May 18, 2024


The business lovers

Small investors battle China’s bid for London-listed lithium miner

Dawood Patel, who has a £60,000 stake in Intention-shown Bacanora, said: “We have tried using to get in contact with management but have been brushed off. The announcement acknowledges us without performing so specifically.”

Having said that, City policies say that 30pc of the shares require to be managed by a team for a live performance get together to exist.

As the modest traders are not breaching the 1pc specific shareholding threshold they do not require to declare their stakes when they trade shares.

A spokesman for Bacanora, which is acquiring a lithium mine in Mexico, explained the wording in the regulatory submitting as a “very regular clause in a takeover situation”.

Ganfeng presently has a 17.5pc stake in Intention-shown Bacanora, which it presently programs to enhance to 30pc. A few months ago the enterprise exposed a non-binding sixty seven.5p-a-share tactic in May well, which the board said it “would be expecting to recommend”. It has until eventually June 3 to desk a formal offer you.

Smaller traders, even so, assert Bacanora could be well worth 500p a share.