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Hurricane Energy plc (HUR.L)

LSE - LSE Delayed Price. Currency in GBp
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0.8470+0.0170 (+2.05%)
At close: 4:29PM BST
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  • S
    SKIRED
    To Whom It May Concern,

    I want to bring to your attention, a potential fraud with a UK AIM company named Hurricane Energy.

    The company is planning to give 95% of the company to bold holders for just 50m. This is despite 15 months until the bonds mature date, rising oil prices, which is very strongly premature based on the company's outlook.

    The second largest shareholder Crystal Amber has tried to communicate with the board to take the company forward, all attempted communications with the board have been ignored, which clearly breaks the AIM Corporate Governance rules, which states,

    Under Dialogue with shareholders
    "There should be a dialogue with shareholders based on the mutual understanding of objectives. The board as a whole has responsibility for ensuring that a satisfactory dialogue with shareholders takes place"

    Crystal Amber said it suggested in October that Hurricane should buy in some of its loan notes at below 50% of par value.

    It said Hurricane’s chairman previously remarked that such purchases would be a “commercial no brainer”.

    But Crystal Amber said no update on bond purchases or capital allocation had been provided.

    Crystal Amber said it had done everything possible to support the Hurricane since making an initial investment in 2013, but appears to said: “We note that the seven board members of Hurricane own shares with a total value of £60,000.

    “We are no longer prepared to be excluded from participating in the evaluation of impending critical to be both indecisive and obstructive.

    “Therefore, we now intend to take appropriate action in order to maximise Hurricane’s potential.

    I believe the Hurricane Energy board, have deliberately ignored all Crystal Amber's attempts of communications, including those to add additional finance to take the company forward.

    I strongly believe the company has an agenda against the best interests of shareholders, for their own personal gains.

    I hope you will get involved in this potential court case and fight against the injustice caused.

    Thank you very much for your time and help in advance.
  • S
    Shaf
    Please give me an honest advice.

    Any chances for this company to go bankruptcy?

    Do you think the current price is good for new entry price if I hold it for 1 year ?

    Thanks in advance.
  • S
    SKIRED
    With the shares now at a penny would there be a take over? The company is worth well over its market cap, will be a very interesting few months.
  • a
    alex
    Diluting shares because they can’t pay debts. That’s not what I was expecting. Another bag to hold 🙄
  • E
    Edward
    I really do feel sorry for people that may have invested part of their pension or savings in this company. Perhaps if the directors incomes were linked with the share value then perhaps they may be more interested?
  • S
    SKIRED
    My post was deleted, I guess my honest opinion about the board of directors was too much for Yahoo Finance. I'll try and use less flowery language in future.
  • M
    Market
    Compadres the board members are senile, hold your positions and in the meantime all retail investors contact Crystal amber to aggregate voting rights ~ oust the board and bring in fresh blood 🩸
  • E
    Edward
    87% loss - excellent performance from all the team at Hurricane. Happy Friday!
  • K
    Kevin
    I smell corruption. I'm in at break even but I know my shares worth more. might just take legal action to get it right. who's with me.
  • f
    fahim
    This company is playing games! I am sure someone will take them court ! 1. They didn’t consult with shareholders with their decision 2. Bond not due until July , 2022, 3. They have spare cash £127m 4. Oil production still could run until 2024, 5. Looks like they are making £150m year profits every year ... do not understand why they took that decision unless they are playing around
  • a
    alex
    A sceptic might say they have dropped the price before the accounts are released next week.
    Bullish
  • S
    SKIRED
    Well I have lost my money here; what a bunch of corrupt evil directors involved here. Company is well worth the current market cap and they are drilling oil, oil prices going up but these directors were driving down prices to satisfy the bond holders.
    Hope this goes to court, an absolute disgrace.
  • S
    SKIRED
    Share price crashed from 3.60 to 2.40 from the Shetland news. Will hold for now but not great news at all.
  • S
    SKIRED
    Well that's just ruined my bank holiday weekend. :(
  • W
    Wael El Merhabi
    What happened suddenly? Any explanation for this sudden drop today?
  • J
    James
    Could someone explain why my stock price for this is $0.044 and I see people discussing prices of $3-$4?
  • f
    fahim
    Very optimistic for this share, this share very much undervalued compare to its revenue! I have bought at 4p but going to buy more at this price 3p , good days coming soon 📈
    Bullish
  • S
    SKIRED
    I bought this at 3.75 but currently trading at 3.13. I think the stock is undervalued and expect an increase in revenue this year and targeting around 4.50. There has been some insider buying too which gives me optimism the stock will turn around. Long term hold for me.
  • a
    alex
    What just happened??
  • K
    Kevin
    with oil price increasing this is so cheap in my opinion. they could have been a bit more enthusiastic in the latest communication but that does not mean this negative price movement. I smell more manipulation.
    Bullish