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Question is : Are there going to be any other better bids?
FWIW It wouldn't bother me too much if there wasn't and HUR went down the Dividend route. Whether I like it or not I'm tied to this share for as long as it takes. As a LTH I'm resigned to losing on it, just a matter of how much. If HUR goes down the dividend route then at least I'll be getting something back and with a bit of price movement I may be able to trade my average down a bit over the next 2-3 years
"and so a low, low bid may just cut it........"
7.7p was a low low bid, so out of mild interest, what's your low, low bid figure?
Good to see you back Senseman. Cracking post with lots to be digested. So much so that I've made a copy as 'good' threads seem to have a habit of disappearing off these boards. ;-)
Some people do or a least the minor partners of a project I was on wanted to come to the North Sea to see where their money had gone at the back end of winter
Thanks for your thought DYOR, hadn't thought of 'site visits' but I guess there will be at least one 'jolly' organised which will take time to coordinate and organise in it self
Anyone have any idea of how long this sale process could take?
I figure it can't go past mid to end Feb 23 as for a Q1 divi there needs an ex div period but other than that, no idea.
Yes, seeing their holding of 26million + I wonder if Dr Trice still has his 26 million
" If we pump till dry that tax benefit dies so it is a bit of poker, "
Something I hadn't thought about. But, I guess conversely presumably as long as we're pumping some oil the tax benefits are still in play. Well 7 may yet have a roll to play for HUR ;-)
"I'd say anything over 10p and we're sold"
FWIW, I think it will be comfortably above that as CA obviously agreed to the fallback position of issuing Dividends. I don't think they are in the rush some people seem to think and have a figure that includes some benefit of HUR's tax situation. After all they've been highlighting it in their news roundup to their shareholders. Can't seen them not selling without getting something for that.
"There is so much going on under the table at the mment that we'll never be able to keep up with it."
Yep thought the same this morning. City calculators will burning the midnight oil for a while I feel churning over the various permutations.
Made me wonder if we the lowly PI's and joint owners will ever get a sitrep from the BOD. Doubt it even if they are allowed to.
odd that the earlier one hasn't shown up on LSE
All good thoughts.
The more I think of it the more I think this a ruse for CA's share to be sold off books. Big carrot that 3.1p dividend in Q1. Spend around £48m now and get back £18m next quarter.
"there's two years between the numbers"
Yep realise that but CA's RNS is Jan this year, bit of a slip to mention that much dosh if it wasn't relevant I feel
"Didn't CA promise its shareholders a 60p dividend that didn't materialise"
I did get to wondering how much of the £18+ million dividend CA would get from HUR in Q1 23, would go towards that CA 60p
From CA RNS 22/1/22
“During the quarter under review, the Fund engaged with management regarding the utilisation of tax losses. At 31 December 2020, Hurricane had ring-fenced trading losses of $468.7 million and supplementary charge losses and investment allowances of $707.8 million. In addition, capital allowance pools of $383.5 million were available to be used against ring-fenced trading profits. In the event of a corporate transaction, the Fund believes that the benefit arising to Hurricane's shareholders could be very substantial.”
From HUR RNS 2/11/22
“Over $370 million of value available in tax losses, as at 30 June 2022”
Can anyone please shed some light on why the potential tax benefits mentioned in the CA RNS, don’t get a mention in the HUR RNS?
“….but I have a nasty feeling that might not be the case in the next few months.”
I guess it depends on whether your sell figure is the same as CA’s or not.
My take, CA are obviously calling the shots here, the BOD know they are the biggest kid in the playground so need to be kept happy. To be happy CA want money, so they’ve come up with this plan to sell the company at ‘X’ price (‘X’ being (7.7p+Y) and what CA want for their HUR stake, which might not even be what HUR is actually worth).
If that fails then CA appear to be happy with the dividend strategy as a fall back as an initial 30%+ divi is not to be sniffed at.
Additionally, as a sideline to HUR being on the market, CA have also inadvertently or knowingly put their 29% into the shop window for anyone who wants an income stream from the proposed dividends.
So, the crux to me is does anyone know or seen in the past what CA think HUR is worth?
Add 6 to 16p to whatever the SP is at any given time, for possible tax credits benefits, and go from there. Everyone is just guessing at the moment.
"when can we expect the dividend payment?"
Eh? Q1 2023 as per the thread header. That's only if HUR doesn't get sold
and then there's the proposed 5p dividend in 23/24 and the proposed 1p in 2025 to keep them interested
FYI. I'm with ii. Any dividends on my investments get passed through to me and turn up straight in the 'transaction's' section which is in £'s. Any divis in Euro's or Dollar's get squirrelled away in 'Cash' under the appropriate currency until I convert them to £'s, they then appear in my 'transaction's.