Member Info for nidgeyr

From CRS September RNS -

The Fund expects to provide an update shortly on additional shareholder returns based on the Investment Manager's and the Board's assessment of the status and timing of anticipated corporate transactions.

The Fund notes that Hurricane Energy plc ("Hurricane") has reported that at 31 July 2022, it held net cash of $89 million. At current exchange rates, this is equivalent to £82 million. Crystal Amber holds 28.9 per cent of Hurricane's issued share capital.

Is there a message buried in this?

Agreed I'm in

indeed they are !

tomorrow is Saturday

Approaching CA's average cost per share ... again....

Not at all Silverlight :))

MEM previous posts say it all really -

middleEastMoney
RE: Volumes16 Aug 2022 19:06
Totally agree, this is being driven by big money, I fully expect to breach 30p very soon.

Huge buys outweighing sells, follow the money

middleEastMoney

Posted in: REVB

Posts: 3,891

Price: 20.00

No Opinion

RE: What happen?16 Aug 2022 12:42
Hi HH, difficult to sit on one’s hands and not take a profit !

However REVB is VERY STRONG at this price, with the recent SP of 65-70p only a few weeks ago and over a 100p a few months ago, I am in no hurry to sell up, I have decided to wait for the results in 2 weeks time.

My reasoning is fairly simple, the newly appointed CFO knew exactly what they were getting in to when they joined, this is a ‘technical c0ckup’ of Accountancy rules rather than a meltdown.

I am confident we will see 90p this year, I fully expect the BOD to display massive confidence and start buying shares, once we are out of the closed period.

Final point, follow the money, huge repeated buys, many tens of millions of shares, that is a massive endorsement for me, some other entities have done their own DD, great opportunity under 50p

The price is increasing too much ...think they should issue another reminding us of the situation with the accounts...

Appears to be in auction already?

Drop the bid, trigger remaining stops, go into auction, BOO mop up

July RNS ...

Antony Maris, CEO of Hurricane, commented:

"With another steady month of production, we now look beyond repayment of the bonds with a strong cash position and balance sheet. We believe that there are good investment opportunities ahead and the Company is well placed to deliver significant shareholder value."

BUT WHEN!!!!????

Schlemiel and the current price action - those bots are working their socks off

News incoming.....

From website -
"In July 2017, Hurricane issued US$230,000,000 in 7.5% convertible bonds due 2022 (“Convertible Bond”). The Convertible Bond was issued at par and carries a coupon of 7.5%, payable quarterly in arrears. The Convertible Bond is convertible into fully paid Ordinary Shares with the initial conversion price set at $0.52, representing a 25% premium above the placing price of the concurrent equity placement, being £0.32 (converted into US dollars at USD/GBP 1.30). Unless previously converted, redeemed or purchased and cancelled, the Convertible Bond will be redeemed at par on 24 July 2022. The Convertible Bond was admitted to the Official List of International Stock Exchange in September 2017"

There is nothing about being before or after this date therefore as 24th is on a Sunday it would seem realistic that repayment will be made today.

Pete if there was a facepalm emoji on here I would use that to your comment

Thanks Cebo at least I like many on here are showing commitment unlike the company (so far ... our BOD)
But as I predicted that will change over the next few days

24th is a Sunday so I suspect not ! Therefore bonds will need to paid off by Friday this week
Knowing our lacklustre BOD it will be Monday before any RNS

PS I am now IN!!

Reminder.... from my previous post
Obvious and if I may so blatant manipulation IMHO to try and rinse out the stops / weak holders? Will wait a bit longer as this has got more to go before I jump in. Prediction for Monday ...... drop the price (again) perhaps even lower than today to take out any other stops remaining before the final push up... of course we do have the update to look forward to on Monday or maybe Tuesday but reflecting on previous "updates" the price goes the opposite way to that expected. Not long now LTH's util the bondholders are paid off Maris and maybe Chaffe get some skin in the game and we can increase from what is an absurdly low price compared to mcap.

Appears we are now in a holding position waiting for the announcement either on Friday or more likely Monday that the BH have been paid off.....

Its a typical no frills RNS from Maris - what do you expect - the man has zero personality !