Hurricane Energy plc today said that shareholder Crystal Amber Fund Ltd had withdrawn its requisition notice to convene a general meeting to replace senior managers. FORMAL SALES PROCESS The requisition notice in December 2022 came seven weeks after Hurricane announced a formal sales process. “This is a welcome development,” said chairman Philip Wolfe. “It enables […]
Tag: Crystal Amber Fund Ltd
Hurricane ‘mystified’ by call to remove senior directors
Hurricane Energy plc has received a requisition notice from its largest shareholder Crystal Amber Fund Ltd for a general meeting to remove senior management and appoint new directors. DIRECTORS Crystal Amber’s resolutions include the immediate removal of chairman Philip Wolfe, chief executive officer Antony Maris, and chief financial officer Richard Chaffe. The activist investor has […]
Hurricane Energy initiates own sale process
Hurricane Energy plc said it would begin a formal sale process after receiving an unsolicited cash offer from an unnamed bidder for the company. INDICATIVE OFFER The offshore oil and gas company added that the indicative offer of 7.7 pence per share was at a premium of “only 13%” compared with the mid-market closing price of 6.8 pence per […]
Hurricane Energy appoints Juan Morera as board NED
Hurricane Energy plc has appointed Juan Morera to the board as a non-executive director with immediate effect. The move follows a request from shareholder activist investor Crystal Amber Fund Ltd. Mr Juan Morera Calveras (Juan Morera), aged 39, is a CFA qualified investment analyst with more than 10 years’ experience. He currently works as an […]
Hurricane interim chairman John Wright to step down
Hurricane Energy plc announced that John Wright has agreed to step down from the role of interim chairman. The move is in connection with a request from activist investor Crystal Amber Fund Ltd to appoint Juan Morera to the board as non-executive director (NED). Hurricane said it anticipated that Mr Morera would join the board on completion […]
Hurricane NEDs resign and requisition notice withdrawn
Hurricane Energy plc announced board resignations and appointments as well as the withdrawal of a requisition notice from one of its shareholders. BOARD CHANGES Yesterday (29 June) chairman Steven McTiernan, and non-executive directors (NEDs) John van der Welle, Sandy Shaw, Beverley Smith and Dr David Jenkins resigned from the board with immediate effect. Alan John […]