Member Info for machin

Hello senseman,

I would read with great interest anything you write pre or post Mar '27.

Wishing you fortitude and above all to keep yourself well.

🐸

* meant 12.5p in total

DiveCentre,

Sorry, missed your earlier correction of 17:05, my apologies.

Best,🐸

Hello DiveCentre,

With regards to the DCUs remaining I am pleased to be told that I was wrong. As there are further 4 to expect, then a slim hope that we may reach 12.p in total.

With regards to Oct. 23 DCU amount, my figure is correct, as mentioned in Prax's DCU Payment Statement of September 2023, as follows: -

"Net Revenue (USD) $43,903,875.95

GBP:USD exchange rate as at 00:00hrs 14/9/23 per HSBC 1.2492

Net Revenue (GBP) £35,145,593.94

Deferred Payment £6,150,478.94

Equal to 17.5% of Net Revenues (GBP)

Deferred Payment per DCU £0.00309"

Best, 🐸

Hello all,

senseman, hope you keep well and positive.

Many thanks DiveCentre for the DCU payment info,

Here are my records of the payments up to date, including the one at the end of this month: -

HUR Payments

21.06.23 5.1900 Div x2

22.06.23 0.8300 Prax consid.

04.10.23 0.3090 DCU 1

28.03.24 0.6170 DCU 2

01.10.24 0.7560 DCU 3

28.03.25 0.7420 DCU 4

09/10.25 tbc DCU 5

3.26 tbc DCU 6

To date 8.4440 p

Outstanding, maximum - 4.0560p

It is my understanding that, after this one, it would only be 2 DCUs remaining, 1 in Sep/Oct next and 1 in Mar 26. Have I this wrong?

Best,🐸

It might be market jitters over fear of Trump forcing pharmaceuticals to lower their prices and facilitating competition and/or generics.

If SP goes down to mid-October 24 level of 559p I shall top up again with 2/3K shares.

GLA

🐸

Maximillion69,

Sorry for the tardy reply.

You asked, I obliged:-

21st 15:34 200K at 1.068😊

Best,🐸

BB,

The 16th 300K at 09:28 were mine and I can assure you that my mind is quite sound, thank you very much - 1.08p suited me just fine!

-------------------------------

As for TB's "sale", could it be called that when the acquiring entity is mainly owned by the very same "seller" and/or his family?

GLA 🐸

Hello all,

AS Corryvreckan1 mentioned, it is” always good to see debate and both sides being considered”

Whether semantic is associated with or part of the BDO or not, as any other poster(s) for that matter, should be irrelevant to the discussion.

I started taking a position here in late March last, now standing at 2M shares – my latest 300K acquired on 18 June.

Although IQAI was on my radar for well over a year previously, I was partly encouraged to take the plunge by the disgruntled holders who are underwater and for one reason or another could/would not take advantage of the depressed SP.

In my view, there is a lot of bitterness in that and a perception of envy/jealousy from some quarters.

In all BBs there is someone considered as a bête noire, rightly so or not. However, one can glean quite a bit from such person.

Personally, I like reading semantic’s posts here as they make sense and offer some excellent optics away from the turbulence of a SP upon which no PI has any control, foul play or not.

GLA 🐸

Hello maximillion69,

Absolutely correct over the 300K 😉

Best, 🐸

It would not be the first time that a set time limit is not being kept; in itself it is disrespectful - in my view, if you are not dead certain, just keep quiet.

Meanwhile, I am witht komakino, I am not holding my breath.

GLA

Hi again,

I am the bearer of good tidings.

Upon starting to prepare my Capital Gain calculations I realised that I made substantial mistakes over the figures I mentioned in my previous post of yesterday.

I had arrived at the total by adding 5.19 + 0.0083 + 0.0039 + 0.00617; 5.19 being HUR ‘s 2 dividends in pence, 0.0083 PRAX’s consideration in GBP as where the 2 DCUs payments per unit. Also, the first DCU value should have been 0.00309 GBP - Some showing of basic mathematical skills indeed, EH?

The correct amount so far received is 5.19 + 0.83 + 0.309 + 0.617, for a total of 6.946 PENCE.

Therefore, leaving an amount of 5.554 to reach 12.5p/share.

As I said above a very substantial discrepancy from my initial erroneous figure of 7.29163 and for which I apologise.

However, even considering the correct amount settled to date, there is still quite a way to reach the maximum 12.5p; of course, not promised nor guaranteed, as per the preposterous terms of the acquisition but so lauded in some quarters!

GLA 🐸

Hello NMBS,

It is very likely that IWeb will repeat what they said to their clients via a Corporate Action Notification on 23 June 2023, namely (amongst other things): -

“As the New DCU's are not listed on any Recognised Exchange as defined by HMRC for ISA qualifying purposes. Your New DCU's will not be eligible to be held in an ISA. Should you have held your Hurricane shares within an ISA, we will shortly transfer your New DCU's to your Share Dealing Account. If you do not have a Share Dealing Account, we will arrange to open one for you.

Each New DCU may entitle holders to an additional payment of up to 6.48 pence. Please note, however, that there can be no certainty that such distributions will be made.”

Best, 🐸

Hello all,

After yesterday’s DCU settlement, 5.20837p received (of which 5.19 came from OUR money, I like to remind everyone), 7.29163 remains to come; quite a way to reach 12.5p !

Regardless if you are in profit or seriously under water this was a deal made from a very demonic place, even hell pales in comparison. Put simply we have been fleeced !

I am firmly with senseman on this, and really commiserate on his and others’ losses. I have been there a few times and know how it feels

As for the tax treatment of this hellish scheme I stand by my posts of 22 Mar 2024 14:05 under RE: March DCU Payment – key information and 22 Mar 2024 16:25 under RE: Tax treatment of DCU payments

In my view, nimrod99 post of 23 Mar 2024 18:53 under DCU (started on 23 Feb 2023): -

“As to receipts ending up in a trading account I shall regard them as a return of the capital that will reduce to zero in 2026 which I shall neither report or regard as taxable”

is misguided on several level.

Firstly, there could not be a return of capital as we no longer own the company.

Secondly, I am not saying it applies under PRAX DCUs, the tax treatment regarding returns of capital has been settled very recently by the Court of Appeal in Alex Beard (a Glencore former executive) – v – HMRC

Whereas Glencore did not pay dividends but instead implemented a return of capital twice yearly, HMRC position was upheld, namely that such payments should be treated as income, i.e., as dividends, as opposed to Capital Gain – meaning a tax of 33.75% or 39.35% depending of tax rate on income over £50,270/125,140, as oppose to a flat 20% (https://uk.news.yahoo.com/glencores-ex-head-oil-loses-131802249.html)

Enjoy all Easter 🐸

Hello Tier,

If an extension would bring a positive conclusion, I would also have no objection. However, in my view, if it had to happen it would have been done by now, hence my saying that we have waited long enough.

I hope that by saying so it would jinx the process and I will be proven wrong and Savannah will get Juba’s approval.

On a different note, I wish you a happy Easter break amongst those crazy French. Either they find Brits exotic and they love them or they just abhor them. Farm animals are the nicest amongst that lot 😉

Tout cela dit avec une pointe de sarcasme et ironie.

All the best, 🐸

A year on from - 'Deals are made here' !

All the excitement then and talks about AK being an important speaker at South Sudan Oil & Power Conference 14-16 June 2023, and from some quarters a sure indication, and expectation, of an approval by Juba for our acquisition of Petronas' interests therein, as a demonstration that they meant business and that indeed “deals are made there” - their conference slogan.

So far, that goes very well… or perhaps not at all !

If nothing happens shortly, would it not be the time to withdraw from the deal as gracefully as possible.

No one within SAVE would loose face and it would allow it to concentrate where we are welcome.

If South Soudan fails, I do not want to read RockyRide's post(s) oozing with unspoken disappointment as in the distant past in different circumstances, under another incarnation.

Disappointment(s) I incidentally shared. Believe me he and us all deserve better.

Regardless, 89p is going to be and even more as per Zengas’ superb analyses. But the sure way to know is to resume trading.

All in my view.

GLA

🐸

Nolupus,

Contrarianism is good. I am a firm adept.

It has served me well with GLEN in 2015 and superbly with INDV in 2018 and MRO in 2020/22. For balance, IRV in 2018 is best forgotten, that was very painful!

May the luck continue here with IMM.

Best,

🐸

Ouch!

Well, we will have to change the way we declare our “returns of capital” then.

Personally, I could have done without this this year as HUR acquisition by PRAX was mainly settled via dividend payments. No 8.75% for me I am afraid, but 33.75%, if lucky, on an extra 5K, bvgg€r!

Till now I relied on DEC for best income but that has dramatically changed recently, as TerryM1 would know. I still have PHNX and MNG amongst the most generous.

However, I am happy to remain invested here. I even increased my holding when the SP went below 400.

GLA

🐸

Hello Nolupus,

I like to read your posts, especially the (numerous) dissenting ones of years past, and current, as they make me pause and think.

It appears to me that you and Tim are enjoying a better time on this BB.

All the best,

🐸

Hello dallo,

6p is on the horizon, a precursory pre-dawn faint glimmer is awaiting.

All the best,

🐸