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Chessgambiteer - according to HarryTheCat, the only irrevocable undertaking are those of the board of directors which currently amounts to less than 5k shares (see thread RNS). Should an offer appear that is >6.5% above the current one then the "irrevocably commited" shareholders can quite legally commit to the newer one.

Thanks HarryTheCat for filling in some if the many gaps in my knowledge of takeovers!

...sorry I meant status quo before 2/7!

....or is it the case that the board is forcing the hand of any other potential bidders. By doing nothing, the bumbling status quo prior to 2/6 would have carried on with no certainty of a bid. No pressure on the potential bidders. Now there is pressure!

What I don't know is, what happens say if another bidder comes along at £4+, what does the board do having "irrevocably committed" to the ~£3.57 offer! Surely by not backing the higher offer, they are not acting in the best interests of the shareholders!?

Didn't the RNS say that the secondary placing had been completed? - ie institutional investors have already snapped them up?

I wonder if this was behind todays dismal performance......

OSLO, May 12 (Reuters) - ​Norway's ⁠Hammerfest LNG export terminal ​is undergoing repairs for a ​mechanical ‌fault in a valve that halted ⁠production last week, a ⁠spokesperson for ​operator Equinor said on Tuesday.

Europe's largest export terminal for liquefied natural ​gas (LNG), ‌with a daily capacity of 18.4 million cubic metres of gas, shut down ​late on Friday and is ‌due to restart at 1800 GMT on Wednesday, ‌the company has previously said.

The facility, also known as Melkoeya ​LNG, accounts for roughly 5% of all ‌Norwegian gas exports.

The plant at Melkoeya island receives gas from ⁠the ⁠Snoehvit field in the ‌Barents Sea, some 143 km (89 miles) ​offshore. ​Its owners are Equinor, ‌Petoro, TotalEnergies, Vaar Energi and Harbour Energy. (Reporting by Nora Buli, editing by Terje Solsvik)

....will they need to wait for a reform government? Gov revenues will fall when the oil shock hits. There will be nowhere for the gov to raise revenues without killing the economy further or applying a hugely significant & unpopular (well ...for those in gov at least) welfare spending cut.

At some point the gov will be forced to face economic reality - as defined by the bond markets and not by left wing dogma. What are they going to do??

You mean one announced 23/01/25:

https://www.lse.co.uk/rns/CNE/senegal-update-aphmgklfvj250o6.html

I like many others have been disappointed with the markets reaction to what I believe was a very positive trading update.

The only comfort I am drawing from this situation is the fact that HBR can now approach BASF (and other institutional shareholders) to buy back their shares at a discount to true value using the remaining part of the 45% of FCF allocated to shareholder returns that is not paid out in dividends. This will have the effect of turbo charging gains later on when the shares become fully valued..

Q2 cash generation is going to be huge and therefore the share buyback could be substantial and swift. That coupled with a significant reduction in overall debt could provide a tsunami of pressure for a rerating when the half year trading update is released.

MiHK cuts Berenberg competence target to idiots (misguided) - 'ignore'

Berenberg cuts Harbour Energy price target to 245 (255) pence - 'hold'

It means they got their hedging bets were wrong for oil and just about OK for gas. Hope they don't screw up the same way in Q2.

Arrrrgh - lesson learnt. Do not rely on AI search summaries!

Reading the actual prospectus from the SYNT website reveals a 6 for 1 rights issue - the 1 being the post 1 for 20 consolidation. So if the £40 original chart derived share price is the post consolidation value (which I suspect it is) then the post diluted equivalent is £6.66.

"FFS enough of the £40. Go and look at it AFTER dilution and its single digits"

F1Driver - are you referring to the Oct 2023 6 for 20 rights issue (which followed the 1 for 20 consolidation)?

If so, this was only a 30% dilution.

Updated guidance for production is 475k-500k boepd. Jan/Feb averaged 500k+

Dept reduction comes out of the 55% of FCF not allocated to shareholder distribution.

The choice comes down to increasing the dividend from the 'base dividend' as you mention or buying back more shares from our institutional shareholders.

My view is that adding a special dividend will grab the markets attention which quite frankly has been poor - the BOD has given a mathematical equation to calculate FCF and nobody is doing the maths because everyone is obsessed with AI/SpaceX or more generally overall profits.

Https://www.msn.com/en-gb/money/video/why-oil-markets-won-t-recover-quickly-from-the-iran-war/vi-AA21cxSR?ocid=msedgntp&pc=DCTS&cvid=69e4b7b974b948cda36140b970a8eca8&ei=51

Draw your own conclusions.

More info - is Harbour positioning to go back into the North Sea? Would need confirmation from UK Gov that EPL is going to be abolished and Mad Ed put on a short leash.

https://www.offshore-energy.biz/dolphin-drilling-lines-up-new-gig-to-keep-its-rig-busy-until-august-2030/

Unfortunately the article is behind a paywall

UK North Sea operator making moves to secure rig requirements | Upstream https://share.google/15SKFVeJsSDDOmdXx

Anyone know anything more about this?

If the dividend is 6p per share, then all things being equal, the shares price will be 6p lower when it goes ex-dividend.