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Kever,
I wish you well too. My average is much, much lower and I still think it is a lousy scheme and a con. The way the BOD went about it is beyond the pale; dishonourable really, the lot of them. 🐸
Hi Cantilupe,
You have all my sympathy and I hope you will be alright. Bitter pill to swallow, I know, been there, done that etc. May the GAOTU look very well after you too. Best wishes, 🐸
SHUT THAT DOOR!!!
The masters of timing,
Remember 2021, had the Ad Hoc Committee of Bondholders' scheme succeeded, the date of voting for the removal of 5 directors would have happened after the sanctioning date, when said AHCB would have then own 95% of voting rights thus, very likely, assuring their survival.
It really makes me sad that anyone could support this lot by having agreed to such a horrendous scheme. GLA , 🐸
Hi Andy144, Today 20:09
“So I agree that a free cash share buyback period would help the SP as it really does directly save a heep of money”
In what way?
“DEC have a slight problem. They have just raised capital at £1.05 and had a 20% fall”
And they are far from being alone, it happens time and again - I give you 2 examples, amongst many, many more: -
1. Tecan (0QLN)– 03/09/21 CHF 550, today/s SP 348.80
2. Petrofac (PFC) – 08/11/21 GBP 1.15, today’s SP 0.707
I am simply not convinced by the argument, but I might be entirely wrong, Best,🐸
Hi Trek,
Although it is nice to have glowing comments from Malcy, I am very ambivalent as far as he is concerned. We never know when and if he is being paid for any given post.
Having said that I agree with what he says. Best, 🐸
Hi LOTM-13,
My understanding is that shares bought back are either cancelled or held in treasury. If the latter, they have no voting rights and are not entitled to dividend distribution.
In general, I am against share buy backs because very often bonuses to BOD are based on earnings per share, therefore, the less of them the larger the reward. I would much prefer an increased dividend and decide for myself if I want to increase my holding from the settlement or not. Also, very seldom have buy backs an impact on the SP; in that respect financials and Market sentiment/manipulation have a much greater impact. In any event, repayment of debt(s) should the prime priority of any company , and the same goes for individuals, all in my view. Best, 🐸
NMBS, that is my understanding too.
Was it not to do with revenue from the last lifting which might not have been in place for distribution before the scheme being operational? Best, 🐸
All explained here: -
"HURRICANE ENERGY - Important Information
Acquisition by Prax Exploration and Production (Prax).
0.83 pence and 1 Unlisted Deferred Consideration Unit (DCU) for each Hurricane Energy (Hurricane) Ordinary share held.
Under the terms of the Acquisition, shareholders will also receive the following additional Dividends payments:
A Transaction Dividend of 3.32 pence per share.
and
A Supplementary Special Dividend of up to 1.87 pence per share.
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. An additional cash payment maybe paid by Prax, equal to the amount of the Supplementary Special Dividend, should Hurricane not pay the Dividend prior to the Scheme becoming effective."🐸
For what it is worth, here we go, 1M100K - the 100K added on 24 May 23.
However, I do not see the point of declaring the size of holding(s). I could have plucked the above figure from thin air, which I have not.
But, for the sake of completeness, at last closing price of 3.55p, I am 31% down. Lowest price paid 3.98p 24-05-23, highest 6.57 26-04-22. ;-) 🐸
Andy144,
It looks to me that you are seeking answers to validate one of your perspective(s). There is one bound to do that, another offering a different outlook, but neither will choose for you; that is your call. The best one can do is to carry due diligence, read analysis and opinions as on this BB, separating, here, as best as possible true exchanges of viewpoint(s) from ramping or otherwise etc. That is on side, the other, is how to handle movements in SP, especially a downward trend. Again, from RNSs, company financial projections etc., one has to decide if it is due to Market jitters or if it is warranted – concerning jitters, being a contrarian investor, my outlook tends to be optimistic. Personally, I ignore all the talks of MMs and shorters doing this or that and graphs indicating one thing or another, for the simple reason that I am presented with a specific SP over which I have no control. Then, in a circumnavigational way we come back to the same dilemma; add (if feasible, money wise), sit tight or decamp. Best, 🐸
Kever, naughty child, "What relevance is 12th June ? "
My birthday perhaps? 🐸
Andy144, I really do not follow the logic. With a simplistic approach, once a position is taken, assuming after due diligence, one has to live with the vagaries of the Market. Yesterday I bought some at 89.6p and today they closed at 85.75p, so what? I was happy to buy yesterday with what I know about DEC and I am still happy with my purchase today; of course, I would have preferred to better time the Market, but when the SP will be above 90p I will be even happier. My point is that, under normal circumstances, the only SP relevance is when there is a want/need to monetize the holding. Otherwise, what is the point in investing in shares? Now, a day trader would see it differently ;-)Best, 🐸
Broomtree, have faith! It is going to be "gloriously right"... eventually.
The SP downward trend seems to follow the same pattern as in March XD, which plateaued then some 10 days after. Yesterday, I said I would wait before adding but gave in to temptation in the afternoon – no discipline!
🤍 from your wee 🐸
Suddenly in this RNS, with the following comments, all past negativity vanished: -
“Excellent operational uptime of 97% “
“outstanding operational performance”
“2022 has been both very challenging and a highly successful year”
“we delivered superb uptime performance and produced towards the upper end of our annual production guidance”
Suddenly the t.w.a.t becomes a gusher
But hang on there is more - “The delivery of a technically skilled and commercially efficient, debt-free Company enhanced our industry reputation and attracted outside investor interest.”
The following was redacted, too sensitive: -
and that, you idiots, is the reason for giving your company away, but please do not thank us as it was our greatest pleasure to do so…and please do not forget to tune in from time to time in the future to watch PRAX reaping all the rewards. Ripping job!
Be still children, there is more – “All this is a great credit to the team's ability and commitment which, given the challenges of the last few years in particular, have delivered full value and a great return for Shareholders."
“a great return for Shareholders” here you have it, HE has spoken!
Hi Trek,
Many thanks for your SAVE input, much appreciated. I am still holding 34% of my ISA (shows my faith), 13% elsewhere. Very dramatic stock; successful and profitable (Nigeria), big expectations (Niger), disappointments (Chad - nationalisation), ICC arbitration (SAVE v Chad), diplomatic incidents (Chad v Cameroun), about to finalise a huge deal (South Sudan) and many other rumoured things; not a boring stock that is for sure. It should come out of suspension sometime next month. Incidentally, on this platform, SAVE BB is one of the best with outstanding contributions that keep us sane from a whirlwind AK. Best 🐸