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Mariog
sorry to have to correct you but the Ex Div' date follows the record date. For entitlement to a dividend you must hold up to the close of trading on the record date. The next day stocks trade Ex Dividend, i.e. without entitlement to the dividend which is why the share price will usually drop roughly by the amount of the dividend.
NMBS
Before CREST it sometimes happened that a sale would take place shortly before the Ex dividend date and the seller still received the dividend. It happened because of delay in updating the register and the seller still being on the register as at the record date. The buyer of the stock on finding they have not received the dividend would inform his broker and they would contact the sellers broker claiming payment. The sellers broker would then write to their client informing them of the claim and fingers crossed the seller would repay.
With CREST it should not happen and if CREST are saying the Ex Dividend date is the 6th I’m fairly sure this is what they have been told. It is more likely that either Hurricane or their registrars have made the mistake and given CREST incorrect information. Remember that Hurricane never mentioned an Ex dividend date for the dividend element, only giving the record date for the transaction, however the apparent error has only applied to the dividend and not the cash element or entitlement to the DCU’s.
It is a monumental balls up and it would not surprise me if Hurricane/Prax end up having to settle claims.
I do find Kevers numerous posts rather amusing as it suggests he is miffed at missing out on windfall.
The next offload is due shortly and it will be interesting to see where it goes to. LTH’s will be aware of the BP contract and I am wondering if Prax will tear it up as they have their own refinery. So if it goes to Immingham you can be pretty sure it is destined for Lindsey and the BP contract is dead. The question then is what will Hurricane get for its oil. What will the discount be because this will impact revenue.
Halifax share dealing are now showing a valuation of 1p for the DCU’s. No idea where they get this from as JP Jenkins are showing 1.77p. As many will know HSD, which includes I Web and Lloyds have said they will not trade the DCU's via the matched bargain facility. Can anyone with another provider say if their provider has advised on participation in the Jenkins trading facility.
Duchess21
In that case you are entitled to the dividend. If it is not showing in your account speak to your provider. They should also be showing your DCU entitlement so check that and query if necessary.
Duchess21
When did you buy?
thanks kinel.
i'm with hsd who also run i web.
interesting that lloyds say they have checked with crest.
i am wondering if there has been a monumental **** up.
Broomtree
You asked:
"will that be via Prax website?"
where else would you expect to get definitive information other than from the Prax website.
Kinel
That's interesting because I have had a similar experience. My provider has also declared ex dividend date as the 6th.
Who are you with?
Broomtree
I am rather surprised at the naivety of your question. The Hurricane Energy website was taken down immediately on delisting and now the only source of information is Prax, unless that is your are a subscriber to the font of all knowledge “kipper”
Classic sign of a narcissist.
Machin
I make it a policy to not mention other companies unless there is relevance to the subject of the board. When members do you have to ask why and do they have a motive. If you want to see what Companies other members are interested in you only have to look up their posting history.
CHELMOCHASE
"the market can’t ignore this stock forever at some point it will wake up and price it correctly"
The market will continue to ignore this company until such time as there is a conclusion to the farmout process.
When the RNS drops the sp will move. In the meantime it will drift with sentiment.
A reminder to all members. This board is about HUR, and NOT where to invest your recent cash payment.
Should have been paid at the same time unless Prax have welched on the deal.
"The matched bargian (sic) trading will start at 0.5/1p as that is all the DCU's are worth currently."
Prior to delisting HUR shares were trading at around 7.7p, a premium of 1.68p over the promised cash return. Logic would suggest that the market was therefore valuing the DCU's at 1.68p. Why would a DCU holder now be prepared to sell at 0.5p or even 1p when 2 weeks ago they could have got 1.68p.
But then again there is Kever logic.
NS Tiger
What do you think Prax will do with Lancaster, just keep P6 flowing until it becomes uneconomic or drill another well and find a gas solution. Personally I think they will drill but interested to have your opinion.
Broomtree
Are you not aware that Kever has a priority service whereby he gets paid in advance of the plebs.
Or might it be that not every thing he says is truthful.
Broomtree
IWeb are operated by Halifax share dealing and they have informed clients that the DCU’s cannot be retained within an ISA package, to quote their advice:
“As the New DCU's will not be listed on any Recognised Exchange as defined by HMRC for ISA qualifying purposes. Your New DCU's will not be eligible to be held in an ISA. Should you hold your Hurricane shares within an ISA, we will transfer your New DCU's to your Share Dealing Account should the Scheme become effective.”
Chaffe said they had asked HMRC for a ruling however nothing further was said so we have no idea if HMRC have replied yet or not.
I imagine HSD have issued their advice based on their knowledge of ISA regulations so I’m not sure if is a definite, but I’m inclined to believe they cannot be retained.
HSD also told me in a telephone call that they do not have the systems to use a matched bargain facility so you are locked in unless you go through the hassle of transferring to another provider.
Sharvey44
If you read back through his posts you will realize he is fantasist and a liar. Ask him about the 14p offer.