George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Proposed Financial Restructuring
13 May 2021 Explanatory Statement and Appendices (Draft)
Hurricane Energy website
www.hurricaneenergy.com
investors
financial-restructuring-documentation
https://www.hurricaneenergy.com/download_file/force/613/336
4.27 In light of the terms of the Restructuring and, in particular, the significant dilution of the Plan
Company’s existing shareholders which will occur as a result of the Bonds Exchange, since
April 2021 the Plan Company has sought to engage with certain large shareholders, in order
to ascertain whether they would be willing to engage with the Plan Company in relation to the
terms of the Restructuring or otherwise provide financial support to the Plan Company. As at
the date of this Explanatory Statement, one major shareholder has held discussions with the
Plan Company, but this shareholder has not undertaken, or given any indication that it would
be willing, to provide additional financial support sufficient to dispense with the need for the
Restructuring. Another major shareholder indicated to the Plan Company's nominated advisor
that it would not be prepared to enter into confidential discussions regarding an unnamed
company, being the Plan Company, that would involve the sharing of inside information in
respect to that company and during which the identity of the Plan Company would have been
disclosed. Since the launch of the Practice Statement Letter on 30 April 2021, this major Page 30
shareholder has requested the resignation of both the chairman and the senior independent
Director of the Plan Company. Both Directors retain the full support of the Board.
Proposed Financial Restructuring
13 May 2021 Explanatory Statement and Appendices (Draft)
Hurricane Energy website
www.hurricaneenergy.com
investors
financial-restructuring-documentation
https://www.hurricaneenergy.com/download_file/force/613/336
Litigation
10.8 The Plan Company is not aware that it is a party to any litigation, material or otherwise.
10.9 On 10 May 2021 the FCA's Market Oversight Department requested that the Plan Company
provide information in relation to historic announcements made by the Plan Company and
recent developments in relation to the proposed restructuring. The Plan Company is not
under formal investigation, and is responding to the FCA's enquiries, which are at a
preliminary stage, on a voluntary basis.
Proposed Financial Restructuring
13 May 2021 Explanatory Statement and Appendices (Draft)
Hurricane Energy website
www.hurricaneenergy.com
investors
financial-restructuring-documentation
https://www.hurricaneenergy.com/download_file/force/613/336
Litigation
10.8 The Plan Company is not aware that it is a party to any litigation, material or otherwise.
10.9 On 10 May 2021 the FCA's Market Oversight Department requested that the Plan Company
provide information in relation to historic announcements made by the Plan Company and
recent developments in relation to the proposed restructuring. The Plan Company is not
under formal investigation, and is responding to the FCA's enquiries, which are at a
preliminary stage, on a voluntary basis.
Proposed Financial Restructuring
13 May 2021 Explanatory Statement and Appendices (Draft)
Hurricane Energy website
www.hurricaneenergy.com
investors
financial-restructuring-documentation
https://www.hurricaneenergy.com/download_file/force/613/336
4.27 In light of the terms of the Restructuring and, in particular, the significant dilution of the Plan
Company’s existing shareholders which will occur as a result of the Bonds Exchange, since
April 2021 the Plan Company has sought to engage with certain large shareholders, in order
to ascertain whether they would be willing to engage with the Plan Company in relation to the
terms of the Restructuring or otherwise provide financial support to the Plan Company. As at
the date of this Explanatory Statement, one major shareholder has held discussions with the
Plan Company, but this shareholder has not undertaken, or given any indication that it would
be willing, to provide additional financial support sufficient to dispense with the need for the
Restructuring. Another major shareholder indicated to the Plan Company's nominated advisor
that it would not be prepared to enter into confidential discussions regarding an unnamed
company, being the Plan Company, that would involve the sharing of inside information in
respect to that company and during which the identity of the Plan Company would have been
disclosed. Since the launch of the Practice Statement Letter on 30 April 2021, this major Page 30
shareholder has requested the resignation of both the chairman and the senior independent
Director of the Plan Company. Both Directors retain the full support of the Board.
Proposed Financial Restructuring
13 May 2021 Explanatory Statement and Appendices (Draft)
Hurricane Energy website
www.hurricaneenergy.com
investors
financial-restructuring-documentation
https://www.hurricaneenergy.com/download_file/force/613/336
4.27 In light of the terms of the Restructuring and, in particular, the significant dilution of the Plan
Company’s existing shareholders which will occur as a result of the Bonds Exchange, since
April 2021 the Plan Company has sought to engage with certain large shareholders, in order
to ascertain whether they would be willing to engage with the Plan Company in relation to the
terms of the Restructuring or otherwise provide financial support to the Plan Company. As at
the date of this Explanatory Statement, one major shareholder has held discussions with the
Plan Company, but this shareholder has not undertaken, or given any indication that it would
be willing, to provide additional financial support sufficient to dispense with the need for the
Restructuring. Another major shareholder indicated to the Plan Company's nominated advisor
that it would not be prepared to enter into confidential discussions regarding an unnamed
company, being the Plan Company, that would involve the sharing of inside information in
respect to that company and during which the identity of the Plan Company would have been
disclosed. Since the launch of the Practice Statement Letter on 30 April 2021, this major Page 30
shareholder has requested the resignation of both the chairman and the senior independent
Director of the Plan Company. Both Directors retain the full support of the Board.
Proposed Financial Restructuring
13 May 2021 Explanatory Statement and Appendices (Draft)
Hurricane Energy website
www.hurricaneenergy.com
investors
financial-restructuring-documentation
https://www.hurricaneenergy.com/download_file/force/613/336
Litigation
10.8 The Plan Company is not aware that it is a party to any litigation, material or otherwise.
10.9 On 10 May 2021 the FCA's Market Oversight Department requested that the Plan Company
provide information in relation to historic announcements made by the Plan Company and
recent developments in relation to the proposed restructuring. The Plan Company is not
under formal investigation, and is responding to the FCA's enquiries, which are at a
preliminary stage, on a voluntary basis.
Have you forgotten the Board got rid of all the “deadwood” where cash calls could come so that they had the resources to “protect” the investment in Ruvuma so why don’t you think the Board could find further funding if needed – do you not remember the substantial funding mechanism that was found for the potential North Sea purchase that did not progress?
Lol. Solo and Aex both on the same positive upward trajectory since 9 Oct – judging by the last week the share graphs on here for both look very similar by comparison:
SOLO 9 Oct 0.925
SOLO 15 Oct 2.225
AEX 9 Oct 0.4
AEX 15 Oct 1.5
A) = (Opening Share Prediction) 5p
(B) = (Share Price 31/12/2019) 10p
Yes, there needs to be a full explanation for the amount paid to Gneiss Energy, as the Board will no doubt be doing the same for this financial year, so its in the interests of shareholders to keep on top of this and ensure we hold the Board to account for what is a large sum. An explanation of what it was/is being use for is required in relation to Gneiss Energy.
5.5p
With AIM its about getting the timing right when you buy/top up and sell and having a strategy and sticking to it. Nothings guaranteed as you know.
Try reading the RNS, patience is required:
"Ruvuma monetisation options being reviewed: the Company has received a number of unsolicited indicative approaches by industry counterparties regarding its 25 per cent interest in the Ruvuma Gas Development project which the Company continues to review."
It's patience and more patience which we need in the meantime; hopefully a few more weeks and some news on both our main projects maybe
"Ruvuma monetisation options being reviewed: the Company has received a number of unsolicited indicative approaches by industry counterparties regarding its 25 per cent interest in the Ruvuma Gas Development project which the Company continues to review."
Up, Up and Away?
https://www.youtube.com/watch?v=ZxJ5vX555eQ
Helium One @Heliumone1 · Jan 8
More
This is how #helium forms, migrates, and is trapped in the Rukwa Basin, #Tanzania The 3D model was made using data obtained during our exploration activities. For more details on the Rukwa Project 👉 http://www.helium-one.com 👀 #geology
https://twitter.com/heliumone1?lang=en
**********************.com
https://**********************.com/2018/12/31/our-outlook-for-2019-part-2/
Top of the risers today it would seem:
Today's Share Risers
Solo Oil (SOLO) 1.80 5,654,536 12.50% 1.60 1.775 34