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Just came through under the latest RNS in case anyone hasn't seen: https://stream.brrmedia.co.uk/broadcast/64107f37f866e2102a4e9acf
You can add another 19 million shares to the NO movement. These are from an offline contact you can refer to as 'Phoenix' for the spreadsheet please
In the interests of being proactive to resist this offer -
1. Does anyone have a list of PIs and holdings?
2. Do we have somewhere to assemble as a community (on social media or otherwise) and have a proper way to plan
3. Are there existing communities elsewhere we can connect with other PIs - online or otherwise?
Be good to get a tracker going to find our 25% 'No' vote...
I will not support this and will vote against with my 400k shares.
Why would anybody support this deal to sell at such a significant discount of fair value? I would like to know the basis for CRA agreeing to sell on these terms, other than to 'give up' and make a hasty exit at our expense.
This isn't just about my holding and desire for a profitable return. I have invested hours in researching, monitoring and agonising over this holding. I believe it is worth considerably more than is on offer.
Even if they offered the full cash amount upfront I would be reluctant to sell.
I am willing to go the last, hard yards to ensure we defeat this in any vote. I hope others do and feel the same.
We have to assemble now with community, comms and the votes to vote this down.
Where are CA right now then - any hypotheses on why we've not seen any further warnings for an EGM?
I have to hope that this is because they're aware of the FSP progressing to their liking... but every day of eerie silence moves that closer to delusion.
You'd think with a lot of fairly well-off people with a lot riding on this might enlist some third party contractors to do 'something' that might lead to the changes we want from this quasi-criminal BoD.
They've been given more than enough time and still treat us with utter contempt.
I have 400k shares. Maybe we can join forces with some others...
Understood, but I believe it will help them to know that their shareholders are very real people and - if necessary - will bring some very real consequences for any failure to derive the value their mealy mouths constantly drone on about.
The clock is ticking.
I got a reply too - at least they're consistent and care enough to reply (presumably via a secretary of some kind).
I will give them a week.
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Thank you for your email.
With respect to the request for further information on the Formal Sales Process (FSP), the Company announced on 11 January 2023 that we had received multiple proposals from credible counterparties. As stated in that RNS, the proposals received were highly conditional and subject to further due diligence. As such the process of discussing the proposals with each counterparty is continuing. Given the sensitivity of these discussions we are unable and it would be inappropriate to provide a running commentary on these negotiations. The Company will provide further updates in due course as and when appropriate.
We hope that this addresses your questions.
Best regards
100% depending on the cost benefit of the action.
It may be cheaper to hire intermediaries to deliver a message more quickly and firmly, if required.
It was nothing special but it does feel a relief to have done what little I can to register there is disquiet. I expect it's quite easy for a BoD to forget we are real people investing our hard earned money. Even if they are quite unpleasant or selfish humans, they will get it on some kind of human level...
The more of us doing it, the more they will register they need to communicate to us.
I've sent mine. Respectful and measured but demanding for an update. Leaving room to escalate if necessary.
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Dear Mr. Maris,
While appreciating the complexity and significance of your current workload in overseeing the Formal Sale Process (FSP), I also appreciate the time-sensitivity of this matter and so would urge you and your team to update your shareholders.
As a private investor, I feel very strongly that there is a lack of clear and timely communication to those of us who are the owners of this company, regarding the FSP. Sadly this reflects an historical trend of laboured and unenthused communications, which do not reflect a company that has - in the past 12 months particularly - become a good news story.
We would appreciate hearing some good news in a timely manner regarding the FSP, and in the interim would appreciate our expectations being effectively managed regarding the timeframe to conclude the process.
I hope that this will be forthcoming in some capacity by the end of this week.
Kind regards,
If you do have contact with Maris, then let him know that any further obfuscation or dragging of feet will be met with direction actions and redress will be taken.
The things that will be taken will be things he will miss.
In case anybody feels compelled to express their views on the direction of the company, the following may be useful: antony.maris@hurricaneenergy.com
I'm giving it 24 hours and then will be applying some pressure.
Good post and recognise all of the positive outcomes that lay ahead. However, I am nervous that every day passing without some reassurance on the basic funding or the required JV to realise our value properly, those aspirations become increasingly unrealistic.
At this point, unless we are on the cusp of something big, it is arrogance and pride that appear to be holding our dear leader back from speaking to his loyal PIs...
I applaud your passion and agree with your cynicism, but we can't be passive as CRA are now being when dealing with the brazen ineptitude (at best) and criminal negligence/corruption (at worst) of the current BoD.
When their warm words and lies fail to produce the expected, boiler-plate business outcomes (ie. a solid FSP near our fair market value), I propose we ensure there are real life consequences for their actions.
I will not allow them to take my shareholding to be taken in vain. I will harangue and haunt these imposters to the moons of Jupiter and make them regret everything they have done, and as it may come to pass, not done.
We are in the end game now and for their own sakes they'd better deliver the value they keep waffling about. Or else...
I'd anticipate an RNS will be forthcoming then and hope tomorrow brings some clarity. We could all do with it!
I think it was very likely exaggeration.
In any case they're already on extremely thin ice and should tread very lightly.
I'm sure I'm not the only one who won't simply shrug it off and it only takes one.
Confidence isn't required in anything but the PoO and that isn't dropping anytime soon. We have enough in hand and being extracted to justify well over the current SP.
If I had the reserves I'd be buying more at this price.
Why would anyone get out?
Cash in hand and future cash flows are worth more than the current share price...