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Being a Chartered Accountant, I went back and read the RNS again because there were no deals at 151p on the 29th. The date of transaction is marked as April 30th. This could be the reason why he has resigned.

According to the announcement on May 1st 2024 he sold his shares on April 29th (Monday).

The announcement of an offer from Sidara was made on May 8th but it stated that the offer was received on April 30th.

Did he know the offer was coming? Was the offer actually received on April 30th and were the shares sold on April 29th?

Further to my message below, his remuneration arrangements are set out on Page 145 of the 2023 Annual Report. The report states, to cover what he has given in the RR incentive plan, value £1.5 million, he will be given a number of shares based on the average price of the first two weeks of April 2024., without restrictions from shareholders and performance requirements. The sale took place at the end of April. The share price had risen a bit in April 2024 but of course it took off the week after when the first bid was announced. He may be asked questions about the timing.

The announcement of the appointment of the now former CFO was made on November 1st 2023. That announcement ,

signed off by Group General Counsel and Company Secretary, stated that he was Chartered Accountant, and that his approval was subject to the approval by the Company's Shareholders at the Annual General Meeting . The AGM was held on May 9th 2024, and sure enough his approved. The CFO sold 633,788 shares of his entitlement on May 1st 2024., i.e. before the approval of his appointment. I am unable to find the RNS in April 2024 notifying the granting of options to him. This is like something one reads in the Slicker column in Private Eye.

That's right. Their entitlement is potentially another 8%.

Find it difficult to understand how the options were granted o quickly. Usually one has to wait a while before exercising them which does give rise to a tax liability. There are corporate governance issues here.

His LinkedIn profile shows him to be a CPA (Australia). His career experience is relevant (a lot more relevant than Rachel from accounts) and he's been with a number of blue chip companies. I think he's been thrown under a bus. Maybe the Barclays purchase came with strings attached. Truss survived Kwazi Kwarteng by a couple of weeks.

The final thirty minutes volume showed buys of 10.5 million ahead of sells of 4 million and another 1 million unclassified. It was the busiest half hour segment of the trading day. There were four individual buys of I million each at 16.11.

Still too much uncertainty.

No news yet.

Selling volume is apparently above buying volume, but I'm not so sure. Two trades of 768,359 at 14.00, another trade of 73,023 at 14.30 plus 36,653 at 14.33, all indicated as sells.

Should be issued later this week.

Last year this was announced on the 12th. So this year it should be on Friday.

Voting on the takeover is set for Feb 5th. Mystified at the 3% discount when there's only a month to go.

I haven't looked at this for a number of years but could someone please advise how they propose to move the iron from the mine to the port.

Next update due in first half of January.

Another offshore 5% holding declared.

New 5% holding down-under. Timing looks odd before Raquel spills the beans.

Thanks.

When Richard Griffiths sold some of his holding on November 29th 2019, there were 117 million shares in issue, and the market cap was in excess of £200 million. There are now 782 million shares in issue, and the market cap is less than £40 million.