IOMINVESTCOM
10 May 2018
Director buys @ 1.8756 LONDON (Alliance News) - Henderson High Income Trust PLC said Non-Executive Director Jeremy Rigg purchased 10,000 shares at a price of 187.56 pence per share on Thursday.It has not been disclosed how many shares Rigg now holds in the company following the GBP18,756 deal.Shares in the trust were down 0.5% at 187.00 pence on Thursday.
Wordbodger
05 Mar 2018
Interims out today In a way the interims both confirm and contradict the previous thread, 'A Reckless Gamble?'CRA are just what you expect in an Activist, much Sturm Und Drang as they take positions in poorly managed companies being run for the benefit of Directors ahead of Shareholders. Sutton Holdings looks like one clear success in the latest period. Northgate and Ocado are unresolved but claimed as positive, but there are some disappointments too: not sure I like handing over cash to a company(Leaf) to fight a legal dispute and GI Dynamics has lost its first battle for access to its primary market.Hurricane was a very successful investment as the sp climbed, and CRA have taken some profits. But they were blindsided by the capital raising and perhaps missed their chance to take more profits, betting wrongly on a farm out. That would have supported the sp at the same time as reducing the long-term opportunity. Perhaps it was never an ideal investment for an Activist, but so far it has not been reckless. There is also a clear path with HUR to a FTSE350 listing - however that happens it may offer a chance to reduce the holding. There is speculation on HUR bbs is that a new Chairman will soon be announced, which might light the path to the main board.
kolwezimundele
23 Jan 2018
Re: HUR: A reckless gamble ?? From 245p to 175p to 210p. Quite a ride so far. Mostly due to HUR?
TX2
04 Dec 2017
Re: HUR: A reckless gamble ?? CRS has not gambled 33% of it fund in HUR;it currently has marked to market price about 25% of its fund in HUR;at its cost about 20%.CRS has also taken out around £16m profit from selling HUR shares which it has invested elsewhere.Most of CRS shares are held by other funds.It is not a suitable share for any private investor who may need to sell the share within a specific time frame due to its illiquid nature.
Biffadog
30 Nov 2017
HUR: A reckless gamble ?? There has been lots posted on Richard Bernstein, but perhaps the key issue that should be highlighted is his reckless gamble of over 33% of Crystal Amber Fund's money on an AIM listed oil company. HUR didn't even have the money for the 2016/17 Lancaster and Lincoln drilling campaign at that stage. Even on the assumption that this was a winner, there was no finance lined up to get HUR to FOIL, and we all know that's where AIM listed oil companies can fail miserably. RKH is a classic example.So whatever you think about RB's petulant twitter ramblings, you have to ask yourself, has this supposed professional investor committed a truly spectacular rookie error and painted himself into a corner on a reckless gamble that HUR would secure a suitable FO deal before FOIL.It certainly looks that way to me and if I was a CRS shareholder I would be furious.On that note, if you do hold CRS (23% OF NAV Is HUR), then you have to ask yourself the question, do I believe that the HUR EPS will be successful ?If the answer is no, then you should sell CRS.If the answer is yes, then you should still sell CRS and buy HUR at this crazy price and get the most out of the bonanza that will surely followSo in my view, Bernstein is a reckless gambler who has staked far too much on one small AIM listed oil company and it has backfired badly. He has painted himself into the proverbial corner this time and will just have to wait patiently with the rest of us. A truly amateur error Mr Bernstein, stop the distraction tactics your mistake is clear for us all to see.Kerogen and $530M have bought the long term plan laid out by the BOD to take HUR forward to FOIL, an income stream and potentially a great FO deal. CA can't change a dicky bird with an 8% holding.I was also at the AGM when the infamous "sell Lincoln for $500M" question was asked by RB (second row, right hand side as you walk in and next to the aisle with Malcy two thirds of the way back on the left and on the actual aisle seat FWIW) and it was all very hypothetical. RT said no because he felt it was worth far more in time. At any rate Lincoln has been drilled only once, not even flow tested and as such is worth peanuts at this stage in the game. To even think of selling a potentially huge field that has not even had a basic appraisal drilling campaign done on it shows how little RB seems to know about getting true value out of an oil discovery of this magnitude.This is just another example of just wanting to bump up the CRS SP in the short term. Bernstein is no friend of the HUR shareholder. In my view he hasn't done anything to support HUR. Happy to buy shares on the cheap at 10p-20p (just as I and many others were) and got a nice touch on the back of the Kerogen equity raise. We have Kerogen to thanks for financing the drilling campaign and the new investors ($530M) to thank for getting us to FOIL.To add some balance to my post, this is not to say that I don't think Rob Trice moving to a COO (Chief Operating Officer) type role and bringing in a heavyweight CEO is a bad idea. I agree with this and it wouldn't surprise me if Rob Trice agreed too. However, I don't have anytime for the way RB is trying to achieve this. Totally unprofessional.Fundamentally nothing has changed with HUR. The oil is still there, the funds to get to FOIL haven't evaporated and the plan is being executed on time (so far). This is all just noise and unless you are heavily leveraged on a spread bet or the like, then the fall in the SP should be of no real concern (irritating though it may be). It does however provide the opportunity to sell your CRS shares and increase your HUR shareholding at a great price, if you are so inclined.Rant over.GLA.
TX2
17 Nov 2017
Re: Serious discussions needed ......... The main problem is Hurricane;although CRS is still on paper in profit on this stake it is totally illiquid & constitutes about 25% of CRS portfolio.There is an additional problem in that CRS shares are themselves very difficult to sell in any number at anything near the spread,you can buy easily of course!I sold the larger part of my holding at an average of 230p and at a decent profit as I felt its exposure to HUR was too high & the then price of HUR was high.CRS holdings including that @ HUR probably have long term potential but I don't see profitable realisation of significant positions in its investments in the near future.
sage in the hills
17 Nov 2017
Serious discussions needed ......... .......The basic question is ......"What on earth is going on here ? "and the follow up is ....."How is value now going to be added ? "SAGE
freedom-thirty5
13 Jul 2017
Re: Hurricane - Related That article reads like it was generated by a Markov Chain algorithm, which it probably was.
IOMINVESTCOM
13 Jul 2017
Hurricane - Related [link]
Johandesilva
25 Jun 2017
IOMINVESTCOM We share some similar interests. I see you also take note in biotecs. Please follow IBT as well.
IOMINVESTCOM
23 Jun 2017
Re: Added a few.......... Crystal Amber Fund Limited23 June 201723 June 2017CRYSTAL AMBER FUND LIMITED("Crystal Amber" or the "Fund"
Statement re. share priceCrystal Amber notes the recent decline in its share price. The Directors believe it primarily reflects the decline in the share price of its largest investment, Hurricane Energy plc ("Hurricane". The Fund currently holds 150,000,000 shares in Hurricane at an average cost of 23p a share. In addition, the Fund holds warrants over 23.3 million shares exercisable at 20p a share. The Fund has previously realised profits on Hurricane of GBP15.7 million.The Fund attributes Hurricane's share price decline principally to the poor handling of its warrant issue announced on 12 May 2017 and comments at its AGM on 7 June 2017, which referred to the near term focus being on funding and delivering the Early Production System.As Hurricane's largest independent shareholder owning 12.2% of the issued share capital, Crystal Amber is supportive of monetising Hurricane's assets, which are valued by Crystal Amber's external consultants who have been its consultants for the last two years, on a NPV10 basis and assuming a $55/bbl flat nominal oil price and that contingent resources "trade" at a discount to reserves by 50%, at 219p a share. The Fund also notes comments at the AGM regarding the reopening of Hurricane's data room to a limited number of oil companies that have the requisite development credentials to take the Rona Ridge project to full field development. The Fund also believes in the strategic value of Hurricane's asset base.
IOMINVESTCOM
21 Jun 2017
Added a few.......... Just added a few myself.......watching HUR share price as trigger. HUR – currently 31.5 / 31.75 CRS has fallen 50% on my fib level so not a bad area to start nibbling again. If 2.02 breaks then next area of support 1.93 atb
freedom-thirty5
15 Jun 2017
Re: CRS related - Grainger reduced Quite a fall in SP lately.All due to HURR, or anyone think its a deeper issue?
IOMINVESTCOM
30 May 2017
CRS related - Grainger reduced GraingerUK activist investor Richard Bernstein reduced his holding in the UK’s largest listed residential landlord Grainger (GRI), which recently reported a 39% jump in earnings growth, benefiting from record levels of renting.Bernstein and co-manager Jonathan Marsh reduced their stake to below 3% of the business. The company’s share price is up 19.5% over the last six months. The shares are held in their £214.5 million Crystal Amber fund.Grainger recorded a 13% rise in pre-tax profits in the six months to 31 March to £41.2 million, from £36.6 million year-on-year.In its half-year results, CEO Helen Gordon said the company is expecting to complete a new private rental sector building every two months over the next year and has secured £439 million from a total £850 million target set for 2020.She added: ‘Our strategy to grow rents and simplify and focus the business puts Grainger in a strong position to deliver further sustainable income led growth.’
Johandesilva
19 May 2017
Re: Hurricane damage ? ..... ...but a whopping third of the Crystals NAV.I have been pondering long term to move more HUR holdings to CRS, but if you strip away HUR have the other shares done well? I am not so convinced. 2014 and 2015 had been poor.
