Member Info for DiveCentre

I agree.
CRS holders have a vested interest in seeing this deal go ahead, and there is one particular poster who claims he holds CRS and has sold out of HUR.

JBiddy

Do you assume that everyone who posts is genuine and truthful?

Oldman45

“Under note 3. on the proxy form it states that voters need to be on the Register of Members. I'm not sure we will be if our shares are held in nominee accounts such as HL.”

The voting member is the nominee Company who hold “your” shares in their name. You instruct your provider on how you wish to vote in respect of “your” shares and their nominee Company will then vote in accordance with your instructions.

I have instructed my provider, HSD to vote No.

Ian -c and ronwoking

Regardless of how Morrowsodali obtained your phone numbers they must have had a reason for contacting you. Did they ask how you intended to vote or try to persuade you?

It’s not just the lack of guidance. What it signifies is a total lack of regard for the interests of all PI’s who hold their shares in ISA’s, and or SIPP’s. Consider the consequences if the DCU’s are not accepted as qualifying investments. If this happens providers will be obliged to sell them within the 30 day limit for holding non qualifying investments. PI’s will have no choice. The mass sale will depress the price and investors will get a tiny fraction of the potential return. This deal has been made to suit the needs of CA and keep Maris and Chaffe on their fat cat salaries.

If the odds of getting the 6.48p are good then why is so much emphasis placed on the risk of production failure?

dflynch

"From a practical standpoint it would NOT be a good strategy to develop the case on a public bulletin board so I would suggest that all correspondence on the matter be conducted by private e-mail. This may be difficult, as I for one would not wish my e-mail address to be published."
Wise advice.
For all those who are serious about this rip off of PI's it is worth taking up premium membership, if only temporarily for one month. Personal contact details can be exchanged using the private messaging facility and it might also be worthwhile creating a separate private forum. Someone will have to take the lead in doing this. In my personal opinion those wishing to challenge the matter in Court need a barrister to represent them, which will mean having to first instruct a solicitor. Agreement will be needed on how to fund it.

Nobby
Did you read this paragraph from the RNS:
"JOG remains well funded for its on-going and planned work programmes, with a cash balance of approximately £6.5 million as at 31 December 2022. It is intended that the cash payments anticipated to be received from NEO following completion of the transaction will be utilised to pursue the Company's stated growth strategy and provide additional working capital for the Company."
I'm pretty sure this was not an idle comment and was intended specifically to ally any concerns of an imminent fundraise.

You are either plain lazy or your motives are questionable.

I wouldn’t say it was great as we are only half way. I think the market was underwhelmed. The mm’s clearly got it wrong when they hiked the sp up to £3.50 on open and what happened? All the traders gave it a thumb’s down and the price fell to £2.43 before recovering.
The main positive is the de-risking, as pointed out by dickupham. The prospect of seeing my investment melt away to nothing has been a serious concern whereas now I am much more comfortable holding, and may add.
I think it is safe to assume that NEO have bought in with the intention of proceeding with development as soon as possible, rather than leaving it on the shelf. The option granted to NEO to increase its 50% is worth noting. Did NEO press for this in case JOG fails to find another farminee? It will leave JOG with 12.5%, significantly less than the 20-25% they are hoping to retain. How will this value JOG’s retained share?

Hi,
Bought my first holding on 13 Feb 2017 at £1.70. Have since added and my only sale was to transfer into my ISA.

MPO818
This board has been visited by a swarm of traders attracted to JOG’s rapid rise like flies to a turd. I really doubt that any of them will have bothered with the rants of one particular poster. Read my post last Friday 16.31.

Very apposite.

Some people seem to have changed their tune from yesterday.

This uncertainty over retention of the DCU,s within ISA’s and SIPP’s is just another indicator of the attitude of HUR management and their total disregard of the interests of private investors.

Read the DCU deed poll page 11:
“6.1.7 The Company shall use all reasonable endeavours to put in place a Matched Bargain Facility which will be available to DCU Holders with effect from the Effective Date.”

Which implies that trading of the DCU’s will be possible.

But later on page 14 we have this:
“4. DEALINGS
4.1 No application has been or will be made to any recognised investment exchange (as construed in accordance with section 285 of the Financial Services and Markets Act 2000) for the DCUs to be listed or dealt in on any stock exchange.
4.2 The DCUs have not been and will not be listed on any stock exchange and no regulatory clearances in respect of the DCUs have been, or will be, applied for in any jurisdiction.
4.3 Accordingly, unless an exemption under relevant securities laws is available, the DCUs have not been and may not be offered, sold, resold, delivered or distributed (directly or indirectly) in, into or from any Restricted Jurisdiction or to, or for the account or benefit of, any Restricted Overseas Person.”

The question is will the Matched Bargain Facility be enough for HMRC to treat the DCU’s as a listed security. Paragraph 4.2 (will not be listed on any stock exchange ) suggests not but it is not a question the providers can answer. If HUR had any regard for private investors they would consult with HMRC and get a definitive answer.

The question to ask is why HUR have felt the need to put out this Q & A.
They will be very aware of the views expressed on this and other boards.
Are they getting nervous?

I do not often post on this board partly because I do not want to say anything that might be interpreted in a negative way. For those who continue to hold in expectation of deal why say anything that undermines the share price?
Tempers seem to be fraying which is perhaps understandable, but there used to be civility on this board and it would be a shame if it descends into a bickering match.

Kooba

No one has a moral obligation to RB.
Yes he saved the day for PI's with the bond scam but he did this solely for the benefit of CRS. Anyone you thinks he was motivated to help PI's is deluded.

I am still considering this deal and the problem I see is that if it is voted down we are still stuck with a useless management.

Yes. Once delisted the HUR chat page will cease to exist. By all means check with LSE if you wish but I guarantee my answer will be confirmed.
There is a Hurricane Energy group on facebook.

Kever
What happened to the 14p offer?

Prax are a very shady company and not one to be trusted.

https://www.thetimes.co.uk/article/the-quiet-couple-from-weybridge-behind-1-7bn-prax-petroleum-c3dhjq9b3