Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Further correspondence received from HL this morning.
''Dear Mr XXXX
Thank you for your message,
Shanta Gold have issued us new communications detailing their AGM and ongoing takeover as a result we have forwarded these details onto yourself. This will invalidated your previous voting instructions due to the fact it constitutes as a new voting instruction.
The reason we cannot apply your vote retrospectively is due to any potential changes in each of the updates we are provided from Shanta.
I hope this has been of assistance. If you have any further questions, please reply by secure message from your HL account or send us an email. Please note that attachments we send will only be available to view on our website and not on the HL App.
Warm regards,
Alexander Wilson,
Hargreaves Lansdown''
The following is of concern:
'Shanta Gold have issued us new communications' and 'This will invalidated your previous voting instructions due to the fact it constitutes as a new voting instruction'.
Somewhat negates their RNS'd Claim that further voting is not necessary as previously cast votes will still be valid does it not?!
I'm currently awaiting a call back to discuss this further with my contact the Takeover Panel (but what good it will do I do not know?)
This whole process has been a utter sh* t-show from start to finish (and 100% intentionally in my opinion!!!) 😡
I can't believe how difficult this process is becoming. Suspect that there is a panic on now, that the vote may not go through. Perhaps there is overleveraging at play. I really hope that enough people have the courage of their conviction, to vote against this deal.
Fresh from 4.44pm:
Following our previous correspondence sent earlier today, please note that any voting instruction that was submitted for the previous meeting is no longer valid and will not be submitted at the new meeting. Please follow the steps below before 6pm on Wednesday 27 March 2024 to submit a new vote on the increased offer at the meeting on 4 April 2024.
Saturn Resources Ltd, a wholly owned subsidiary of ETC Holdings Ltd, have made an increased and final offer to buy Shanta Gold for 14.85p in cash per share. The court and general meetings have been adjourned.
Shareholders will vote on the takeover at meetings on 4 April 2024.
If the takeover goes ahead, you’ll get £ 29,700.00 your 200,000 shares.
I got the same.
Dear Mr Addison
Following our previous correspondence sent earlier today, please note that any voting instruction that was submitted for the previous meeting is no longer valid and will not be submitted at the new meeting. Please follow the steps below before 6pm on Wednesday 27 March 2024 to submit a new vote on the increased offer at the meeting on 4 April 2024.
Saturn Resources Ltd, a wholly owned subsidiary of ETC Holdings Ltd, have made an increased and final offer to buy Shanta Gold for 14.85p in cash per share. The court and general meetings have been adjourned.
Shareholders will vote on the takeover at meetings on 4 April 2024.
The words "court and general meetings have been adjourned" are misleading and I assume they relate to the previous meetings but I'm sure some may think they now only need to vote on the Extraordinary meeting.
Just received from HL at 4.44pm
''Your Shanta Gold shares
''Dear Mr XXXXX
Following our previous correspondence sent earlier today, please note that any voting instruction that was submitted for the previous meeting is no longer valid and will not be submitted at the new meeting. Please follow the steps below before 6pm on Wednesday 27 March 2024 to submit a new vote on the increased offer at the meeting on 4 April 2024.
Saturn Resources Ltd, a wholly owned subsidiary of ETC Holdings Ltd, have made an increased and final offer to buy Shanta Gold for 14.85p in cash per share. The court and general meetings have been adjourned.
Shareholders will vote on the takeover at meetings on 4 April 2024.''
So much for the RNS'd statement from Shanta regarding there being no need to recast our votes as previous votes will be valid! 😡😡😡
Received this response from HL concerning my enquiry as to why we have had to vote so many times.
Unless I've read this wrong, it appears that the requirement for us to have had to re-vote on numerous occasions has been Shanta led!!??
''Dear XXXX
Thank you for your message,
No, the takeover is happening between two companies which we are not a part of, we need to await updates from the respective companies before we forward them on to shareholder so they know how they are affected.
If Shanta have decided to postpone their AGMs and have also then subsequently requested new votes then that is their prerogative. Ultimately, we required 4 different instructions from yourself due to the fact we receive 4 communications, you need to ensure you are still happy to proceed based on each instruction as there could potentially be slightly different terms described in each of the votes.
I hope this has been of assistance. If you have any further questions, please reply by secure message from your HL account or send us an email. Please note that attachments we send will only be available to view on our website and not on the HL App.
Warm regards,
Alexander Wilson''
Does anyone else read this the same as me or is it just me? 🤔
Because the stock is up 50%+++ since last low and there are enough other opportunities out there ... and the AISC at New Liuka mine are on the rise every year ... i bought Shanta because WK and there is an high permitting risk ...
... this are my points pro takeover
Same for me so I have now revoted against.
Do you work for the Patels?
I have voted for the upteenth time on HL a resounding NO! to the sellout below value. What a scandal re voting opportunities.
There is serious upside potential in this stock in my opinion... why should existing , in my case long term, share holders miss out?
Only have 55k shares, but voted NO yesterday on all 3 vote forms. Every little bit helps.
Can confirm i had to revote 4 out of the 6 actions again today, are we in a monty python film? is Manuel from Faulty Towers running this whole vote scheme? who knows?
Incidentally, this has happened on both HL and ii.
Unbelievably, my shares plus family accounts appear to have had votes vanish so thank you to the various people on here who keep prompting us to check. Despite 'Instruction Given' notifications, when I clicked through each one, six had no response. I've voted 1,499,200 shares once again across family members. I've lost count of how many times I have done this - 4 or I think. I'll check again tomorrow.
Just emailed Questor the (rather long) email that I originally forwarded to the Takeover Panel.
What use it will do who knows, but then if you don't try?!
My partner has voted no so hope it helps gla
Barry5
Good e mail.
Can I suggest you also copy it to :
questor@telegraph.co.uk as they are interested in this kid of thing.
I will be contacting them as well.
My Message to HL sent a few minutes ago. Please feel free to copy and paste to motivate them to deal with this issue today.
URGENT
Good Morning, there are some very serious issues here as regards the voting for the three meetings taking place in early April. I have voted previously on all three resolutions and have retained email evidence of such and, indeed, the Shareholders meetings section backed that up.
Yet when I went into the Extraordinary and Court Meetings it stated that I had Not Voted so I have voted yet again and have again retained evidence of such.
I was alerted to this by a poster on the LSE Forum who drew attention to this. I and others are seriously concerned that investors holding shares through HL will think that they have voted but it seems that you believe that they have not. This seems to have the possibility of seriously impacting on the results of the meeting since HO is the largest shareholder in Shanta, holding nearly 12% of the equity.
THE CLOSING DATE FOR VOTING IS TOMORROW SO THIS NEED TO BE SORTED TODAY AND CLARIFICATION ISSUED.
Send details of any voting issues to the Takeover panel - I sent an email to supportgroup@thetakeoverpanel.org.uk
got a response asking me to ring them - Very helpful chap aware of the problems.
Completely non-event ..i will not vote.. just sit back and wait ;))))
Annie59
Thanks for the heads up as having just checked my account I too have "Instruction Given" on all three votes; EGM, Court and OGM yet having checked 'inside' the first two said "Not Voted"!! 😡
I have since corrected that (AGAIN!!) so anyone with HL please be aware and make sure you have all three covered!!!
This is incredible. I just checked mine as well and got exactly the same "Not Voted" on the Extraordinary and Court Meetings but "Voted" on the Ordinary General meeting despite having voted (and have retained email confirmation) of having voted on the other two already.
It just gets worse.
I too just received (finally) a secure message from HL re the "increased and final offer". I had already voted No to it last week. Thought I'd recheck my voting intentions as registered on HL and the top screen showed "Instruction Given" on all three votes; EGM, Court and OGM. Then thought, just best to sure, I'd check that my vote were still there (and still "No"!!) Indeed, for the last vote, OGM, it was. But the first two said "Not Voted", despite the overview page indicating "Instruction Given". I have just revoted across those earlier two votes....just in case.