Hurricane's core business is the exploration, appraisal and development of hydrocarbon resources from fractured basement reservoirs. For further information, see About Us.

For details of each of the directors and their responsibilities, see Board.

The composition of the Board's committees are outlined on the governance page. The terms of reference documents, outlining each committees’ responsibilities are available for download below.

Remuneration Committee terms of reference
592KB
Audit and Risk Committee terms of reference
163KB
Nominations Committee terms of reference
157KB
Listing and Governance Committee terms of reference
148KB

Hurricane is a member of the Quoted Companies Alliance (QCA) and, in the past, aimed to comply with the QCA’s Corporate Governance Code for Small and Mid-Size Quoted Companies. In 2017, given the Company's size, the Board decided to follow the principal provisions of the UK Corporate Governance Code 2016 (the “Code”) on a comply or explain basis, commensurate with the standards expected by stakeholders of premium listed companies. The Code and associated guidance are available on the Financial Reporting Council website at www.frc.org.uk.


The Board will assess its compliance with the Code on an annual basis and publish the status of its compliance in its Annual Report and Accounts. As at the date of this statement, 4 June 2018, Hurricane was in compliance with the provisions of the Code with the following exceptions (relevant Code provisions referenced):

 

  1. Hurricane has at least two independent non-executive directors, in accordance with the second part of Code provision B.1.2, as applicable to smaller companies below the FTSE 350 throughout the year immediately prior to the reporting year. However, Hurricane does not comply with the remainder of Code provision B.1.2, applicable to larger companies, which requires at least half the directors to be independent.
  2. Hurricane has at least two independent non-executive directors on each of the Remuneration Committee and the Audit and Risk Committee and therefore meets Code provisions C.3.1. and D.2.1., as applicable to smaller companies below the FTSE 350 throughout the year immediately prior to the reporting year. However, Hurricane does not meet the full Code requirement for larger companies that these Committees should be made up of at least three independent directors each (Code provisions C.3.1. and D.2.1.).
  3. The Nominations Committee does not consist of a majority of independent non-executive directors (Code provision B.2.1.). Currently, only one-half of the committee is comprised of independent non-executive directors. Hurricane is assessing its board composition, including the potential appointment of new independent non-executive directors, which would resolve this non-compliance.
  4. Hurricane does not comply with Code Provision B.7.1 by subjecting all of its directors to annual election by shareholders. The company currently offers its directors for re-election by rotation in accordance with its Articles of Association every three years, on the basis that at least one-third of the directors in number must be re-elected every year. Going forward this re-election process will be kept under review and should Hurricane move to a premium listing it will be reviewed again in light of the company’s new obligations.

Hurricane Energy plc is registered in England & Wales, reg no: 5245689. The main country of operation is the UK. As we are incorporated in the UK, the rights of shareholders are governed by English law.


Hurricane is subject to the rules of the UK City Code on Takeovers and Mergers.
 

Our current constitutional documents are available on the Corporate documentation page.

Hurricane's Ordinary Shares are admitted to trading on AIM, the market of that name operated by the London Stock Exchange. There are no restrictions on the transfer of securities.

Hurricane's 7.50% convertible bonds due 2022 and issued on 24 July 2017 are listed on the International Stock Exchange, the market of that name based in the Channel Islands and operated by The International Stock Exchange Group Limited. Further details are available on the Convertible bond page.

You can view and download a copy of our AIM admission document here.

As at 25 January 2019, the number of ordinary shares of £0.001 each in Hurricane Energy plc in issue was: 1,960,367,219.

The percentage of securities not in public hands was 23.36%.

 

Significant shareholder Number of Ordinary Shares Percentage of issued share capital
Kerogen Investments No. 18 Limited 428,531,211 21.87%
Pelham Capital Limited 121,875,000 6.22%
Crystal Amber Fund Limited 92,248,582 5.01%

Last updated 7 December 2018

For all notifications made by us in the past 12 months see our Regulatory News Service.

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Nomad and broker

Stifel
150 Cheapside
London
EC2V 6ET
T: +44 20 7710 7600

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Joint broker

Morgan Stanley
20 Bank Street
Canary Wharf
London
E14 4AD
T: +44 207 425 8000

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Solicitors

Dentons
One Fleet Place
London
EC4M 7WS
T: +44 20 7242 1212
F: +44 20 7246 7777

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Auditors and reporting accountants

Deloitte LLP
2 New Street Square
London
EC4A 3BZ
United Kingdom
T: +44 20 7936 3000
F: +44 20 7583 1198
www.deloitte.com

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Independent Competent Person

RPS Energy Limited
14 Cornhill
London
EC3V 3ND
T: +44 20 7280 3200
F: +44 20 7283 9248
www.rpsgroup.com

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Registrar and receiving agent

Computershare Investor Services Plc
The Pavilions
Bridgwater Road
Bristol
BS99 6ZZ
T: +44 870 7071733
E: web.queries@computershare.co.uk

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PR and communications advisers

Vigo Communications
Sackville House
40 Piccadilly
London
W1J 0DR
T: +44 20 7390 0230
E: hurricane@vigocomms.com