The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
So the TDPC want in on the deal in some shape or form? Not clear cut to me.
Thanks fandg2. Found them at the bottom of my portfolio with 100% loss. Same as you. Just didn't look properly and I was in a bit of shock to see my valuation drop by thousands of pounds.
Oh, ASI I have read all the RNSs and I am up to speed with the scheme. Unlike others on here who keep asking same questions.
Just logged into ii to see that the HUR shares I own have vanished with no reference to them whatsoever. No message about DCUs or cash settlement. Not very good comms.
That Friday RNS came out of the blue. I had hoped to have settlement by end June. Now it’s H2 2023 with the end date of 31 December as I recall. Two questions: surely we are owed our annual dividend, and if deal isn’t approved, the price will presumably drop back to where it was?
I also want to thank Senseman for all the work put in over the last few years and really fighting the corner for the PIs. Ive been in HUR since 2014 so its been a long journey for me post XEL & I really thought it would move back to something that would deliver shareholder returns. The court case, then the bondholder pay off, and the lack of comms during 2020 was shocking combined with the negative slant on the RNS's. Absolute shocking. I never made it to any of the face to face meetings at Burlington House. In the end I sliced my holding here but have kept 150,000 shares / DCUs to see what shakes out from PRAX. I couldn't just fold. Lets see when the dividends come through over the next few years.
All the best. In light of other opportunities, I am in Longboat Energy mainly as I trust the BOD far more than this lot. Nuff said...
"You do not pay tax on any dividend income that falls within your Personal Allowance (the amount of income you can earn each year without paying tax). You also get a dividend allowance each year. You only pay tax on any dividend income above the dividend allowance. (this is currently £1K).
You do not pay tax on dividends from shares in an ISA."
"The deal may give you +6.02p 14 days after the deal (£6002) - the near term cash offer - then (as I work it out and according to HUR slide show: 0.27p in 20323; 1.21p in 2024; 1.13p in 2025 and 0.35p in 2026 per share based on Lancaster performance alone (total 2.96p dividends)"
looking over my figures again I note that (6.02 + 0.27 + 1.21) to end of 2024 is 7.5p for lancaster alone production. So, without any additional PRAX revenue, the deal could be negatively spun that the value of the TO is only going to be equivalent to todays market value, by end 2024 (i.e 7.5p). I accept that the cash part is in our pockets, but this is the bit that looks to me like the main decision point for PIs. No real adjustment for brent oil prices - what happens if goes back to $100 barrel etc.
hey @broomtree - I'm in this morning with a buy - used some of my HUR derisk money. Lets see how this one goes. Everyone else, I'm new here...
Thanks for the sanity check here. I like what you say here. Take the cash settlement, invest elsewhere and take the bonus in the background to 2026.
I think this actually answers my own dilemma. Thanks.
You want a worked example: I just did one on a scrap piece of paper as it happens.
Selling now at 7.5p would give you £7500 (100k shares). You can then walk away and buy BP. or whatever you like.
The deal may give you +6.02p 14 days after the deal (£6002), and then as I work it out and according to last nights slide show: 0.27p in 23; 1.21p in 24; 1.13p in 25 and 0.35p per share based on Lancaster performance alone (total 2.96p dividends taking your investment to a 8.98p by end-2026 - so £8980 or 19% increase in 3.5 years however with the PRAX offer of an additional 17.5% if/when they do a takeover or M&A etc we are told that this could be as high as 12.5p in total which would be a total of 6.48p dividend by end-2026 which would be £12,500 back to you so you may get an additional £5k by 2026 which is 66% return on todays bid price.
What we don't have any clue about is Lancaster and Takeover deals that PRAX have. Simples!
For me, you can bail now and get 7.5p then go elsewhere until 2026. (Maybe I go over to GEM for a 20% DIV) for example.
If you stay you will get 6.02p within 14 days of the resolution, and 6-monthly dividends until 2026. We are unclear at this stage whether DCUs can be held in ISAs, or SIPPs because the BOD and PRAX forgot to consider PIs when stitching up the deal. For me its purely the tie-up because the DCUs will be non-tradable (or maybe they will - another loose end to try and get clarity on).
Yeah I clocked that but the RNS says 2.295p per share next week for final which is 12.75%. Might get some.
Not invested here, but I may do after reading a recommendation from a dutch investment fund Q1 report who has been buying up your stock - take a read for yourelf.
https://www.ovmk.nl/kwartaalver****en
Their Quarterly report for Q1 is now in English. Worth a read. No mention of HUR in this Quarter report, but they have tips on Gemfields with a 12% dividend, and another share. They are going for clear dividend yield investment. So, will be a Yes vote, no doubt. (might look over to GEM) ;-)
The recent up lift in the SP to 31.5p on the Ask suggests sooner rather than later. My guess is May/June 2023.
Very well done. Hats off to you guys for attending and organising the questions session. On the face of the video footage which I have watched once, Maris & Chaffe looked a little uncomfortable in the room, and the Prax bloke just looked plain uninterested, and unimpressive. If I was to invest in this company based on current BOD, then I would pass. (Have to say that is probs only video footage of a Maris I have seen in all last few years.
I am sitting on the fence with my investment here. I may decide to bail before the DCU thingy is formalised. Clearly introducing DCU 1 DCU 2 into the equation at this late stage appears to be last ditch attempt to appease PIs. Pretty confusing stuff, and clearly HUR cannot give advice which was a standard response. Oh how they are looking for the big pay day along with Stifel and Dentons.
The share price is going up today. I wonder why as they all look like sells this afternoon. Was pondering the fact that at 7.6p to sell is not too bad as a risk reduction exercise, because we are only going to get back 8.98p IF Lancaster only pays out, and we will need to sit tight until 2026. Part of me thought about de-risking and moving some elsewhere. Someone is buying off the book. RNS tomorrow will confirm.
YES - all their purchases have been recent - tracked by this Thread.
OVMK have now published their Q1 report but the bad news is that its in flemish. There isn't an English translation. I have skimmed it but cant see any reference to HUR specifically. There is a paragraph about O&G stock, and income, but that it all I can see. Doesn't help understand their policy here. Anyone read flemish?
Q 18:
Prax has stated it intends to retain the members of the management team. The Executive
Directors have agreed to stand down from the Board from the Effective Date and any new
roles in the organisation will be discussed then.