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Yes, Yellow; the following two purchases may be made by the same one (possibly Polygon; or better any one with some info), at near same time, and paid 0.02p higher than asking price:
10-Feb-20 17:11:18 5.485 31,385,533 Buy* 5.45 5.465 2m O
10-Feb-20 17:11:17 5.485 7,565,190 Buy* 5.45 5.465 414.95k O
Bonus! bonus! For what? This guy is having a laugh.
I have been invested in this share for some 4 years, and sadly listened to the spill by Chris Fraser!! It is the shareholders who have financed this project to date, if I am not mistaken, to the tune of £1.5 billion. Anglo American should recognise the HUGE private investor participation (50 per cent) in financing this project. This will hurt private investors a lot more than INSTITUTIONAL investors. They can see the HUGE potential rewards in this mine, making £billions every year!! . . . and they are not willing to reward investors 20p a share minimum. 5.5p such a derisory offer! The mine is in an advanced stage of construction. With the £billions of profit each year, would easily pay off the finance required to complete the project, and pay a dividend in five years. THINK AGAIN ANGLO AMERICAN!! Why is it not possible to reward shareholders with shares in Anglo American. How can they hold their heads high in Yorkshire with so many massively out of pocket! Shareholder MUST INSTRUCT their brokers which way they would like to vote. I will be instructing Halifax with my NO vote because MORALLY they cannot be seen to drive shareholders out of this project. I have in excess of 1.3 million shares. Sirius Minerals BOD have not taken the interests of shareholders seriously enough. YOU MUST DO BETTER. The imminent vote is determined on the number of shares an individual holds, mine being 1.3million 'NO' votes! This company is owned by the shareholders. Hopefully enough institutional investors vote NO and force a boardroom shake-up. Come on Rio Tinto, BHP or Glencore show hand and make a bid!!
Hi Fred -
Take a look at this extract from author Michael Taylor’s no-nonsense January blog on his ‘Shifting Shares’ website. This is a professional investor’s view on the current situation.
It captures what most of us are thinking in a nutshell….
‘Anglo American has come in with an all-cash offer of 5.5p per share for Sirius Minerals’ stock. This was at a premium to the previous close of 4.1p, and in reality a higher premium if we ignore the fact that blatant insider trading was going on, with Sirius Minerals’ share price rising on heavy volume into the close.
Given that the company raised more cash from private investors at higher levels, and was trading above 20p earlier in 2019, the share price of 5.5p represents a huge discount to many private investors’ averages.
This is obviously not good, and many shareholders have been left feeling sold down the river. This is exacerbated by the fact that Chris Fraser has done and will continue to do exceptionally well out of the company.
Chief executive Chris Fraser, who lambasted bulletin board users as “sitting in their basement in sweatpants” just does not care.
In 2018, Chris earned £475,000. He paid himself a bonus of £548,625.
In 2017, Chris earned £475,000. He paid himself a bonus of £332,500.
Even worse, he owns 1.77% of the shares- awarding him a further £6,819,855 at 5.5p. The vast majority of which he did not even pay for!
Sometimes, it is better to be the man at the top rather than the shareholder.
One has to wonder the likelihood of Sirius Minerals’ directors of achieving plum positions at Anglo American. Of course, nobody knows for certain – but if I was Chris Fraser I would certainly have explored those options.
So with in mind, here is one final question:
Is the Sirius board recommending the takeover because it is in the best interests of shareholders or is the board recommending the takeover because it is in their best interests?
Only thing I can think of is they are gambling on an administration.
Can anyone give advice on why as I am not to clued up on short contracts sxx are still 2.13% can they not close their position?
IBAB - Do you know what that Company is for - is it the bonds, hence polygon
There will be people eyeing this from somewhere with enough money and sense to spot a bargain even at 15 p it’s a bargain for sure 5.5 p is a cheek and no one in. Their right mind should consider that paltry offer it’s a disgrace any one is. CF is only urging people to do it to line his pockets faster
Joke absolute joke
Sorry I meant every body excluding the people who provided the means without which it would never have got this far and who should despite the arrogance of the AAL COs comments have been offered an olive branch.But sxx has always been capitalism in its raw form in fact it should be included in any business school curriculum it's got the lot covering a wide spectrum of lessons
10-Feb-20 17:11:18 5.485 31,385,533 Buy* 2m O
every body will jump for joy
--- seriously poppop,,,,, everybody? Don't think so. I can count 85000 that wont be jumping, unless Fraser is underneath
Very. Well put fred, as normal , ill put it in a blunt northern manner , theres to many things that do not add up ere , and the bullshxt s stinking .
however you dress it up he failed and he let a lot of people down. I really don’t know whether he’s a nice guy who got unlucky or not but when that happens normally you get fired.
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exactly Fred. If he had any decency he'd pack his bags and leave Yprkshire.
But instead he's going to look after number 1, walk away with seven million and his job.
It stinks. It shouldn't ne allowed to happen. A NO vote could ensure it wont happen and may force him and his cronies to have one last stab at a raise.
It was plain from day one this management has handled the project so badly so financially inept so barmy why???.Who would drive a car at top speed at a concrete wall and that is what they have done why???.Every one in the city new it would not pan out.IF IF AAL go though with the purchase and they do not mothball it they will have been assured off line that they will get goverment cash in one form or anotherand every body will jump for joy.
AAL....... they are allowed to. More votes for them.
They are committed to buy this company, snapping them up at under offer price. No brainer
I was one of CF’s biggest fans but I have to say I feel incredibly let down by him. At best it looks like he got it wrong - misjudged things and wasn’t up to the job, he came with the best financial credentials and I for one had faith that he had the ability to pull this off. He’s let people down that were relying on him totally and maybe they shouldn’t have but the fact that many of them did means he must have sold it to them to make them feel comfortable in taking a bigger risk than they should have. He got paid a lot of money to do a difficult job and however you dress it up he failed and he let a lot of people down. I really don’t know whether he’s a nice guy who got unlucky or not but when that happens normally you get fired.
if it drops to 5.5p, I might be in. Otherwise I hope all of their mines flood and turn to ****
sn't there about 100k investors.
If we all coughed up an average of 5k wouldn't that raise enough for them to continue the project? Surely that's better than 5.5p a share
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correct (plus or minus) but according to historical data (cough cough) JPM our financial adviser )cough cough) and the BOD (the ones stepping in to jobs at AAL and 19M quid bonus pot to share and Frasers 7 Million payout) - the ones who screwed up stage 2 - think it's not a realistic or viable option
But we'll never know cos they never tried.
Hi Throbber CF has had his pants pulled down by JPM and gang, simples. ATB Speedy
Isn't there about 100k investors.
If we all coughed up an average of 5k wouldn't that raise enough for them to continue the project? Surely that's better than 5.5p a share
Since october last year, he could have cancelled jpm.,or re tried the bond market s. He could have tried another OO. December consurtium offer , january consurtium offer, no we will not bother , lets carry on regardless and sell it for pennies .and the mans not been seen in yorkshire since before christmas , turn it in
To see who’s bought £2 mi worth. After trade.
Even 'mr loophole' as he is known to the rich and famous who employ him wouldn't be able to get CF off these charges.
Wonder if they will go under a price support of 2000p it's a psychological one as well as financial if I was cf sweat would be starting to drip.Seems AAL sh not to sure it's a pot of gold.-10% in weeks and a world economy on the skids.
Aww, poor CF only getting away with 7 mill, excuse me if I don't feel sympathy for him, he has shafted genuine, loyal LTH's to the tune of thousands and thousands of pounds, he was either corrupt or inept, either way it's the same result for LTH's here!