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Very impressed with sharesocs letter , the response could be interesting
It’s a brilliant letter - being a Sirius shareholder is one of the most difficult things I’ve ever done - thought it was easy at first! - but at this point faced with what we’re facing thank goodness for ShareSoc! Not being funny but if you feel like I do at the moment - join!
Sounds good lots of good stuff on there and you can see the letter that has been sent to Sirius - it’s very well written and will make them think!!
I am out of the country but will join next week on my return
Have you joined ShareSoc John that’s a hefty total to add weight to those who have joined and continue standing up to the company
...in that case Why not run down the clock and pick it up 'flatpack' for even less!?(Not my prefered term). Why even bother to make an offer.
Just to clarify
I AM NOT A aal SHAREHOLDER
brickroad
nice post thank you '
especially the last three lines
ffc
I thought that too shoelord but we must remember their comments are for their own shareholders too ?
As a shareholder in aal I would need to here the positives ???
ffc
1 thing I don't understand is why Anglo is bragging so much about how good of an asset Sirius is. If i were in their shoes, I would keep quiet and play down the projects potential to avoid further bids. It's like they want to be challenged?
Remember that Polygon have an associated company Hawkes Point focused on mining. If only we knew further details of their motives.
https://www.tetragoninv.com/portfolio/tfg-asset-management/hawkes-point
Also may be irrelevant however I have testudines Monday’s RNS, the comments from Scrimmy include quite a few lines to suggest they have not 100% ruled out other firm offers, assuming they materialise.
May be a long shot, however suggest people re-read the RNS in full......
“we have to date not received a firm proposal for a partial Project stake.”
“the conditions attached (of debt proposal) are not acceptable in their current form”
“Following the strategic review process it is clear that no such options are currently available to us”.
Illbetabuck yes your correct , cdf's don't hold a voting right but it seems polygon know the rules more than me, possibly they know a work around to this. Like I said they seem to have done this before. They will try and increase the bid by ALL or try again with the consortium either way I seem polygon as an allie.
Fastjet thanks very much , I'm finding the more I learn the harder it gets to form an opinion sadly !
Shoelord I hope you are right , for me the perfect result would be re-engaging with the lending consortium !!
Can't quite work out why that is not possible and I believe it's B S to suggest administration if we overturn the aal offer
100 years of serious profit down the pan ? give me a break !
ffc
Yellow
wtfdik
BUT if they were to vote NO ????
surely they are in a better position than you or I to know and would not risk administration ? as far as I know they are no longer short here ???
ffc
This isn't polygons first rodeo I found this on Google below. From my understanding they are building a stake through cdf's to challenge the offer by ALL and the board's decision to accept it - the board doesn't really have a choice since no other firm offers have been offered other than the 680 mill offer from the consortium. In my opinion polygon may ask the details and try to re-enage with the consortium and hopefully come to some agreement with the BOD. If this plays out polygon will thrive on the increase share price and so will all us shareholders.
Please read page 78 - 80
https://books.google.co.uk/books?id=-RDcBAAAQBAJ&pg=PA77&lpg=PA77&dq=polygon+takeover+strategy&source=bl&ots=Ti6fXAFLx4&sig=ACfU3U05t28suBRF_QpNBKSDgPSJdgczGg&hl=en&sa=X&ved=2ahUKEwiWgImcwp7nAhXHiFwKHS94Dyg4ChDoATAAegQICBAB#v=onepage&q=polygon%20takeover%20strategy&f=false
I have 6 million with a no vote attached to them & holding to see how this plays out !
ffc - so does that increase the risk of insolvency for us?
15LIVES - last Fri I bought back up to my lucky no but don’t tell IBAB!
would be nice to know Yellow ?
IF those shares all carry a vote ? is it over 7% they hold ? It's a good amount of the 25% needed to stop this that's for sure
So does anyone understand what Polygon are doing it for - and
What could it mean for us as shareholders??
Fastjet
I hope you're right as I too had them down as a positive ..
I've said this before but it would be nice if an Institutional Investor published their intentions ?
I know he's a marmite character but Neil Woodford was often prepared to show his hand in advance of a vote like this ?
ffc
Fred
As IBAB states they are illegal in USA
A bit like shorting is in Germany.
Oh to live and invest in Germany!
Fastjet
Any chance of a link please?
I've found the strategies page and it mentions piggybacking but can't navigate any further ??/
ffc
We have just signed up our 200th Sirius shareholder and they are joining the SSSG at an increasingly rapid rate. Pressure from the Daily Mail for Anglo to consider options that keep shareholders engaged https://www.thisismoney.co.uk/money/comment/article-7922163/ALEX-BRUMMER-Sirius-Minerals-backers-shares.html
Letter sent to Sirius Board of Directors requesting a meeting and further information. To see the 5 page letter go to the ShareSoc Sirius Forum page
https://sharesoc.ning.com/forum/topics/sirius-forum?id=6389471%3ATopic%3A55602&page=18#comments - sorry, but you will have to be or join as a FULL member to see this.
Request sent in to Anglo for a meeting to discuss individual shareholders concerns.
All Sirius shareholders are encouraged to join the SSSG by going here - https://www.sharesoc.org/campaigns/sirius/
and to join ShareSoc as a Full member https://www.sharesoc.org/membership/full-membership/
Best wishes, Cliff Weight
Fred
Now could be seen as a good time to buy of you believe AA shall end up buying them back off you for the same price but there is the chance another bidder may counter bid.
You're then just losing dealing costs on that gamble as I see it.