Member Info for picsmaister

yes

On the question of tax, my broker has advised me as follows:

"Hurricane Energy plc has announced a return of capital. This means that your account will be credited with a cash payment, which will be treated as capital for tax purposes.

Under the terms of the return of capital, your account will be credited with GBP0.031 for each share held.

For further information, please copy and paste the following link into your web browser:
https://www.londonstockexchange.com/news-article/HUR/reduction-of-capital-and-notice-of-general-meeting/15754066

The return of capital is subject to shareholder approval at a General Meeting to be held on 11 January 2023, then subject to a court hearing to be held on 31 January 2023.

If approved, your account is expected to be credited with the cash proceeds on or around 1 February 2023."

its deffo a mistake

I am in

Sense - sorry about your predicament

I am happy to attend and ask some searching questions

There will be an opportunity to ask questions. There will be much obfuscating, but body language can be revealing. and can compare and contrast answers to those given at AGM.

Is anybody going to the General meeting on the 14th?

I am doing exactly the same and transferring some of my holding into my ISA to avoid a massive hit in income tax if the company go down the Divi route. I had hoped for a return of about 20p on any sale but my expectations are now lower in 12-14p range. Gald to see Sense back!!!!!!

Having spoken to Sense at length at the AGM (and afterwards in the pub), I have nothing but respect for the man!! Hope to see his return soon. Small PIs have a lot to thank him for !!!

For the life of me I cant understand what is going on with these removals . I thought it was an entirely legitimate post

Fingers crossed indeed. We need positive news. Given recent history I am naturally suspicious.

At the AGM, the Chair said he expected news before the end of the summer. When pressed, I think he said that Oct was the Autumn not the Summer (or words to that effect). That is where the end of Sept date originated.

Are you for real? Sir K is Leader of Her Majesty's Opposition and not PM! Poorest bit of attempted deramping I have ever seen. 5 Year olds could do better.

I have just sent this

"Dear Mr Wolfe

The RNS last month gave notice of the Company's intention to reduce the frequency of it’s production & finance updates.

I believe that this would be a seriously retrograde step. You will know that the monthly production & finance update has been a source of considerable interest & comfort to shareholders as the Company recovered from the dark days of 2021.

The repayment of the Convertible Bonds (although hugely welcome) is not a reason in itself to halt these updates. As long as single well dependency exists, monthly well performance, production & finance figures remain crucial. We are not out of the woods yet. The monthly update is essential. and I ask that the Company reinstate them forthwith. Such a step would be a positive indication that you are listening to and taking account of the views of shareholders.

Given his interest, and as a shareholder in Crystal Amber myself, I have copied this to Richard Bernstein.

Here here. I will email too

The extent to which legislation can be changed depends on the terms of the original primary legislation. I havent looked at the terms of this act but it may be an enabling provision allowing for laying of regulations subsequently either by positive or negative resolution

have topped up with another 46k shares this morning

My take on the AGM was pretty much the same as Sense's. Atmospherics not good but the BOD (including the Chair and NEDs) will have been left under no illusion that PIs remain distinctly unhappy about a) the idiotic restructuring plan, b) poor communications from the company (albeit improving slightly) c) the lack of progress in developing a forward plan.

There was no (no) acknowledgement from Maris or Chaffe that they got it wrong last year with the restructuring - but the body language of the former was poor. It was made clear that the absence of any contrition was a key issue of confidence (or lack of it) for PIs

On a more positive note, and from speaking informally afterwards, I do think they working actively on a plan to develop P8 and/or to merge or acquire existing business. Decisions promised by end of Sept (after being pushed to define what was meant by end of the summer).The key will be how much risk CA let them take. I also think we will see the BoD with greater skin in the game within the next 2-3 months or so.

The Clarence was a nice pub btw

Me too

Email sent at 1150

Thanks Sense - will be at the AGM