Prax takeover of Hurricane Energy

[Bobabc]

I have CFD's on Hurricane Energy and I am unaware of what will happen after the takeover by Prax 

Will my CFD's be included in the offer benefits?  (Offer summarised below)

or am I at risk of losing my stake and more  if I do not close out before the takeover and subsequent delisting of HUR?

Thanks in advance

·    the Transaction Dividend of 3.32 pence per share in cash  and

·    the Cash Consideration of 0.83 pence per share in cash  

·    the Supplementary Dividend of up to 1.87 pence per share in cash  and

·    a Deferred Consideration Unit, which may deliver up to 6.48 pence per share in cash , plus such amount of the Supplementary Dividend Amount which is not declared as a dividend prior to the Scheme Effective Date.

The Acquisition, assuming full value is delivered by the Deferred Consideration Units, will deliver Hurricane Shareholders 12.50 pence per Hurricane Share 

[OfentseIG]

On 19/03/2023 at 21:10, Bobabc said:

I have CFD's on Hurricane Energy and I am unaware of what will happen after the takeover by Prax 

Will my CFD's be included in the offer benefits?  (Offer summarised below)

or am I at risk of losing my stake and more  if I do not close out before the takeover and subsequent delisting of HUR?

Thanks in advance

·    the Transaction Dividend of 3.32 pence per share in cash  and

·    the Cash Consideration of 0.83 pence per share in cash  

·    the Supplementary Dividend of up to 1.87 pence per share in cash  and

·    a Deferred Consideration Unit, which may deliver up to 6.48 pence per share in cash , plus such amount of the Supplementary Dividend Amount which is not declared as a dividend prior to the Scheme Effective Date.

The Acquisition, assuming full value is delivered by the Deferred Consideration Units, will deliver Hurricane Shareholders 12.50 pence per Hurricane Share 

Hi @Bobabc

Thanks for reaching out. We apologize for the late response. 

Corporate Actions events apply to both non-leverage and leverage accounts. 

The affect that a takeover will have on an existing position will vary, depending on whether the acquiring company offers cash, stock, or a combination of both for the target company.

Cash takeovers:

Your position will be closed out when the cash is received and adjusted for interest, depending on the contract of the trade.

Stock takeovers:

Your original position will be closed, and a new position will be opened to reflect the terms of the takeover, based on the previous night’s closing price. Any stops or limits will be adjusted accordingly.

Cash and stock takeovers:

The original position will be closed, and a new position will be opened to reflect the terms of the takeover based on the previous night’s closing price and the cash offer, and adjusted for interest depending on the contract of the bet. Any attached stops or limits will be adjusted.

All the best, 

OfentseIG