September 22, 2023


Passion For Business

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

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

However, City guidelines say that 30pc of the shares have to have to be controlled by a group for a live performance social gathering to exist.

As the modest buyers are not breaching the 1pc particular person shareholding threshold they do not have to have to declare their stakes when they trade shares.

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

Ganfeng presently has a seventeen.5pc stake in Aim-shown Bacanora, which it presently designs to increase to 30pc. A few months ago the business unveiled a non-binding sixty seven.5p-a-share approach in May perhaps, which the board stated it “would assume to recommend”. It has till June three to desk a formal give.

Smaller buyers, however, declare Bacanora could be truly worth 500p a share.