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The last CMD video did not include the Q&A, and was not live. Both aspects were disappointing and I duly complained so there is no excuse for investor relations to not do it properly this time. I suggest you all get your complaints in directly to investor relations in advance this time so that there can be no misunderstanding within HUR. As we all know the CMD Q&A can be the most important thing. Even if the II's are not asking anything we do not already know, the mere fact of who is asking, and what they are asking, is itself important information for ALL investors.
With regard to the CMD, I have been in touch with HUR and the current plan is for a video of the event to be published on their website later in the day. It will not be live streamed.
There will be an Operational Update type RNS in the morning that will contain any price sensitive information that will be provided in the CMD itself.
Small retail investors are not normally invited to CMDs, so not sure why anybody is remotely surprised by that.
The important thing is that on the 11th July we will get the low down on the EPS (and other key issues) and will also get to view the video of the event later in the day. I don't know if Q&A is included in the video presentation but would certainly hope so as it is a key part of the event.
Foresight, pretty sure any price sensitive information that might be discussed at the CMD will be released in a 7am RNS.
With regards to who can go...
"Inviting analysts and investors A capital markets day will typically be announced in advance, and the company can choose to invite both analysts and investors. Generally, investors are also invited to a a capital markets day , whereas when the company only plans to invite sell-side analysts it will be called an analyst day. Many larger companies hold a capital markets day annually, and webcast this through their website. It is common practice to post the (slides of the) presentations given on the website."
It should be possible for (significant) investors to receive an invite and I would encourage the BoD to extend an invite to a few shareholders.
F22 I quite agree, but I guess HUR are only doing what most larger companies do.
Present to instis and analysts to attract/retain investment from the larger pools of capital, while keeping numbers manageable. I would guess they might say we had our chance at AGM, tho of course CMD this year will have crucial updated info and I think many of us would have gone a long way to be there, notwithstanding even a live video.
I am not particularly critical of HUR for adopting common market behaviour, tho I can't see why a live rather than later video could not have been arranged.
Seems to be very strange having closed CMD - more M&M I suppose. Minor shareholders do provide Capital so how can they be not invited? Shares can be traded during this meeting so not level playing field if ALL not invited. CMD should be focused on Technical Content presented - plus for invite-ies to have access to Rooms-Chat. If presentation shared before - the chat cannot be, which based on this years’ AGM was 100% more insightful. Seems poor if ALL are not invited...
adoubleuk, there's no technical reason why it shouldn't be real-time so I'd wonder why they chose not to if it isn't, particularly as HUR is reported as having a high retail contingent.
That said, I don't particularly mind so long as the replay includes the Q&A session, usually the most revealing. Again, if it was excluded then my question would be why. I've exited companies for that sort of behaviour.
We were writing at the same time, I'd mentioned the webcast, but then deleted those sentences for reasons of my own. But as you've now let the cat out of the bag, so to speak, yes, my understand that there will be a 'webcast', but not reil-time 'live'. Shortly afterwards, consultable on the company website.
JP, I contacted HUR to confirm the date. The CMD is invitation only (typically sell side analysts) but there will be a webcast - I assume real-time. Typically, an RNS is released that morning before market open with the key notes of the CMD. I'd expect it to present the early findings in relation to well and reservoir performance with detail on hole pressures and other good tech stuff. All the indications so far are that the news should be good, and that's what I expect but always best to be cautious. If the news is good then I'd expect it to have a greater share price impact than first oil or lifting. But it may not be so back and white hence the caution. In my experience these things get over hyped.
"You don't actually think this a prelude to another raise do you? "
I wasn't at the AGM, but from feedback believe that the CFO said that there were no further 'fundrasings' planned in the near future. Whether this was said to the meeting in general or in conversation afterwards with individuals, I don't recall.
I note the apparent excitement that the CMD is creating and the hope that there will be some news to feed into the event. Almost as if this is the event that will rerate the share to the value that the PI thinks it should be.
This all without any clear indication of why the company is embarking on this event.
If you could assist someone who barely knows about the CMD. What format does it take? Is it a presentation to an invited audience, who will be there on behalf of Hurricane, are there other Companies in attendance etc?