Member Info for Corryvreckan1

They will issue an RNS to advise the relevant dates once known and confirm the amount - just look out for it and you will know at the same time as the whole market does.

For anyone not aware, LSE is being hit again the same way it was two weekends ago. Spam bots or more likely AI/machine learning chat bots that put previous posts through a bot and then repost the same sentiment with a few words changed. This time they seem to be trying to answer questions on a few boards as well, using auto responses generated by the bot.

harleyharley is one of them, so is Felk that posted yesterday. Best not to engage unless you want to be assimilated into the hive...

NURSE!!! Bring the syringe. No, the other one, the bigger one.

Emerald, step away from the catnip.

Deffo - you are misreading that table on the stock exchange. And all of those trades there are also visible via the 'ATM Share Trades' button at the top of this page.

"Only retail trades are reported on investment websites such as lse.co.uk" - that's completely false. LSE and the others all receive a similar data feed from the stock exchange that includes all those trades listed there, whether retail or insti. Some trades (normally if outside a certain size/price) can be delayed or late reported to help keep an orderly market, but that's all.

And the market never reports whether a trade is a buy or a sell, that's just an algo on this site (and others) comparing the trade price to the middle of the spread and then guessing which it might be.

At this stage I'd expect the AGM notification may be included in the FY RNS next Wed. Fairly common for companies to that.

Update was already issued on 7 Sept ahead of AGM, HY results is the next update due 23 Nov.

You’re welcome, glad to help.

I should have said that this is just my interpretation of the scheme and not advice. I’m not a tax expert but do have some knowledge and experience of these things. Please do read over the pages around that bit of the scheme to be clear for yourself before making any firm tax planning, happy to discuss further if you have questions. If anyone else thinks I have misinterpreted anything then please do post here, I’m open to challenges backed up with a valid source.

I’m glad you don’t have class 1 as I gave up trying to work out the permutations on those from the wording in the scheme!

Best wishes, Corry

Laserdisc – the section you quote (Section A on page 81) relates to part of the previous payment already made on 21st June. It means that if HUR had not made the ‘supplementary dividend’ payment at that time, i.e. if they had NOT received the proceeds from the April uplift in time to do so, then Prax guaranteed that they would make the payment instead as part of the purchase consideration (that's the "Deferred Consideration Cash Amount" they refer to). As HUR did make that payment in time (the 1.87p element) it is classed as a dividend for income purposes, and the Deferred Consideration Cash Amount is no longer applicable.

All future DCU payments received from Prax, including this month, will be treated as capital and potentially subject to CGT, not as dividends or any other form subject to income tax (per Section B on page 81).

Separately, if you did sell your DCUs via Jenkins then the proceeds from them will be treated as capital as well.

Note that if you elected to receive class 1 DCUs then you will not receive any cash at the end of this month. You will, instead, receive a loan note for the amount to be paid in 6 months time (so still within this tax year). Class 2 DCUs was the default option that gives the cash straight away when due.

Hope that all helps.

KGF getting a real beating for those results, but mainly due to their overseas operations so no real read across to WIX. Just sector sentiment taking a hit today.

Confirmed - DCU payments are potentially subject to CGT, depending on individual's tax circumstances. See Section VIII of the Scheme Document, page 81.

Message for laserdisc on ADV - I think your quote maybe comes from Investopedia? That relates to US companies - IRS is the US Internal Revenue Service. In that article further down states:

"There are several other requirements for qualified dividends:

The dividend must have been paid by a U.S. company or a qualifying foreign company."

Also, I don't think the DCUs are classed as 'interest', they are part of the consideration for the purchase of Hurricane, just delayed, hence 'deferred consideration unit'. My understanding is that payments received are therefore treated as Capital, but I need to check that again.

This is from the Q&A document issued in March:

“Q36 Will we be updated on company actions and direction?

Prax will provide updates via its normal communications channels. Under the DCU Deed Poll, within five Business Days after each Payment Date, the company will provide a statement to the DCU Holders as at the particular Payment Record Date of the amount of the Deferred Payment made on the relevant Payment Date. This will be reconciled once yearly with the annual report published on Companies House. In addition, Prax’s website will be the main channel of communication with all stakeholders. General news will be found in the News section with more specific investors related communications in the Investor Relations section.”

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I imagine most PIs have their DCUs held via broker nominee accounts so the statement, which will be issued by the Registrar (Computershare), should come through your usual broker comms channel. The first DCU payment is due by the end of this month so the statement should be sent by end of first week in October. Check the Prax website that week as details may be published there before your broker gets round to updating you.

If you hold your DCUs privately in certificated form then the statement should be sent to the address on your certificate.

Note that Hurricane Energy has been renamed to Prax Upstream Limited (Prax Upstream) so any comms will likely be issued in that name now.

LSE Admin have already deleted most of the spam accounts so ignore my post below about the NCYT board as the posts have gone. The posts had provided further evidence that they were 'Artificial' but they forgot about the 'Intelligence' bit.

LSE Admin have already deleted most of the spam accounts and their posts should disappear soon after.

It's a spam bot swarm using chatbot tech to reword previous posts. They hit multiple boards over the weekend but LSE Admin have already deleted most of the accounts and their posts should disappear soon after.

Yeah, you can often tell by the repeat 'signals' once you know what to look for. I can see at least three accounts on your Predator board and they have hit multiple boards.

And to prove how these things fail the Turing test, have a look at the top 5 posts on the NCYT board, post 4 and 5 down particularly revealing:

https://www.lse.co.uk/ShareChat.html?ShareTicker=NCYT&share=Novacyt

Hard to tell what the point may be, either just disruption or something more sinister. Possibly even just testing LSE's protocols to see if they can get round them in a certain way. It's happened several times before, usually at the weekend when they might get away with it for longer.

Erik - the 'plants' are a spam bot that has hit many boards this weekend. They are just scraping and rewording previous posts, in this case JohnHenry's original question on 31/8. Best not to reply on any thread they create, I suspect LSE Admin will be deleting a lot of posts in the morning.

And to prove how these things fail the Turing test, have a look at the top few posts on the NCYT board:

https://www.lse.co.uk/ShareChat.html?ShareTicker=NCYT&share=Novacyt

There are multiple other 'signals' in the posts over the weekend that I won't highlight as it seems to be learning already.

Hello, HAL. Do you read me, HAL?

Same applies to KMc's post

It's a spam bot that is scraping text from previous posts and reworking them with a few subtle differences based on using different words with a similar meaning. It's spammed quite a few different boards this weekend, user name always follows the same format, and a new account just opened. The worry for LSE admin may be if this is also getting round their sign up protocols, or is there human involvement?