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I've just had an email from Dividend Max (you can add your holdings on there and they send a message when a dividend has been announced).
Basically the email says Company - Hurricane Energy - (HUR)
Amount 5.19p
Dividend Type - Special
Ex- Dividend Date - Thursday June 08 2023
Pay Date Thursday June 22 2023
and then the amount of shares I have plus the dividend amount.
Very Bizarre
Each Right entitles the holder to subscribe for 1 New Tui DI share at a price of EUR5.55 (GBP4.01 indicative) per New DI share.
You Have The Following Options:
1 Accept the Offer to buy 384 TUI AG ORD REG SHS NPV DI shares at a cost of 1,539.84 GBP (equal to £4.01 a share)
We will process your instruction on or after 11 April 2023 23:59. Please ensure funds to take up your Entitlement are available as detailed in the 'How Will Payment be Made?' section.
If you do not have sufficient cleared funds to take up all of the specified number of shares then we will take up the maximum number of shares we can based on the funds available.
2 Accept the Offer to buy a specified number of TUI AG ORD REG SHS NPV DI shares.
We will process your instruction on or after 11 April 2023 23:59. Please ensure funds to take up your Entitlement are available as detailed in the 'How Will Payment be Made?' section.
@ selecta6
Thank you for all your advice, much appreciated, I have done exactly that and sold some of my rights to pay for the remaining options. Not sure whether the Broker should have charged me £9.50 commission on the sale of the rights I sold? Any thoughts on that would be appreciated. Thanks
If I was to sell a portion of my rights through Halifax at .87 pence would I get the funds paid in to my account almost immediately? Or would I have to wait for the proceeds after the close date of midnight on the 20th October?
I'm asking as I want to purchase some of the TUI AG ORD REG SHS NPV DI shares at £1.83 using the proceeds from the sale of some of my rights at .87 pence
The above makes sense to me, hopefully it will make sense to everyone reading my post.
Thanks for any answers in advance :-)
This is the part that has confused me below is my ISA and below that is my share dealing account.
Both are showing in my account as having a value and neither as NIL cost
TUI AG DI EACH REPR 1 PREEMPT RT (TUIB)
541 74.1867p £401.35 *87.00p £470.67 £69.32 17.27%
TUI AG DI EACH REPR 1 PREEMPT RT (TUIB)
218 72.789p £158.68 *87.00p £189.66 £30.98 19.52%
Do any of you have any idea how to sell my entitlement through Halifax Share dealing Service, My ISA contributions are at the limit and I could only exercise my rights on 39 shares (only had enough cash in the ISA for 39 shares) and have more I want to offer on the open market? Thanks in advance
Hurricane Energy, the oil and gas producer once considered a bright hope for the UK North Sea, has failed to push through a controversial financial restructuring that would have virtually wiped out its shareholders.
The UK’s High Court ruled on Monday it would not sanction the plan, which would have handed control to Hurricane’s bondholders in exchange for forgiving $50m of debt and extending the maturity date on a further $180m of bonds due to be repaid in July next year.
The plan had been extremely unpopular with shareholders, including activist fund Crystal Amber, Hurricane’s second-largest investor with a stake of more than 11 per cent.
However, management led by chief executive Antony Maris had argued it was a “necessary step” to secure Hurricane’s future following production disappointments, warning it would not be in a position to repay its $230m of bonds next year.
The Aim-listed company had hoped to open a new frontier in UK waters by producing oil from “fractured basement” rock formations — naturally occurring fissures in the granite that lies below the softer sandstone from which most other North Sea hydrocarbons are extracted.
However, Hurricane admitted last year that it was unable to sustain intended production rates from its flagship Lancaster field west of the Shetland Islands and parted ways with its founder and former chief executive Robert Trice.
A hearing on the proposed restructuring, which would have left shareholders with just 5 per cent of the company’s equity, was held at the High Court last week.
In a lengthy judgment handed down on Monday, Mr Justice Zacaroli said “despite the fact that there is projected to be a shortfall between available cash and the sum required to redeem the bonds at maturity”, there was a “reasonable possibility?.?.?. it could be bridged”.
He added there was “no other sufficient ground of urgency” for the bonds to be restructured now.
Hurricane said it was “considering all options, including an appeal”, and warned that bondholders had “certain rights under the terms of the convertible bonds that, if enforced, could result in an acceleration of the convertible bonds and ultimately an insolvent liquidation of the company”.
Crystal Amber has proposed to remove Hurricane Energy’s chair and non-executive directors and replace them with two of its own candidates at an extraordinary general meeting on July 5, although several directors are already up for re-election at the company’s annual meeting on Wednesday.
Hurricane said: “It is the company’s understanding that, in the event all of the executive directors are removed from the board, the company’s nominated adviser is likely to resign with immediate effect.”
It said this was likely to result in its shares being suspended from trading, “and, if a replacement nominated adviser is not in place within a period of one month, it may result in the shares of the company being delisted from Aim”
Could someone list the 7 CA Proposed Resolutions that we need to vote for on the 5th July at the HUR EGM
I like to see all 7 so I can make sure that my broker has these when I email them
Thanks
The organisation is Halifax, I didn't get charged not sure why scagmelag has been charged!!!
I sent these instructions to customercare.hsdl@halifax.co.uk
"Dear Corporate actions
Shareholder Restructuring Plan Meeting to be held on 11 June 2021 (Special Resolution)
1. That the Restructuring Plan as set out at Appendix F of the Explanatory Statement is approved. - For, Against, Abstain - AGAINST
Annual General Meeting to be held on 30 June 2021 (Ordinary Resolutions):
1. To receive the Annual Report and Group Financial Statements of the Company and reports thereon of the directors and auditors for the year ended 31 December 2020.
- For, Against, Abstain - AGAINST
2. To re-appoint Deloitte LLP as the Company's auditors until the next Meeting and to authorise the directors to agree their remuneration.
- For, Against, Abstain - AGAINST
3. To elect Richard Chaffe as a director of the Company pursuant to article 62 of the Company's Articles of Association.
- For, Against, Abstain - AGAINST
4. To elect Antony Maris as a director of the Company pursuant to article 62 of the Company's Articles of Association.
- For, Against, Abstain - AGAINST
5. To re-elect Steven McTiernan as a director of the Company who retires by rotation pursuant to article 64 of the Company's Articles of Association.
- For, Against, Abstain - AGAINST
6. To re-elect Sandy Shaw as a director of the Company who retires by rotation pursuant to article 64 of the Company's Articles of Association.
- For, Against, Abstain - AGAINST
Please confirm that you have received the instructions above and that they have been actioned accordingly"
The reply I received was
"Dear Mr **********
Thank you for your e-mail.
This is fine,
The votes for the first meeting were submitted yesterday, the second will be submitted on the 24th
I hope I have been able to help you with your query, however should you require any further information please do not hesitate to e-mail me at any time or alternatively call us on 03457 22 55 25.
Kind Regards
Helen McCusker
Stockbroking
Not sure why you have been charged as there was no mention of this in any emails I received from Halifax!!!!
39644 Votes against all :-)
I've just spoken to my brokers and done my vote against all 7 BOD resolutions :-)
Well I pinged off around 8 emails last night to various organisations.
Let's hope more shareholders do the same.
Has anyone got contact email for CA?
Above is my x-o.co.uk account number.
Can anyone tell me how I can purchase shares in Cellular Goods (CBX) when it goes live on the LSE on Friday the 26th February? I would like to put an order in on Thursday 25th February after the LSE closes ready for the Friday morning trading. Is this possible to do through my broker?
Thanks in advance
Worth a watch, Interview with Nicole Godresse who's the Global Chief Sales Officer. Interview was on the 1st February
https://www.youtube.com/watch?v=atRbVcHOyeY&feature=youtu.be