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Sent to the CVM regulatory agency of Brazil, and copies to the IR of HRT and other investors in Canada, US and Brazil.
Dear Sir or Madam:
This email is in regards to HRT Participacoes Em Petroleo SA.
To protest the plan of the board of Directors to bring about the reverse split of its shares by 30 to 1 for the Brazil shares and 60 to 1 for the Canadian and US GDS shares and the removal of the poison pill.
I and other shareholders in Canada and the US feel that this is not in the best interest of HRT shareholders and could eventually lead to the takeover of the company by insiders at a price below the actual economic value of the company.
We request that you intervene on our behalf to stop this from occurring. I and other shareholders feel HRT has a huge potential for all stakeholders in the company, but the insiders are attempting to deny the shareholders the benefits of this, instead are trying to create a situation where faithful share holders will lose most of the money they have invested into the company instead of reaping the rewards I and others feel that company has the strong potential of giving all its current stakeholders.
The following is taking from a conversations with another HRT investor.
A reverse split to an O/S of about 10m would make the company
to illiquid for institutional investors so it would not be an attractive investment for them. Besides they have always had institutional interest in the company as a penny stock. I just finished talking on the phone with XXXXXX he agrees with me on what will happen to shareholders if the company gets to do what they want.
We absolutely do not want to have the removal of the poison pill
it is our protection against getting less then economical value for
our shares in the company. Removing it would discourage people from buying shares in HRT that includes everyone. Once you only have O/S of 10M, the insiders can easily manipulate the shares to a lower level, than go after all the remaining shares for far less than they are actually worth. MS represents one of their clients holdings in HRT, it could be the same for GS.
I strongly advise you to vote “No” on all items except for voting “Yes” for the moving of their office to a cheaper location.
The company is on the right track for a bright future for its stakeholders. But we must do all that we can to make sure we benefit from the bright future that HRT has. Unfortunately it is very apparent that the insiders want to deny us that.
REMEMBER MANY COMPANIES HAVE A POISON PILL
IN PLACE BECAUSE THEY WANT TO PROTECT SHAREHOLDERS.
WE MUST NOT LET THE INSIDERS REMOVE HRT’S POISON PILL.
WE MUST VOTE AGAINST THE R/S.. HISTORY HAS PROVEN IN
MOST CASES R/S ARE NOT IN THE BEST INTERESTS OF SHARE
HOLDERS.. MY EXPERIENCE IN THE FINANCIAL MARKETS
TELLS ME THAT THE R/S OF HRT WILL TURN OUT
VERY BADLY FOR SHAREHOLDERS OF HRT.
ANNOUNCEMENT OF CONVOCATION
SPECIAL SHAREHOLDERS’ MEETING
HRT Participações em Petróleo S.A. ("HRTP" or "Company") invites its shareholders to attend the Company’s Special Shareholders’ Meeting to be held, upon first call, on June 13, 2014, at 2:00 p.m., and if applicable, upon second call on June 24, 2014, at 2:00 p.m., at the Company’s head office, located at Avenida Atlântica, nº 1130, Entrada 1, with supplementary entrance at Avenida Princesa Isabel, 10o andar (parte), Copacabana, CEP 22021-000, in the City and State of Rio de Janeiro, Brazil, for the following purposes:
(i) To change the Company’s headquarters;
(ii) To ratify the capital increases in light of the exercise of stock options, in an amount equivalent to 4,335,996 (four million, three hundred thirty-five thousand, nine hundred ninety-six) new shares, in the total amount of R$ 11.420.758,80 (eleven million, four hundred twenty thousand, seven hundred fifty-eight Brazilian reais, eighty cents);
(iii) To approve the Company’s reverse split of common shares at the rate of 30 (thirty) shares for 1 (one), pursuant to Article 12 of Law 6.404/76, including the reverse split of Global Depositary Shares (GDSs) issued by the Company at the rate of 60 (sixty) GDSs for 1 (one) GDS, maintaining the same proportion currently in force of 2 GDSs to 1 common share;
(iv) To amend Article 5 of the Company’s By-laws, in order to encompass the new capital stock arising from the split of shares held on May 28, 2012 and the exercise of stock options mentioned in item (ii) above, as well as the reverse split of common shares mentioned in item (iii) above;
(v) To approve the amendment of the Company’s By-laws, according to the Management Proposal disclosed by the Company through CVM, SEDAR and the Company´s websites; and
(vi) To restate the Company’s By-laws.
Click here for the Announcement of Convocation.
Click here for the Management Proposal.
Click here for the Public Request for Proxy Authorization.
For additional information, please contact HRT`s Investor Relations Department.
Regards,
XXXXXXXXX
XXXXXXXXX
Gusgas aka buggati and Robinturd have to be the same poster. Surly there cannot be two psychotic individuals like that on the same discussion board. It is really a shame because he/they have destroyed the legitimacy of the Stockhouse HRT discussion board.
HRT Seeks Partners to Explore for Oil in Namibian Blocks
Taken from a May 13th post on SH's EOG discussion board
http://www.bloomberg.com/news/2014-04-15/hrt-founder-seeks-partners-to-explore-for-oil-in-namibian-blocks.html
VanWilder:
This indicates voting instructions must be in by June 11th. Taken from the doc link you posted
The Depositary has fixed (i) 12:00 pm (New York Time) on June 11, 2014, or (2) no later than forty-eight (48) hours (excluding Saturdays, Sundays and holidays)before the time of any adjourned Special Shareholders’ Meeting, in the event the Special Shareholders’ Meeting is to be held on second call, as the time by which written voting instructions must be received from holders of Global Depositary Shares.
Thankfully my money is spread over several stocks, so I can absorb the hit. In Canada a 10 to one reverse split is the norm, but in the US on the wild west OTC they can go as high as they want even 2000 to 1 or higher.
That is another reason why I am so proud to be a Canadian, that according to the New York Times has the richest middle glass in the world. A well regulated financial system a caring society with government Medicare for all it's citizens.
I have been around the world twice visiting and living in the other so called high living standard countries in the world. Soon I will be back in Europe travelling and as expected feeling how very lucky I and my family are to have been born Canadians.
I have been to Africa, Asia and the Middle East, Central and S. American Brazil "WOW" the things you see in those countries. As I said before happy to be a Canadian.
I have never paid fees on TSX V.HRP shares.
The energy problems the world is facing.
http://www.onenewspage.com/n/Markets/750fzm0i4/Russia-And-The-Ukraine-%E2%80%93-The-Worrisome-Connection.htm
VanWilder not only does DrillaHill make a big contribution to this board so do you. Speaking on my behalf and others, thank you very much for keeping us informed on the prospects for HRT.
GusGold:
Another typical post from you with a negative slant to it, trying to cover it up by saying what you feel would be a good business model. On that point could you post an example that led you to this conclusion.
"I second that" we are very fortunate to have DrillaHill posting on this board. Unfortunately SH's HRT discussion board has been taken over by two individuals discouraging people from posting legitimate posts with their slanderous remarks.
BVE:
OGO put a teaser out and did not answer your question as to the name of the company. Just putting up a lot of meaningless nonsense. Which is very typical of him. What is the broken part "he is".
I was told by HRT's IR on Monday that they feel they will have ANP approval of the deal with the Russians in three months. The Russians are very anxious to get moving on the Solimoes Basin properties.
"Then let the fun begin," I agree an easy double from here on the way to much higher levels. We have the right management to make this happen. Be patience they want to make the best deal possible when it comes to Namibia, In the meantime they will get to ride on the back of any drilling successes in Namibia this year.
4,757 bbl/d to HRT is a good starting point for the company. Even though I said I had reached the amount of shares I wanted in HRT I could not resist buying more (HRT) HRP GDS's for CAD.15 on Monday.
I have been feeling very good for a number of days due to the fact I am seeing the sight of green on my portfolio of stocks. My patience in my holdings is proving itself once again, and I feel HRT will not be an exception.
Operador Petróleo
HRT O&G
7.928 (bbl/d)
(Gás Natural(Mm³/d)
25
Produção Total boe/d)
8.086
These numbers are barrels per day.
Brazil ANP Volume Link
http://www.anp.gov.br/?pg=69700
Rzbern:
I have own shares in a lot of companies and HRT is the most transparent I have ever held shares in. They have always been quick to release press releases. It is quite understandable discussions between two shareholders like JG and Discovery would not be released to the public. They came to an agreement which settled the matter between them. It is finished with "time to move on."
When there is news of significance HRT will release it. While in any negotiation regarding deals with other companies they say nothing because it can interfere with the making the best deal possible. This as always been the case with other companies I have and own shares in.
Most of the companies I have shares in rarely release press releases unlike HRT, except quarterly reports, I am looking forward to the day when that is all HRT needs to do to satisfy it's shareholders.
GusGold stated he would like to see you elected to the fiscal council so as to be a thorn in Nelson Tanure's side. You are proving this by your posts on SH & IH, that is not who I want on the fiscal council.
There is certain protocol a director must follow, you have shown on your posts that you are not worthy of been one. I know what I speak of since I have been a director of two companies voted in by minority shareholders.
Rzbern you have lost the election time to accept the fact and leave well enough along. If there were irregulaties let the CVM take care of it. and let the new managment of HRT carrying on running the company. The more you post on SH and IH the more my friend I with a very signifigant amount of shares in HRT GDS's feel we did the right thing in not voting for you for the fiscal council.
This company is on track to succeed and does not need a miracle to do so only patience from investors to reap the rewards I feel are coming.
Regarding the amount of cash behind each HRT GDS share.
If HRT does end up with a cash balance of 400 million BRL according to the article. If all HRT shares were GDS's their O/S would be 594.8 million. When you convert the expected BRL cash balance into US dollars at the current exchange rate of .45 BRL to the US dollar. HRT's expect cash balance would be 180 million US dollars. Which when divided by 594.8 million GDS shares would mean that HRT's cash behind each GDS shares is 30.25 US cents. So the shares are trading significantly less then cash value.
The latest post that GusGold aga Buggati has posted on SH.
http://www.stockhouse.com/companies/bullboard/v.hrp/hrt-participacoes-em-petroleo-sa?postid=22519609
Yes Robnhood is and he is posting the same way as he posts on SH. Same goes for GusGold. It seems that whatever comes into their heads they have to post it. Pitifully they have nothing else to do but knock HRT and it's management which they have been doing for months.
UNX a pump and dump scam!! I don't think so, I road UNX from a penny stock till it was taken over by HRT and sold the HRT shares I received for around $5.50, even though I did not sell HRT near it's peak I still made out like a bandit. What a winner UNX turn out to be for me and patient investors.
Now I am back into HRT big time, even if it turns out I am wrong to have done so, I will still be ahead if I take into consideration the money I made on UNX.
I was told by IR of HRT that they have been looking at farm in deals for Namibia but they haven't come up with one that they want to make. I also read that MM was working towards the goal of making a deal for 2015.
I don't know what the complains are all about regarding the proxies. I received two weeks ago in the mail proxies for the bulk of my shares and last Thursday for the remainder. Fax number and email address was printed on it. Also Fax numbers and the email address could be found on HRT's web site. Upon receiving it I immediately fax it.
It seems to me that those who are complaining now about sending proxy problems are the same ones who ask for the fax number on IH which both Renzo and I posted. The fact that item "5 was defeated indicates to me that a fairly large percentage of minority investors voted, so I feel Renzo does not have a leg to stand on to get the vote declared invalid another be carried out.
I like the fact that both GS and MS have major positions in HRT. Peter Munk is stepping down as head of Barrick Gold Corp handing the reins over to Mr. Thornton a former Goldman Sachs president. Mr. Munk received a lot of criticism for giving Mr. Thornton a US$12-million "signing bonus.
If you want to see a resource company get traction you do not want a geologist heading it but a financial one and a good one does not come cheap.
The fact that Goldman Sachs, Morgan Stanley and financier Nelson Tanure have taken significant positions in HRT. Is the reason I have being buying shares in the company lately.
I do not know how successful the drilling in Namibia will be this year wild catting is a very risky business. Companies drilled over 100 holes in the North Sea before the Norwegian were successful in 1969. That goes for a lot of areas in the world, after a lot of drilling in Kenya only recently has a commercial discovery been made.
My hope is that technology has advanced enough that it will take far less drilling to have to take place before oil is discovered in Namibia.
A friend of mine and I have a very significant amount of shares in HRT, we did not see a benefit in voting for Renzo, so we did not.
It refers to March 31st News Release.
http://ir.hrt.com.br/hrt/web/conteudo_en.asp?idioma=1&tipo=32124&conta=44&id=190579
NEWS RELEASE
TRANSACTION TO QUIT AND PREVENT LITIGATION
Rio de Janeiro, April 29, 2014 - HRT Participações em Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP), in addition to News Release dated March 31, 2014 announces that entered into settlements (i) on April 09, 2014, with Mr. Edmundo Falcão Koblitz; (ii) on this date, with Mr. Marcello Joaquim Pacheco; and also (iii) on this date, with Messrs. François Moreau and Oscar Alfredo Prieto; in order to quit and prevent litigation involving the Company the aforementioned persons ("Parties") in respect to the respective relationships between the Parties ("Agreements").
Pursuant to the terms and conditions of the agreement entered into with Mr. Edmundo Falcão Koblitz, he formalized such occurrence in the competent jurisdictions, with the consequent withdrawal of (i) Injunction number 0069996-92.2014.8.19.0001, ongoing in the 4th Business Court of Rio de Janeiro approved on April 09, 2014, and (ii) Interlocutory Appeal number 0012986-93.2013.8.19.0000, whereby on April 11, 2014, Court of Appeal Judge. Henrique Carlos de Andrade Figueira, denied appeal filed by Mr. Edmundo Falcão Koblitz on the records of the referred appeal, so far in course in the 5th Civil Chamber of the State Court of Appeal of Rio de Janeiro, considering such appeal without grounds by the sentence for the dismissal of the injunction.
Additionally, (i) the Company and Mr. Marcello Joaquim Pacheco filed on the date hereof a joint petition stating the withdrawal of demands regarding Case No. 0076438-74.2014.8.19.0001, currently pending before the 5th Business Court of Rio de Janeiro, and (ii) under the terms of the other agreements entered into on the date hereof, the Company clarifies that the Parties agreed that any eventual existing demands in which the Company is a plaintiff or defendant should be terminated, in order to avoid further expenditure of Company’s resources.
The Parties have ended their relationships, granting each other wide, general and unrestricted discharge regarding any claims in respect to the relationships previously held, having the agreements entered into with Messrs. Edmundo Falcão Koblitz and Marcello Joaquim Pacheco being subject to the shareholders’ approval in the Shareholders’ Meeting.
Click here for the News Release.
For additional information, please contact HRT`s Investor Relations Department.
This board recently is starting to read like SH with all this POS etc. posts, and the two dominating posters on SH have gravitated over here.
"You have a point, but so what as far as I am concerned" I trade on the TSX and I seldom check Brazil. The important point I was making in my post was you can be very sure that MS & GS are not trying to manipulate the shares down.
I am quite sure Nelson's JG Petrochem would love to pick up shares at current prices, if it wasn't because of HRT's poison pill. If they really wanted to move in the direction of taking over the company this would be the best time to do so.
If in fact MS & GS felt that Nelson Tanure's company had any thoughts of doing so they would be working HRT's share price higher.
"No way" in my opinion the volume has been to low, I have up to today been on the buy side and it is not easy to pick up a significant amount of shares near the lows.
If there is going to be manipulation from GS & MS it is going to be to move the stock higher.
As the saying goes when there is blood on the streets that is the time to buy. In this bloody situation for HRT shares, I bought more today. These low prices have had a significant effect on my average share price.
I cannot see the justification for the shares falling to current levels. In any case I am done adding to my position. In spite of the current HRT share price I am satisfied with my average share price and see no need to lower it further.
Rzbern:
You do make some valid points, I just want the infighting to end and this to be the last proxy vote for sometime and that HRT gets onto the business of building a lean successful company.
I have shares in about a dozen companies and in my mind I feel that their executive compensation is excessive. HRT has been no different. It appears to me that the company now realizes that.
I am not bothered by the fact that they recommend candidates which has been the norm in other companies I have and hold shares in.
Nevertheless due to the performance of HRT shares I feel you have a very good chance of getting the majority of the votes from the minority shareholders. Unfortunately for you the large holdings of the big players would indicate you will not be successful in achieving a seat on the fiscal council.
I feel you have achieved an important goal of making the company more aware of the concerns of the minority shareholders that they want addressed.
For that I am grateful for your efforts.
Rzbern:
I had no difficulty finding the new revised proxy in HRT's web site, following the instructions laid out by the company. If you had difficulty, I have to question ( and other statements you have made ) how beneficial you will be on the fiscal council for me as an HRT shareholder.
GusGold:
Very easy to find for most investors.
http://ir.hrt.com.br/hrt/web/conteudo_en.asp?idioma=1&conta=44&tipo=32113
IR Download centre
Scroll to voting instructions either for Canada or US click onto download then print proxy.
In the US the fax number is (905) 507-7793
In Canada the fax number is (416) 368-2502
I will certainly be looking forward to confronting him and not comforting him as mistakenly stated in my last post.
I am so angry over this I misspelled Buggati. I am really looking forward to comforting him.
GusGold aka baggti on SH:
I will take no more of your lies, I meant everything I said on SH, I will fly to anywhere you live in Canada or pay your flight to where I live including your accommodation all this and terms can be arranged through private messages. Certified chegues will be deposited with the selected Lawyer.
http://www.stockhouse.com/companies/bullboard/v.hrp/hrt-participacoes-em-petroleo-sa?postid=22493457
GusGold:
You have apparently lost your mind, you really are suffering mentally and should seek help. I really PITY YOU for all you have gone through as a stock market investor.
For your own mental well being you should stay away from discussion boards and liquidate your stocks.
GusGold aga Barrati on SH:
"I said it appears I am the last man standing." Don't understand how I could possibly have misspelled pity, what a pity that was. Save your vulgar comments for SH they are not acceptable on IH.
Powerwalker:
I believe you could be right in your interpretation of the two News Releases. In any case their involvement in HRT I see as positive for the company.
Powerwalker:
I have been a bottom fisher of stocks for years as is the case with HRT. It takes patience but when they move it can be quite dramatic as what has taken place in two stocks I pick up over time and recently really took off rewarding me very handsomely for my patience and I feel HRT will be no exception.
It appears I am the last man standing with money to spend and the rest of you are spend out with no bullets left. What a petty.
You are right robnhood I bought more HRT this morning and still bidding for more. My oil portfolio has given me a very good month, and HRT is given me the opportunity to buy a company at very undervalued prices, I could not be happier.
The only HRT investors who should be unhappy are those unable to take advantage of current low prices.