Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
'No chance of increased offer'
Russell Scrimshaw says there is no chance of an increased offer
He says:
Investors have tried to get Anglo American to move but they have the leverage.
This is the only offer that’s on the table, that’s why we are here today.
Calls for 10p a share offer
Another shareholder, who says he’s an expert in agriculture and agribusiness has said Anglo American should pay as much as 10p a share, rather than the 5.5p offered, as that breaks down to the £1bn already spent on the project.
'Chief complainer' addresses meeting
The Guardian’s Rob Davies reports how Gavin Palmer of UK Shareholders Association describes himself as the “chief complainer”.
Chris Fraser tells him to “stick to the facts” before Palmer embarks on a lengthy speech.
Russell Scrimshaw says Palmer’s claims are “outlandish” and “without fact” and questions what his agenda is.
Alternative investor 'walked away'
Chief executive Chris Fraser said the board had been clear there was an alternative proposal , which they pushed ‘as hard as they could’ but it couldn’t be implemented and the investor walked away.
The man says members of the board need to be ‘removed’ and there’s clapping from the audience
Executives won't be removed
Russell Scrimshaw has rejected any plans to remove the firm’s senior executives.
He said:
No- because they are very capable people. We failed at the last step doing everything we can with some of the best advisors in the world.
Major national news
All the big national newspapers are at the meeting. The Times’s Emily Godson reports how Sirius’ chairman says it is “entirely incorrect” to think that Anglo will come back with a higher offer if the 5.5p-a-share takeover is voted down.
Future of executives questioned
The man has asked whether key members of the board chief executive Chris Fraser and finance director Thomas Staley will be removed for their ‘incompetence’.
Any II reps in attendance?
I have voted no - it was sarcastic.
I'm not there, but can someone please ask a question on my behalf;
"Why are we being asked to accept such a sh*t offer?"
Thanks.
Mr Scrimshaw has invited questions from shareholders.
The mood in the room is quite hostile, shareholders think the security at the meeting is overly high.
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I wonder why it is hostile....
From the feed;
Mr Scrimshaw said there has been a huge amount of misinformation circulating, abusive language and threats to members of the board.
Do we know when the result will be announced?
I am sure this has been asked, and probably answered before, but I cannot find it. Sorry for the duplication!
Well done Toonarmy...enjoy the retirement.
How are Georgeson getting contact information?
Do we have a definitive answer on what happened to IBAB?