27/10/2021

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

1 min read

Dawood Patel, who has a £60,000 stake in Aim-listed Bacanora, explained: “We have tried out to get in make contact with with management but have been brushed off. The announcement acknowledges us without the need of executing so straight.”

Nonetheless, Metropolis procedures say that 30pc of the shares require to be managed by a group for a concert bash to exist.

As the compact buyers are not breaching the 1pc personal shareholding threshold they do not require to declare their stakes when they trade shares.

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

Ganfeng already has a 17.5pc stake in Aim-listed Bacanora, which it already strategies to raise to 30pc. 3 weeks ago the corporation unveiled a non-binding sixty seven.5p-a-share solution in May perhaps, which the board explained it “would be expecting to recommend”. It has till June three to desk a official give.

Little buyers, having said that, declare Bacanora could be truly worth 500p a share.