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Interesting.......Despite living in the south, I emailed my local Tory MP for his views on Sirius. I also emailed MP Northern Powerhouse MP, Simon Clarke(MP for Middlesbrough South).
My own MP replied saying he was less than happy with the situation, (an email I'm not allowed to make public, due to House of Commons regulations).
The MP for the area and Northern Powerhouse, hasn't even bothered to reply.
Suggest a few more people email this silent MP for his views as I'm assuming, (yes, an assumption), he doesn't give a toss.
If the vote is a big NO , what sort of time period to remove Fraser and is bod , can it be done , will people expect him to walk , as it got be done at an egm , if he goes soon as possible , will QiA, the consurtium , jupiter , polygon , step forward, if buts and maybe s i no , still stinks all the way down the east coast , the situation he as put this company in
RF, you must be one of the very few old posters left. Almost all have departed or passed away. I've been in and out of here for 10 years and worked indirectly for Sirius in the exploration drilling days. I felt that the then team were very personally and financially committed and though the buck stops with the BoD and CEO, I suspect that it is the greed of the 'money men' that have dragged them and us all down. I've taken some profits by trading and only my 'free' shares were left and sold, so I can't complain. Feel very sorry for those who put a lot or all of there investment in here, but from the start I decided not to put all my eggs in one basket.
It is still a great project on my doorstep and I hope that AA will will bring it to production for the sake of the local economy and UKplc. They did it for Boulby when ICI and Charter ran out of steam in the 1970s and will hopefully do it again. I doubt that there is any other option. Over and out.
My very best wishes to you and all here, R.
Been holding now for a couple of years - avg 25p
If it were agreed that the present bosses were not to gain their windfall from SXX or any future AAL shares or benefits and donated it all to some charity or investors who are deserved cases (disabled and such who have put their faith in the project) I might be more tempted to vote yes and take my considerable loss loss.
I hasten to add I`m not disabled.
We the investors have funded this venture.
I`m on the verge of voting no.
100% They know its not a done deal ...
Fraser will never succumb to administration,his nose is too far along the trough,dirty deals being done I really think the board should be voted out as we obviously cannot trust them they are out for themselves now and not working in the best intrest of the Shareholders US ,how can we trust them?? I cant belive they havent been booted out before laughable really.
Cranleigh - I strongly disagree with this statement - "I believe the result of rejection of the bid is most likely to be immediate administration and subsequent loss of all value for shareholders"
They have funds until at least 31 March. Why would administration be immediate? That rat Fraser would not kiss goodbye to his 7 million as soon as the judges gavel goes down on a no vote. He'd be straight on the blower to QIA. Odey also wouldn't be voting no if administration was immediate and, indeed, have speculated that an interloper is most likely to appear between the 3rd and the 20th., which strongly suggests administration, if it happens, will not happen immediately.
Just checked AJ Bell register each vote individually in my case no and no ! Oh well been a pleasure chaps,good luck in whatever you do over and out.
Been in since 2013.
What a future we could have had.
Hi Sheps. Hope you are still reading this Board and will pick this up. Looks like we are into the final Act now. Nearly all the old crew have gone, one way or another. Agree with all that your The Vote post said.
Mrs RF and I have just voted Yes- thought I couldn't do it but got an offer this am from the FCA administrators of SVS Brokers inviting us to register our vote- first class service, eh? Pity they won't let us sell any of our shares though, so we are going down with the ship if we do hit the iceberg!
Anyway, all in all it has been a real pleasure. I think you were one of the first people, many years ago, to offer support and consolation when I was chastised over one of my particularly offbeat posts. It was all rather more fun inthose days wasn't it?
Anyway my friend, as ever all the very best to you. RF and family.
Good luck Cranleigh
ffc
Not advice but....I have now, with considerable reluctance, sold the remainder of my holding.
Many can perhaps afford, either because they are very rich with a small % of their net worth in SXX or because they have only a small SXX holding, to express their anger through rejecting the AAL bid at the Court stage, where the number of holders voting is key.
I believe the result of rejection of the bid is most likely to be immediate administration and subsequent loss of all value for shareholders. I also believe the likelihood of a raised bid or a competing bid is too low to hang on for that possible upside.
With a large holding (until today) I simply cannot afford to have others cut off their noses to spite my face.
Good luck whatever you decide. I enjoyed the adventure, though certainly not the huge loss.
Depends how much you've bought for that 2p.
.2p is causing you angst? grow up!
You mean the families that would never have had that income in the first place if we had not used our hard earned income to create jobs for them? Please get into reality land. We are not a state benefits provider
First post on this discussion so be nice.
Firstly, deeply sorry and my heart goes out to those that have lost a lot, and can't imagine what it feels like. Hang in there and never give up.
So I've invested a few thousands (alot of my savings) in this stock, but in order to claw a fair bit of money back, I need to hit 5.40p and right now its at 5.20. Because the vote process starts next week and stock potentially coming off the market for that period (correct me if I'm wrong), I'm not sure whether to just keep the money in the share, or wait till Friday, see the share price and sell at a loss.
Any advice?
I understand everybody's position in this is different, but thanks for reading.
Ubderstand your thoughts 15lives .but he raised 330 million over subscribed in april . If he had explained the situation were we are now.the pi s would have backed him to the hilt ,, ps dont wont sympathy , article in times , i made the decsion .not bitter .just wont to no what the feckl as been going on behiind the scenes for the last 10 months plus .im no expert but read plenty and took the chance and payed my money, suspicious .conspiricay theorys , dame right .hellishly suspicious of the vote , the british stock market looks totally bent , for the big boys only
tasteforlife - this wasn't a gamble. It was an investment. It isn't a gamble for AAL it's an investment at a knock down price. The issue that many that invested that are wiser than me didn't see, was that the ex-banker would stuff up the fundraise so badly.
You - and others seem to think investing in AAL is a reasonable solution. But it's not. Sirius has a single asset - Poly4 - an organic fertilser. AAL is a conglomerate where Poly4 will be a very small fraction of the overall portfolio, a portfolio that includes all sorts of dirty businesses such as coal mines, a long way from an organic fertilser.
I have no wish to invest in polluting industries and, furthermore, there are many other businesses that will influence the future share price of AAL unrelated to poly4. Even if Woodsmith is successful that may or may not be reflected in AAL share price. AAL is not a good investment proposition for me, with or without Woodsmith in the portfolio. Not to mention I don't much care for their ethics.
Sheps, thanks for your input over the years, including this rational post. Best wishes.
Sheps - I’m sorry we are all in this position. Thank you for all your posts - it must have been very hard for you to sell. Everyone has to vote in the way they think best. Good luck.
dont understand a lot of people here making out they are victims, people lose money on the stock market all the time, it is a risk all of us take if investing, nobody forced anyone to buy in here...it was a gamble and we lost, I too like many have lost a fortune here... get over it, it happens ...whinging and putting the blame on others is futile, just sell up, take what you can and if anyone still wants to be a part of the mine going forward then just buy some shares in AAL...its as simple as that
Shareholders should review the situation, reach their own conclusion and vote accordingly.
Voting Process
Shareholders will vote at two separate meetings on 3rd March, the Court Meeting (held with the permission of the Court as part of the process of obtaining the sanction of the High Court) and then the General Meeting.
The vote at the Court Meeting (blue proxy form) is a simple FOR or AGAINST. Approval requires a FOR vote by at least 50% of voting shareholders representing at least 75% of the votes by share value.
Voting at the General Meeting (white proxy form) will consider two Special Resolutions, the first of which is the critical resolution giving effect to the Scheme. Shareholders can vote FOR, AGAINST or VOTE WITHELD. Approval requires a FOR vote by at least 75% of the votes cast.
Registered shareholders are entitled to attend and vote at the Meetings or to appoint a proxy to exercise their rights. A proxy need not be a Sirius Shareholder.
Completion and return of a Form of Proxy, or the appointment of a proxy electronically using CREST will not prevent shareholders from attending, speaking and voting in person at either the Court Meeting or the General Meeting if entitled to do so.
The Scheme Document advises those investors who hold shares as a bene?cial holder through a nominee, in order to ensure that they can attend and vote (in person or by proxy) at the Court Meeting and the General Meeting, to contact their nominee and ask to be entered on the Sirius register of members. Note: this will work for general investment accounts, but not for ISAs or SIPPs.
As an alternative, Sirius has confirmed that shareholders who obtain an properly prepared Letter of Representation from their nominees covering both meetings will be able to attend, speak and vote the value of their shares in both meetings BUT will not be counted as shareholders for the purpose of meeting the 50% of shareholders test at the Court Meeting. This glaring discrimination exposes one of the most fundamental flaws in the UK’s nominee system as currently operated.
ffc - I've already voted "no" through my broker, but I've also asked them to send me the documentation to enable me to attend and vote in person.
Pianista
This has been a long running saga here so with respect I can only tell you the facts as I see them
Two vote on the day as follows
Vote 1) is one vote per holder or platform with a majority over 50% needed
Vote 2) number of shares counted with over 75% yes votes needed for the takeover to be passed
ffc
ffc - I've been in touch with them several times....
From MailOnline, 24/2/20:
"Small investors could be blocked from voting on Anglo American's ÂŁ405m takeover offer for Sirius Minerals
Sirius has said it is important that 'as many votes as possible are cast' so that the ballot is 'a fair representation' of investors' opinion. But many backers hold their shares in nominee accounts through brokers, rather than owning them outright.
….platforms such as Hargreaves Lansdown will only count as a single shareholder when the votes are counted, even though they look after the stakes of many people via nominee accounts".