Member Info for schlemiel

That article is dated 25 June 2021. Court hearing decision dated around the same date. CA rumoured to be in talks regarding their stake in DLAR. Coincidence?

'However, the fund (CA) is now in talks to sell its 14% holding and broking sources said it had received informal approaches from De La Rue’s rivals.

The group has previously turned down a bid from French giant Oberthur Fiduciaire, which is said to be potentially interested in the stake. Possible other buyers include Germany’s Giesecke & Devrient and Crane Currency of the US.

If one of the rivals bought Crystal Amber’s shares, it would be seen as a likely precursor to an outright takeover, although sources said they could simply retain it as a strategic holding.'

https://www.standard.co.uk/business/banknotes-passport-brexit-de-la-rue-crystal-amber-stake-shares-sale-b942636.html

'The Fund strongly believes thatDe La Rue's equity valuation is significantly mispriced. Unless the stock market is prepared to value De La Rue appropriately, Crystal Amber anticipates that it is likely that a trade buyer or buyerswill intervene in order to acquire the business'

http://storage.googleapis.com/crystalamber-com.appspot.com/_downloads/monthly-net-asset-value-2021-08-05.pdf

If this transaction does occur it will raise more cash for CA though I can't find out what % stake CA owns in De La Rue

thanks again to M80.

HTTP://www.lexology.com/library/detail.aspx?g=e8959bde-41ad-4af4-a309-3518ab4a5f62

Can the issuer buy back its bonds?

The first thing to do is to look at the relevant contractual documentation (normally the bonds’ terms and conditions and the trust deed) to see whether the issuer is expressly permitted to buy back its bonds, or expressly prohibited from doing so. The most important first step is to look carefully at the contractual documentation.

Express permission

Most bond issues will expressly permit the issuer or any of its subsidiaries to buy back bonds. The documentation will also regulate:

-- -- How this needs to be done: most often this is permitted at any price, in the open market or otherwise – but there could be restrictions imposed on the method of purchase (eg by tender); and

--- - What the issuer can/must do with the bonds repurchased: some issues will provide that the bonds must be surrendered to the paying agent for cancellation, while others will give the issuer the choice of cancelling the bonds or holding them and/ or selling them on.

cont.....

Can Crystal Amber allowed to use its own funds to buy Hurricane's listed bonds or is that outside its trust rules?

I suppose the real question is this : Isn't it only Hurricane that is allowed to buy their own bonds and then how is that debt then redeem and cancelled? I'm not sure of the mechanism

He's noticed Crystal Amber's RNS dated 4 Aug that they've reduced their stake in DLAR (De La Rue from 12.98% to 11.40% at prices around £1.75. Why is CA releasing cash and for what purpose?

https://uk.advfn.com/stock-market/london/de-la-rue-DLAR/share-news/De-La-Rue-PLC-Holdings-in-Company/85750495

Qualcomm is a far better fit for Veoneer, both being pure bred software companies though I believe Q-Comm do outsource some production of Semi-conductors. Magna is more a but not exclusively a manufacturing company that produces hard goods (I think car companies outsource the production of some of their cars to Magna) rather than 'invisible goods' like software. Seeing Machines is a pure bred software company with a small percentage of hard products (cameras and Guardian systems)

I reckon Q-Comm have Veoneer in the bag though from what I've read they only want Arriver and intend to offload all others parts of the business. SEE's non-software part of their business (Guardian for example) would not fit in with Q-Comms operations. If someone does buy SEE then the hardware part of the business won't be an attractive aspect of the company. A bidder will ditch it.

I have always thought that SEE should have become a pure software company. Such an approach minimises costs and protects them from having to 'go out' into the real world fitting cameras into trucks and planes and then setting up costly monitoring 24-7 stations to provide a 24-7 monitoring service to its clients drivers

SEE should split both businesses into software (DMS automotive) and hardware (Guardian)

But what do I know. Just my naive thoughts

aduk - Probably one of the best posters on this board. Brings insight, clarity and order to the debate. Thanks for your contribution

I can't speak for others but my working knowledge of O & G matters is zero so from now on I shall confine myself to general matters which require a somewhat limited level of underdtanding and let others like aduk dispense their wisdom

GLA

those deliberately concocted wrongs are now be righted by a board whose focus is on doing the right thing for the company rather than lining the pockets of greedy bondholders and their outriders who saw an opportunity to steal the company and its assets, delisted and then sell them on for a nice, fat wad...I saw it at Timan and the criminality of that theft hopefully won't be repeated here

Seeing Machines deciding not to make any official reference to Veoneer's takeover.

have got this price on a string

i'm down 4k but without company news the price is a sitting duck for nefarious operators

He's grandstanding cos he's a woke Labour leader playing the green card. He has no power to do anything

The OGA controls what happens in the North Sea -

'On 1 October 2016 we became a government company, limited by shares under the Companies Act 2006, with the Secretary of State for Business, Energy and Industrial Strategy the sole shareholder.

The OGA is largely funded by an industry levy introduced on 1 October 2015. We are headquartered in Aberdeen with a second office in London'

Transition from NS oil and gas to renewables will be a medium term phasing out process but the idea that the NS oil and gas industry is simply going to disappear anytime soon is nonsense

'Published in April 2019, the OGA's second Corporate Plan outlines the priority activities it will focus on over the next five years (2019-2024).

Our ambition :

Our ambition is to be a world-leading authority setting the framework for a sustainable and competitive UK oil and gas industry.

Our purpose :

Our purpose is to maximise the economic recovery of oil and gas, whilst also supporting the move to net zero carbon by 2050.'

https://www.ogauthority.co.uk/about-us/ambition-priorities/

This is Maris in Dec 2020. Read this and tell me this company has no future: The next 6 months are gonna be very interesting indeed : I bought low but I am hoping that those sat on heavy losses reclaim their just rewards :

Antony Maris, Chief Executive Officer of Hurricane, commented:

“Options to enhance both Lancaster field performance and recovery have progressed considerably in recent months, utilising the revised geological model of the Lancaster field and a rebuilt simulation model incorporating additional reservoir data gathered since September 2020.

While several development options continue to be evaluated, a side-track of the existing 205/21a-7z well to an up-dip oil producer location could increase oil production from late 2021. This could be followed by a water injection well in the northwest of the Lancaster field, which, with related FPSO and subsea work, could provide pressure support and sweep oil within the onlapping sandstone reservoirs towards the producing wells from late 2022.

We will now commence a period of stakeholder engagement to seek alignment on the merits of this further Lancaster activity and the support and/or approvals which may be required to execute this programme. While there can be no certainty as to the outcome of this engagement, we continue to believe there is significant value in Lancaster and our broader West of Shetland portfolio, and we remain focused on delivering that value for the benefit of our stakeholders'

https://www.hurricaneenergy.com/application/files/8016/0827/5476/20201218_-_HUR_RNS_-_Corporate_update_vF.pdf

Qual offered $37, price now $39.86 so the market appears to believe a counter bid is a possibility

Rebecca Bellan
Thu, August 5, 2021, 6:51 PM

excerpt

'While the provision doesn’t dictate what type of tech has to be in these vehicles, industry experts believe that companies developing camera-based driver monitoring systems (DMS) stand to benefit the most. DMS systems are already mature in the auto industry, representing a technological byproduct of autonomous driving developments. While the auto industry explores self-driving cars as a way to drastically reduce road deaths in the future, advocates and regulators say there's room to use some of this tech to solve problems that exist now, like drunk or distracted driving.

“What's happening in the U.S. Senate this week potentially opens the door to a camera-based real-time solution, which will be the first time that the U.S. automakers will have the ability and the requirement to look at real-time physiological changes in your body that occur when you are inebriated,” Dr. Mike Lenné, chief science and innovation officer at Seeing Machines told TechCrunch. "There are distinct reliable changes to the way you scan the environment, to the way your eyes respond to stimuli, which is why the police use that ‘follow the finger’ test."

The system would have to monitor the performance of a driver to detect impairment and prevent or limit vehicle operation if impairment is detected; detect whether BAC (blood alcohol concentration) is equal to or greater than the legal limit, potentially preventing operation of the vehicle at all; or a combination of both systems.

Cameras aren't the only solution that has been trotted out in recent years.

The Driver Alcohol Detection System for Safety (DADSS) program, a technology that’s been developed in partnership between the Automotive Coalition for Traffic Safety and the National Highway Traffic Safety Administration (NHTSA), has advocated using a breath or touch-based approach to determine BAC levels. The touch-based approach involves measuring BAC through the skin's surface by shining an infrared light through the driver's fingertip. According to DADSS, the current timeline for bringing the breath-based approach to vehicles is by 2024, and the touch-based approach by 2025.

Lenné argues that a camera-based approach would be far more successful than a breath or touch-based approach because BAC levels can rise within minutes. Someone could theoretically down a bunch of shots immediately before getting behind the wheel and it wouldn’t show up on a reading for several minutes. Or they could get wasted while driving. And BAC detection doesn’t help at all when it comes to drug-impaired driving. '

https://finance.yahoo.com/news/drunk-driving-provision-could-fuel-175156715.html

'There was a wave of automotive technology acquisitions prior to the COVID-19 outbreak. We are likely to see more acquisitions over the next few years as companies jockey for position in the new automotive market. They may also become highly competitive. It would not surprise Tirias Research if this is not the last offer we see for Veoneer from Magna, Qualcomm, or possibly another party. With Veoneer now in play, anything is possible.'

https://www.forbes.com/sites/tiriasresearch/2021/08/05/qualcomm-bids-against-magna-for-veoneer/

Now that is a development and a half. thanks

Market still a tad nervy even after today's good news from CA

'During July 2021, Crystal Amber has been in regular dialogue with the newly constituted board of Hurricane'....in other words, on the dog and bone daily. We've gone from CA having no communication at all with HUR to constant dialogue....love it

'Crystal Amber regards Lancaster as one of the most prolific production wells in the North Sea'.......exciting

'The Fund also gave evidence that Bluewater Energy Services B.V. (from whom Hurricane leases the FPSO - Floating Production Storage and Offloading - vessel) made contact directly with Crystal Amber in which it stated that it remained very keen to progress discussions and investigate solutions and proposals to extend the charter beyond June 2022. '

'investigate solutions and proposals'...I like the sound of this very much as it suggests flexibility regarding payment and remuneration on behalf of both parties. I wonder what the proposals and solutions are? An agreement cannot be that far away that will benefit both parties