Member Info for Globex

If deal goes through recommend paying particular attention to the cut they take through their fund management fees, ie will it still be worth paying ~2% of NAV for this?

Related to that worth scrutinizing the validity of their post-deal quoted NAV when it comes. By that time the vast majority of the fund will be in non-public instruments. For example how are they valuing the speculative biotech GI Dynamics? Also worth noting currently they can't place a NAV value of Hurricane any more than the market cap whereas if/when deal closes they will have room for more 'interpretation' and charge fees accordingly.

My opinion is the market doesn't like this deal and therefore if we get a no vote the share price will increase. Others will have a different view but here's my rationale:
-When the deal was announced Brent was sub 80p, now it's up but not being reflected in the share price because deal places a hard cap on future yield.
-If we get a no, heads will have to roll. Yes that would create near term uncertainty but fresh management can only be a positive current lot have just eroded value.
-Market doesn't trust Prax DCUs otherwise they'd be reflected in today's SP, I agree with the market as they're highly contingent and payable over 3 years.
-Once this delists it will be highly illiquid and difficult/impossible to trade, imo it would be barmy to opt for illiquid instruments in place our current tradable AIM shares, which also have no uncertainty around ISA/SIPP eligibility.
-The share price went down when the deal was announced, which implies the inverse is true.

For anyone who believes that the Hurricane deal will go through, that the deferred consideration will be paid by Prax and is willing to wait the 3 years for payment in full, it begs the question why wouldn't you just invest into Hurricane rather than via this fund. That way you get the capital return entitlement in full directly on your own terms. Each to their own but without Hurricane the remainder here is struggling.

Are you going to create a new thread with every time it moves 1p? That's 8 posts you've made now this morning all meaningless. Sort it out man.

Bit naughty to be quoting these Hurricane figures without the qualifications that deferred consideration is highly contingent and extended payment period runs to 2026. Deal hasn't even been voted for yet. Anyway those numbers were already out there for anyone speculating with a calculator. As for protecting value of their De La Rue holding, judging by today's results that ship may have sailed.

For the costs of this process, buried deep within the Scheme document we're told that Hurricane acquisition costs are £3.24 million. Whole FSP including leading up to that will no doubt be more, but let's imagine for a moment they'd not bothered with this process - even that alone would be enough to pay a dividend of 2%!

Whole process is just eroding value, madness.

When logged in take a look here https://online.hl.co.uk/my-accounts/investor-mailbox - it should appear in the list amongst shareholder meetings.

Striking how speedy the timetable is now. Voting concludes 28th April at 1:59 p.m, so 3 weeks from today. D-Day (AGM) follows on 4th May.

The thing that makes this particularly shameless is the false promises being related to healthcare. It was covid first, then the sepsis test etc. There are tons of aim stocks on the blag, but here we're talking real diseases people die from which makes it much worse when investors have been mislead.

NNN is same story. The Prof was just like Cave, used to give an acceptable face to the ruse. I'm sure BRH are probably just biding time now until some other big disease becomes the story, then if necessary they'll probably rustle up some other scientist with another magic box that will cure it. These grifters are as old as time.

Luckily people see through it now, hard to see them pulling it off again.

AGM vote has landed so if you're holding shares you have specific option to vote against his re-appointment, check with your broker.

It's not a great look culling jobs while retaining dividend, in terms of staff morale. Would much rather they preserve cash when free cash flow generation so low and while they're on a tightening mission. Then resume payouts if/when times less lean. So I've voted against divi but I'm sure I'll be pretty much only one!

Pretty hopeless activist with shareholding of just 0.51% in THG but trying to make demands of it. Buybacks a ridiculous suggestion when the company is not even generating free cash flow. Blaggers nothing new to lse but mystery such a tiny enterprise is getting so much publicity, PR strings must have been pulled.

HL have this ready now too, voted no with pleasure to both options. Roll on result, less than a month to go!

There should be repercussions for the directors here. Too many of these snake oil companies made all sorts of promises during pandemic boom profiting from the back of naive investors. This might be worst of all, the entire thing is a facade. Total pseudoscience, they never had a product or any hope of generating revenue.

Cave's bigger boat turned out to be more of a damp squib after all. Maybe they should have diversified into nautical pursuits, that seemed to be more his area? Could have renamed from NNN to BBB, bigger boat business.

Wonder which aim sh*tstock will be next to fall over? My money's on SYME or QBT

Those big sells before this news were literally criminal, we have specific laws against insider trading, but as per nobody will ever be prosecuted by the sleepy FCA.

Great John Street Hotel is a shocker even by MM standards, haemorrhaging millions, Grade II listed multi year refurb, still not open.

Yes they're now a bit past their prime and like the boy who cried wolf all these GM requisitions that never seem to amount to anything have started to stretch their credibility. With them approving this deal, they're a lost cause imo.

Which is why I reckon it's smaller shareholders that are much more interesting now in an attempt to agitate against this woeful deal/board. Collectively we start to add up.

Checking Refinitiv data (as at 1st Feb) 10.74% of HUR shares are held with HL. No data on other brokers but as that's mainly going to be PIs, a surprisingly big chunk. Doesn't take a big leap to imagine that smaller shareholders hold more than enough sway to hold deciding vote.

Agreed it has appearance of now being desperate, sadly for CA they are heavily underwater on DLAR and are now on a face saving exercise to try and salvage something and arguably deflect blame for their own mistake to double down into a company facing structural decline, regardless of management. We've covered a bit on DLAR board about that. The main takeaway as far as this board is concerned is that this latest action at De La Rue is not relevant to Hurricane.

Don't worry it's a given that key players will be very exposed in the event of a no vote.

Some corrections needed: Brue Failing is still at Allied Minds. In the event CA pulled the ALM requisition notice before any EGM was held. Certainly no DCUs at Allied Minds either.