.moneyadviceservice.org.uk/en/articles/how-do-savings-and-lump-sum-pay-outs-affect-benefits#which-benefits-are-affected-by-savings.
hope that helps

fortnev...to claim means tested benefits in full you are only allowed £6k in capital. If you have more it is deemed to earn you interest which will be deducted from your benefit rate . SEE
https://www.moneyadviceservice.org.uk/en/articles/how-do-savings-and-lump-sum-pay-outs-affect-benefits#which-benefits-are-affected-by-savings.
hope that helps

Smiley and others I don't know why 3xRR doesn't track absolutely the SP movement , iIdo know that those offering the 3X hedge their exposure by using swaps and options in various combinations . for commercial reasons they will , understandably, not reveal who their counterparties are or what level and in what proportions their hedges are set .I do have some contacts with hedge funds who use the same techniques and believe me it is an obscure branch of investment in which even the experts can come unstuck , most of you will be aware of the risks of leverage exposed in the Archegos capital collapse and the big names and big brains who have fallen foul. The other element which is pretty much out of everybody's control is the herd mentality prevalent in investment these days where a minor problem can become a disaster within seconds . High leverage means your short term losses are uncontrollable and if shorting, limitless.

Jsmiley Sorry no intention to be condescending , see this from a recent post of mine for my motivation
" I post here occasionally with three purposes in mind , first to try to explain some of the ways in which markets work (see recent posts about "Beta"), second to offer informed opinion based on thirty years of successful investment and third to call out posters whose claims are clearly exaggerated or ill- informed"
I currently don't hold RR for reasons I set out in a post on 11 March but I recognise that this is an active board with many inexperienced investors , so I pop in occasionally to offer well-meant advice. you are free to take it or not as you wish but please accept my good intentions. to that end here's another reference which I think might be useful.

https://www.investopedia.com/articles/investing/121515/why-3x-etfs-are-riskier-you-think.asp#:~:text=As%20with%20other%20leveraged%20ETFs,of%20their%20respective%20underlying%20indexes.

To all those who are trading or contemplating trading 3x leveraged products I have some advice :

DON'T

If you had read about these products you would be aware of some very important points
These are a synthetic products ie they attempt to track the SP x 3 by a complex arrangement which works moderately well over short periods but essentially fails over long periods. They are to be used only for intra day speculation which is either soundly based on "insider information "and can be successful BUT is illegal or is as random as a punt on the turn of a roulette wheel.
I spent several years trading options which has similar risk but can be profitable if you do your homework and are a skilled market operator which I was (and still am!!), even then I had one or two extremely scary moments. It is clear why organisations offering leveraged products are require to say in big letters at the top of their screens " 75 % of people using them LOSE MONEY"
I draw attention to this sentence from the reference provided by seagull below

"As a general rule of thumb you can expect leveraged ETFs to perform better than you might expect in rising markets, and worse than you might expect in flat and falling markets"

I am pretty sure from the nature of your comment none of you have the knowledge , mathematical grasp or insight to use such products profitably , so I repeat my advice

DON'T

HI botbot... I post here occasionally with three purposes in mind , first to try to explain some of the ways in which markets work (see recent posts about "Beta"), second to offer informed opinion based on thirty years of successful investment and third to call out posters whose claims are clearly exaggerated or ill- informed . you have the dubious privilege of being my latest target .
You should be aware that most of your posting history here is available to all those who wish to see it . In my case having read some of your highly dubious claims to ownership of millions of pounds worth of shares I offer some of the "Highlights?" of your posting history .
28 may 2020 Re R4E " I have now added this awesome share to my portfolio"
4 Sep 2020 R4e delists shareholders lose all their investment.

28May on the NANO board " I CAN'T AFFORD a FT subscription(£278.20 per annum is what it costs me ) what does it say ?and yet you hold shares worth millions???
June 2020 a number of posts on the HUR board claiming to hold, price then 8p now 2.5 p, a more than 70% loss

8June CNN (Carnival)board " I sold carnival at £9.60 now £15""I had 10K" ie you claim to have missed a potential £50 k profit
and this prophesy " market has to crash" FTSE then ~6200 now 6980.
Ah but then on 1 July , 2July and 15 July posts implying that you still held CNN??which was it sell or hold?
It is clear from your posts that you are a fantasist and a liar . I offer this info so that others can also be aware of that and treat your input with the contempt it deserves.
best wishes
Casa