Member Info for NAV_Mike

Well theres around 52.m of the shares allocated to LLOG not subject to lockin , so I guess they wanted their money fast. Disappointing they wanted out fast, but I guess thats why they werent all locked in

Secondary placing I take it? Do you know who?

There will undoubtedly be something behind the scenes that we dont know about yet...

Favourites so far are either a sell rec, or another bookbuildin exercise

Either way, only HNR performs like this with oil at $101.60 lol

WTF??

Perhaps our friends at GS are at it again? Often the way with a mysterious drop :(

Very true but HBR can only RNS once the notification is received. Its probably the EIG offshoot that is to blame here for being tardy

Where were you seeing 13.95 mate?

AJ Bells started at 14.86 and gradually moved to 14.9551. Or are you only talking quotes for bazillions like you hold? :)

Https://www.telegraph.co.uk/business/2026/03/14/trump-plots-disaster-move-into-oil-trading

"The Trump administration is considering intervening in oil markets to push down prices, despite warnings that it would risk a “biblical disaster”.

Doug Burgum, the US interior secretary, said officials had discussed trading in the so-called futures markets"

My god....can you imagine America's enemies conspiring to give it the biggest margin call in history lol

Good night was it CraigJD? lol

@pcs

Tbh I think its more the case that warrant and option pricing is difficult to explain to your 'average joe' as its all so damn theoretical. I rarely come across it in my day job, and when i do, it tends to make my brain melt lol

I think we agree but via two different different routes :)

Yes the balance sheet will strengthen , but only by the reduction of theoretical liabilities, not an injection of physical funds. Of course this isnt true if some are exercised ofc..

NSS

Agreed....you are ever the gentleman :) Have a good weekend mate

@pcss Erm nope dont agree re the warrants

There is a Balance Sheet liability shown, which will gradually unwind as the warrants come closer to expiry. Actual pricing of this liability depends on warramt life remaining and issue price against current share price. Impossible to see how thave done it without seeing a full note from the full year accounts

TM was correct in his statement that it was very much an accounting exercise. Cash will only flow in if any of the warrants are actuallly exercised

NSS

Gotta say I dont agree.....the placing was done by a very fast accelerated book build, and we dont know how many instis Barclays were in contact with. This wasnt a case of something like a rights issue, where a full prospectus is sent out and they wait for the end result. This was done very much on the QT

For all we know EIG might have a set a minimum they were happy with as long as they got a quick payout.....we will never know.

I certainly dont think you can deduce there was little appetite for the shares. Instis will always want a discount to make it worth their while, and just maybe GLG Partners took a chunk (they have now reduced their short below the reporting threshold) to help them close out

Yes its disappointing we had to absorb the effects of the placing, but to finish a tiny bit up on the week after all that is very encouraging imho

DP64. You are really becoming a toxic piece of work. Id love to know who is pulling your strings, however judging by your incessant fawning, Id guess its linked to your beloved HNWIs

Well we closed last week at 288.60 so hopefully given whats happening, we might actually acheive a rise on the week!

Absolutely not at the levels we should be, but if we can recover from that horrible placing inside a week, I will actually be very pleased

Well my ba lls most certainly werent bored off by that - a night and day improvement over the last one. Maybe theyve been taking PR lessons :)

Jus one thing.....you can see by the stream of buys that people liked what they heard, but the price wont budge! You just know that if they had been sells we would be moving lower. What gives?

Can we agree in advance that the presntation will likely bore our ba lls off, but this is not the end of the world and not a reason for endless hours of moaning and deramping

Better minds than mine will be able to sift through the droning and hopefully note down some new positives (and yes maybe negatives).

Please can we all keep an open mind and refrain from using that damn word "trio" in every moan-post lol

Jeez wept Cobalt, up your medication or summat. This endless depression is getting tedious in the extreme

If management started cra pping out gold bars youd still find a reason to moan!

Cant be right surely.....no mention of the placing? :)

Seriously though, nothing really in there we didnt know, but no adverse changes to the story and they continue to state cash reserves are sufficient for this stage of development

There is the possibilty that the 60m shares were placed in order to provide some liquidity in the market. As someone pointed out earlier, a massive chunk of HBRs shares are held by just 6 or so legacy holders. Any new insti wanting to build a stake might have to wait a while, and risks pushing the price they pay higher and higher

Yes, more likely that EIG jut wanted a wadge of cash, however there could be other reasons. Lets not forget that although 255p was disappointing, you could only have recently got that price since the end of February....and highly unlikely on 60m shares. Looking the other way timewise, they had no chance of getting 255p unless you go back to January 2025 or earlier