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I have just emailed the company at info@bacanoralithium.com
I am invested through Interactive Investor who send me notification of every time there are resolutions to vote on for my investments. The voting is done through the Interactive Investor website. It is a really good service.
Agree xtw2, though I stand by my 13.66% for M&G (post 9.36am)until someone tells me I'm wrong (warning: I have a Maths degree so i probably am!).
An interesting thought but given their position there is nothing to stop M&G increasing their holding substantially to ensure that they held the success or failure of the bid in their control. They could then either pressure GF into increasing the offer (to everyone except GFs advantage) or settle for the 17% tick up from 57p. Either way good for their investors.
Why have the recent funding when it was 64p, Ganfeng must have been advised to wait until the price falls back down to 40p levels which is what usually happens after offering a discount to investors by Primary Bid. If Ganfeng had wanted to buy before the funding it would have been a 50% increase on the 64p not 44p which would have been 96p. The funding cash raised wasn’t something Ganfeng required to progress with the build.
JBTs, please read the previous posts for your answer including mine at 20:38 yesterday with this Subject heading. We’re not day traders, we’re long-term investors who want a fair price for our blood, sweat & tears of investing our hard-earned cash here. Please vote against Ganfeng’s Offer.
I agree, 62% doesn’t make sense to me. Ganfeng 29.99% + M&G 15.87% = 45.86%. That only leaves 54.14% and much of that may be in institutional investors hands, but small enough such that they don’t have to disclose.
Why would you want to vote this down? If it succeeds that would be a 50% premium to the share price before the RNS. Please explain your thoughts. Thx
? Cant be 62% if GF have 28.8% and M&G have over 13% plus any smaller institutional holdings
Hi RedRoo, we need to make these no votes at the appropriate time. My experience with my low cost broker, iWeb, is that half the time I don't seem to be told about corporate actions. When McCarthy and Stone fell into the clutches of a greedy American Private Equity firm the first thing I knew that it had been passed was when I read it in the press!. You may need to pursue your broker in order to have your say.
I'm not sure of the significance of the June and December dates mentioned in the RNS, despite having read a couple of times. Anyone car to enlighten me?
Hi nomadicinvestor, how do you calculate that 62% is in private investors hands?
62% is in private investors hands, we can easily reject it as long as everyone votes.
Agreed, mrcautious. Ironically and somewhat hypocritically, President Biden has continued the hardline against China’s economic policies. But M&G is British so hopefully they’ll tow the UK line as laid out by IDS in the Telegraph article.
I am very angry at this offer. I will support any rejection of 67p. Please count 89000 vote as NO vote.
Hi Foz. I may seem a bit less excitable about this than others, but that's just born out of the best part of 40 years of hard earned and often very painful Stock Market investment (or gambling as I prefer to think about it these days).
I can assure you, and others here, that I will use my holding to vote against this at the appropriate time.
John
Fozdog - agree. The board have been taken for a ride here. Diluted shareholders multiple times on the cheap with Ganfeng conveniently following suit, while delaying the release of the engineering report, only then to low ball all existing shareholders out. My post below hopefully gives some hope in that we can get this rejected, even without the aid of II's. Private investors need to vote and stand up for ourselves when the board won't.
M and g holding is on Bloomberg and also the fund that it sits in recorded on their - the manager named of that fund is also on that, best I can provide.
62% are in public hands - so as long as 40% of private investors knock back the offer, it will be rejected. The issue is a lot of pi's don't always vote. I ran a poll on twitter which only received 50 odd responses but 85% said they would reject (acknowledge twitter users probably more likely to reject than the average pi).
M&G, Robeco and Hanwa have over 24% between them currently. Robeco on 5% and Hanwa on 3.7% will both likely reject. Hanwa will want to keep their foothold and Robeco are a sustainable investment vehicle looking at the future, they are long here. Big question is M&G. Given their backing for years, I would hope they feel that the risk has been lifted and they deserve a better return on their money.
John as much as wanting to keep it light hearted we have limited time here. Got about 3-4 weeks to get to point of special share holder meeting etc.
I have sweater and toiled for investment here, I supported at 15.3p during covid, Iv done nothing but support and feel badly treated. Like the placements timing and 3 month average price. They could have done this placement in Jan. Does it honestly sit right with you? It doenst me.
Well we need to find out where M&G stand. Anyone got an insider there or a decent contact?
Trouble is if M&G are FOR this deal we have probably had it !
Totally agree with this post !! People berated Trump saying he was a ****** for going on about China - but they are waging economic war against the west and this debacle is just that latest skirmish -- WE HAVE TO ACT TOGETHER TO STOP THIS
No prob xtw, just trying to keep things a bit lighter. I don't explicitly discuss figures but my holding is well into 6 figures. Of course I care, and people who have read what I have said on this board over the last year will, I hope, appreciate it. I just try to stand back and look objectively at situations
Yes, you’re right Fozdog, just checked again. It’s 15.87% on Form 8.3.
Ah, apologies, johnpwh, you’ve got serious again! Yours crossed with mine.
M&G’s shareholding is 17.86%. It says so on one of the Forms (8.5 or 8.3) yesterday.
Form 8.3 says m and g 15.87%