Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
RMT General Secretary Mick Lynch said: "The Government is once again not allowing the Rail Delivery Group (RDG) to make an improved offer that we can consider.
"Therefore, we have to pursue our industrial campaign to win a negotiated settlement on jobs, pay and conditions.
"Ministers cannot just wish this dispute away.
"They underestimate the strength of feeling our members, who have just given us a new six-month strike mandate, continue to support the campaign and the action and are determined to see this through until we get an acceptable resolution."
Perhaps we allowed them to extradite the wrong Lynch
It goes private on the date that the Scheme is activated!
I think he has the dates confused - probably the start of his half-term following the Bank Holiday.
BMT 12:50
I can understand the "cloggies" continuing to invest on the basis of the maths - but where are the others?
They seem to have accepted the risk, optimistically, of PRAX paying up on the DCU's. Wereas, the less naive, or more knowledgable, have a different view?
It is not a good deal for investors in the "know" and until the fat lady sings (no disrespect to the Judge intended) I will hang on for a better, and probably more certain result!
ASI 15:28
You've discovered a new feature - well done!
I hope it keeps you amused.
Kettle - Pot - Black will spring to mind with others, I'm sure.
Your mate, Is he black?
Notices convening the Court Meeting and General Meeting are set out in the Scheme Document, both of which will be held at The Science Room, Royal Society of Chemistry, Burlington House, Piccadilly, London, W1J 0BA on 4 May 2023. The Court Meeting will start at 10.00 a.m. and the General Meeting at 10.15 a.m. (or as soon thereafter as the Court Meeting shall have been concluded or adjourned).
Any changes to the arrangements for the Court Meeting and the General Meeting will be communicated to Scheme Shareholders before the Meetings, including through Hurricane's website at https://www.hurricaneenergy.com/investors and by announcement through a Regulatory Information Service.
I just wonder if tomorrow we will receive an RNS to the effect that the Court and Extra-ordinary Meeting will not take place?
I speculate of course, as I did previously on the 27 April about CA reverting to Plan A. Although, it appeared there may have been some truth in that speculation.
Save embarrassment all round – save for the BoD!
:-)
The scheme has to attract sufficient votes for approval at the meetings before submission to the Court for Sanction.
It is only if the scheme has been sanctioned by the Court will it become effective, and it is then when the dates for payments and cessation of trading on AIM will be determined.
The days of HURR appearing in the FTSE are in the future - if commonsence is exercised tomorrow!
This deal is on par with the deal promoted by "Sid" on behalf of Thatcher.
As a nationalised industry Thatcher sold British Gas back to the people who already owned it!
This deal allows PRAX to buy HURR for 0.83p per share (£16.5 million of their money) whilst HURR’s BoD attempt to deceive their shareholders into accepting 5.19p per share (£103.3 million) of their shareholders money as part of the deal.
Speculative DCU payments are just as speculative as future HURR income from proper exploitation of HURR assets under a different BoD.
Just look at what PRAX is getting for £16.5 million.
This deal is unfair to shareholders and everyone should be made aware of it!
So if P6 fails everything stops and Hurricane shuts up shop. The handsomely paid senior management of Hurricane having no contingency or workable alternative plan!
Really?
Instead of venting your spleen at contributors, why don’t you invest some of your, clearly expensive, time on researching the matter further, say with HMRC.
I am sure that Lloyds, iWEB et al will appreciate your efforts.
They will surely issue, gratefully, a retraction about their advice, and offer an appropriate apology once you prove them wrong.
Have a busy and rewarding weekend responding to the issue, but please be aware HMRC are probably closed until Monday!
According to the iWEB information.
If I had purchased 10,000 shares, at an average of 15p in my ISA / SIPP account it would have cost me £1500.
If this scheme is successful my ISA / SIPP will be credited with £502 in return for my shares. I will have made a capital loss of £998 which I am unable to set off against any possible CGT gains!
Are my calculations correct?
Appalling confirmation for those who have invested their ISA and Pension contributions into HURR!
The scheme is clearly unfair to a vast majority of small investors who have been dis-enfranchised by HMRC requirements, and now this !!!
I feel a bit like Casandra as my earlier speculative thinking seems to have more than a germ of truth in it.
Clearly CA and Kerogen would have considered failure of the bid by PRAX, and sell out by the HURR BoD, at the expense of their shareholders who’s interests they were being paid to protect.
For Kerogen it possibly would be seen as a further irritation that they would have in their extensive portfolio.
For CA it is more critical. Their majority shareholder, SABA, wants the fund liquidated. Reasoning behind this is unclear, particularly when CA were in an excellent position to have HURR turned around.
Success in Investment is said by some to be due to patience! I wonder now if SABA is reviewing their impetuous demand that CA liquidate the fund, particularly in view of the funds problem with De-La-Rue.
Would it now be sensible for SABA to ease the pressure on CA and allow them to go back to their original plan of an EGM and an arrangement with Albion?
It would seem that the removal of the posts, indicating from certain parties that they had explored the issue in depth, gives some credence as to what they were communicating.
I suppose the matter would be resolved if Albion would give further credibility to the posts that were removed. Indeed, some indication from CA that the plan was not dead – but as was the case with the Norwegian Blue Parrot - it was only resting!
All will, eventually, be revealed but the action of PRAX and the HURR BoD does not favour the majority of those with minor shareholdings in their HURR investment.
I voted No! I hope others will, but the deadline pproaches!
Well, we have less than a week to go now until we know the result of the Court meeting.
It will be an interesting result as clearly shareholders are divided with regard to the scheme as it stands.
Clearly, if the HURR BoD manage to achieve the result they desire, then the fight is not over. I am sure that we will have a re-run of the Convertible Bond issue and the involvement of the Courts.
Of course, the HURR BoD may fail so what could we expect?
I would think that the Dutch investors would immediately pull-out. They are only here for the speculative future income and their exit, probably at a loss as the share price will invariably drop, temporarily with the disposal of the Dutch shares.
But what about the major shareholders Kerogen and Crystal Amber.
Kerogen are a bit of a dark horse in this saga – they have inscrutable influencers but as an investment, HURR is probably worth peanuts and no more than an irritant that they wish clear of their investment desktop.
Crystal Amber’s situation is uncertain, but a bit of speculative analysis on my part wonders if they would revert to their earlier plan A – Plan Albion, calling an EGM and removing the incompetent HURR board and substituting Albion as a new and experienced BoD.
I believe that unwarranted pressure has been applied to CA to agree to the deal. I wonder if HURR’s share price would have risen back to 40p if Saba (CA’s major shareholder) had not insisted on liquidation of the fund (irony pervades CA’s major shareholder bullying minor shareholders into accepting liquidation of the fund when it was not necessarily in the majority of individual shareholders, best interests).
The liquidation of the fund is not going well (De-La-Rue is proving to be a problem) and maybe, because of pressure from their major shareholder, and in desperation, their better investment judgement was set aside and the PRAX offer accepted.
If CA were to revert to their original, and preferred plan of EGM and Albion installation. And Albion were willing to run Hurricane, then we could have the opportunity to re-discover “those missing billions of barrels of oil” that suddenly disappeared during the "Maris era". Furthermore, we would have a competent team running the company with the ability to plan and co-ordinate the proper exploitation of HURR’s acreage.
HURR’s future is NOT limited to P6!
I think he displays integrity - he stands by his values and expects others to do the same.
Hence the reason for his actions and comments about the dodgy BOD.