What does HCI’s Impact oil deal really mean?
Sadly, it does not imply a bumper dividend for shareholders or a radical haircut of its debt. But the investment company says the long-term payoff could be substantial
18 January 2024 - 05:00
Shareholders in Hosken Consolidated Investments (HCI) are no closer to the cash payout they seemed to be banking on, and HCI is no nearer to cutting its weighty R2.7bn debt.
That’s because an expected windfall from the sale of a chunk of its oil and gas exploration interests has been displaced by a longer-term participatory arrangement and only a partial sell-down of these assets...
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