Member Info for ALB1

Hereshopin, I have never seen a bid for a coy come in at a 400% premium!... However Benamor is looking at float price on a judicial.

Assuming only, there is an interested buyer (which at these SP levels I could see). Where does the BOD sit with recommending any offer.
i.e Benamor's 60% holding can surely veto any deal,, or am I wrong. If so what's the current thought process of the BOD in continuing the fsp?

Even if a bid did arrive which would not surprise me at these levels, then Benamor our 60% holder can block any bid. So what's the point of a FSP if Benamor is going to be an obstacle ? we shall see. But as we wait the SP will tank further making a judicial review (Benamor option) the likely outcome.

What gets me is the fact he denies an RNS from last year stating he wanted out and was a willing seller of his 60%. Bizarre, it's obvious he is now creating issues and probs because he wanted in excess of £1 per share if sold, now not achievable he is trying it on saying close shop and seek redress. Probs now is the way forward , I doubt any one will bid and even though mow cheap as chips surely any bid would require his approval as a 60% holder. BOD need to sort this confusion out and what they are doing going forward ASAP.

Well, he certainly has caused mayhem. May attract a bid now though.

Hang in there all,, you have 5.5p, may get a better offer..

Henry Steel, portfolio manager at Odey Asset Management, said a bidding war could now start for Sirius.

“Now comes the fun part where we wait and see if Cantopex [a group of Canadian potash producers] or the Belarusians turn up to take control of this project. We could end up in a bidding war.”

(Sharecast News) - Sirius Minerals said on Tuesday that its shareholders have voted in favour of Anglo American's ?405m takeover, safeguarding its North Yorkshire polyhalite project.
Sirius chairman Russell Scrimshaw said: "The positive outcome from today's meeting secures a return for shareholders and provides greater certainty in terms of safeguarding the project, protection the jobs of our employees and allowing the community, region and the UK to continue to benefit from the project."

Anglo agreed in January to buy Sirius for 5.5p a share. Sirius has since urged its shareholders to accept the deal, arguing that without it, the company could be placed into administration.

Rumour in the city negotiations with ODEY on going to secure a vote, ODEY want a better offer to secure a yes.

Anyone know if Iunch is provided at the meeting

Current total £470!!... Don't see the saviours name Odey on the list though. £470, suppose will get you an afternoon lunch for the team... Madness!

Oh, that's ok then Odey's intention is to push the AAL offer from 5.5p to 7p , to make a profit on the back of 80,000 local shareholders who have supported the project with over £1billion !. Very sincere !

No point people on here giving Francesca a hard time and should refrain from doing. More important , Let's hope the No vote organisers haven't lost us all our remaining savings here.. the deal is the best we can get, if not why aren't Odey stumping up the cash to fund us! they have the money!. Makes you wonder what their real intentions are here.

Any ideas out there on the SP effect Monday morning. Have 120000 of these may just get out come Monday as 3p area speculated.

Exchanged in the last week alone..

In hindsight, they should have done a rights at 10p. Would of secured all. Screwed now so should just seek a buyer imo.

Colonel, they should look at the stated 'strategic options'' ASAP then.

Cheap T/O being worked here, assets & infrastructure all still there, cash cow for someone with money.

Out of this lot, who is ditching and who is buying more..

Major Shareholders as at 27 January 2020 % Voting rights
Standard Life Aberdeen plc 15.2%
M&G Plc 10.2%
Cobas Asset Management 5.0%
Lazard Asset Management 4.9%

Not dumped, sold to whoever is building a huge stake. Been going on a week or so. Timing is key here as once the II seller is out I bet a big rise is on the cards. Very undervalued now!.