Member Info for Gazelleman

Not the same scenario at IOG. Looks to me like the Bondholders have taken control of the finances, and IOG still owe big. HUR paid off the Bonds last July - in full - and then moved into Profit. The share was never suspended.

You may well be right, but surely the institutional investors hold the key on any vote. We as PIs are only a small fraction of the overall voting rights. We found this out when there was a vote on the M&P deal.

Cutting costs? G&A was 4.5M in that CFO slide pack & don't forget 2 new Execs in Malasia to add to costs...

Well that wasn’t very helpful at all. No mention of any dividend?

Me too. Tried to buy between 09:30 and 10:15 but it was in auction. However the good news for me is that I am back in profit for the first time in a couple of years. Highest I paid was £1.10 and lowest I paid was 19.6p. Ave is 30.6p. Happy days.

Ive been trying to add this morning as it approached 30. This has been in auction since 09:25 so I'm having no luck this today. Seems to be some consistent buying yesterday and today. Something is happening in the background as we move to month end.

The 0.27p was in the Scheme of Arrangement presentation followed by 1.21p in 24, 1.13p in 25 and 0.35p in 26 for Lancaster alone - total 8.98p. On a separate note the OVMK quarterly report Q2 is now on their website. Nothing at all in it about buying up HUR. All focused on THG lol...

Good point. If it being sold internally from one arm of the business to another, then the cost between subsidiary groups can be what ever the group decides. I guess this was what we were all fearful of. The principal, and the lack of transparency. We will just have to wait and see what transpires.

As a reply to myself the cash consideration has now appeared. One day early.

Just an update from ii for the board. My account today has received 2 dividend payments - the transaction dividend and the supplementary dividend, and I still wait for the cash consideration (the small one) & the DCUs. Interesting, because I assumed the delayed one would be the supplementary dividend as it was related to the April pick up, but had been confirmed as good by Maris.

Checking the Scheme of Arrangement its clear that they have until 31 December to get this over the line:

"If the Scheme does not become Effective on or before the Long Stop Date, it will lapse and the

Acquisition will not proceed unless the Company and M&P agree otherwise and, where necessary, the

Court has granted its consent".

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.