Member Info for K3VMC

asimpleinvestor

“ You're quite correct, after the vote by shareholders if it wins and the acquisition goes ahead the acquisition has to be signed off by the court to make the transfer of ownership legal. It’s K3vmc who is 'confused'.”

Please explain why this deal would have to be ratified by a court.

Kever

“ 12.5p by Prax was the very best option after the FSP.”

Allegedly. I would prefer a cash offer of 12p to the potential bag of inferred worms in the Prax deal. This was the dear preferred by the bod, but as you will have read from your short time on this board, there is a certain level of distrust of the bod.

“Nobody else would offer anything like this. How can you say it is being sold on the cheap ?”

Let’s see what happens. I I won’t be voting this deal through and you have no idea what other concert parties might be planning. Not that I know either. :-)

As for fair value, I would accept 60% of (cash at end of April + accumulated tax losses).

About 15-16p, in cash. None of this jiggery pokery, let’s see how we get on over the next few years and drag out the deal.

Kever

“ Get a copty of the Stifel research note from MAY 2022.

Stifel are being paid. I fully expect them to say whatever the bod pays them to say.

“tax credits are very complex.”

No. Tax credits anre not complex. They get the credits for nothing and they reduce their tax using them. Do I know which boxes to fill in on their tax return? Clearly not. That doesn’t make it complex.

“All the info is it that article.”

Great. I won’t be reading that.

Nice of you to sign up specially to educate the masses on how the bod isn’t screwing us over and selling us out on the cheap.

John, the scheme of arrangement was just so the bod could liberate some cash which they pretended they would return to shareholders. This is just a straightforward attempt to sell the company on the cheap.

I can’t imagine why the bid would sell it cheaply, but since they have very little skin in the game, maybe there is something else in it for them?

Perhaps there is a tacit agreement to keep them on with an increased remuneration package?

This is just an opening gambit, to soften up shareholders. They think we will be relieved to get a higher offer and jump at it. Not I.

But to answer your question, I didn’t ask them that.

Johns

“ Thanks for reply K3vmc, can I just check you have asked Hur the question of which court will the deal be put in front of ?”

The deal gets voted on. Most votes wins. Why would anyone go to court?

Can some kind person remind me what our stake in Pluto Digital is?

Now Emergent Entertainment.

I emailed them and got an automatic reply. They will answer my email within 10 working days, unless it’s a complicated question. That may take longer to answer.

I’m not sure “communications” is an appropriate term.

fandg2

“ Out of interest, have/do Kerogen and CA actually have to vote? Can they just abstain?”

They already voted to accept this deal, but also any better deal that comes along.

There may be investors out there who don’t understand what a rip-off this bod is setting up. As time passes, they should see that more clearly. I won’t vote in favour of any Prax deal.

From the offer that this bunch of directors recommended.

“ In an orderly wind down of the business, assuming a flat oil price of US$80/bbl, the Directors expect that accrued tax losses with an approximate value of up to US$370 million will remain unutilised and thus will not provide any benefit to Hurricane Shareholders.”

So Prax gets DOUBLE the current sp, JUST in tax allowance, which makes a complete nonsense of this bid. Let’s not forget the unrestricted cash balance. After the April lifting of yet another approx £45m, that will be equal to ANOTHER 1x the share price.

Prax had better set out their improved offer very soon.

£28k buy reported late.

Someone liked the article.

Price being walked down, so I may add later.

Those sales of 5m and 1.5m at 1.76p this morning must be hurting. Well, it would hurt me, missing out on an extra £5k and £1.5k profit.

Well done ANGS holders, generally. Gas price up 14% today, production almost doubling and all of the extra gas being sold at unhedged prices.

Sp has more to offer, IMHO.

Troajan

"chunky trades kev.
blue ones"

4.2p average. I'm overdue a big result. :-))

And it’s still less than 80% of the bond price.

So much more to give.

When they were 2.7p!!

“ The share price tells us all we need to know. Warrants are clearly being exercised and the shares sold in to any buying in the market.”

Rubbish. Why would anyone exercise a warrant at 1.65p, when the bid has been nowhere near 1.65p?

If you can’t understand why, you should stick to premium bonds.

15p. Very achievable in 2024.

Had to happen Troajan. I thought my buys at 6-8p were great until it went sub 3p.

50dma smashed. Island bear trap reversal. RSI 35->55. Price target 15p.

:-))