- Bacanora has now been taken over by Ganfeng who have received acceptance by 90.3%
- We have achieved our objectives and the concerned investors were able to have their views heard, they met with management and an increased offer was made by Ganfeng (albeit it was only c 9% extra, and some campaingers wanted much more).
- The campaign has now concluded.
(Please note that the original letter was amended and clarified following conversations with The Takeover Panel.)
ShareSoc’s Bacanora Investor Group (BIG)
Bacanora Lithium (BCN) shareholders are asked to join ShareSoc’s Bacanora Investor Group (BIG)
- Join ShareSoc’s BIG
- Make a donation to ShareSoc to support our Campaigning Activities
ShareSoc has agreed to support BIG to help individual Bacanora shareholders to communicate and work together for the best collective outcome.
We have the following objectives:
- facilitating shareholder communication (both between themselves and with relevant parties)
- helping shareholders to review and evaluate their current situation and options
- acting as a shareholder voice to involved parties, to relevant bodies and to the press where appropriate.
The choices facing shareholders when it was formed were limited, and we can make no promises that its activities will improve or expand those choices.
Warning and a note of caution:
ShareSoc has to be careful not only to avoid making libellous claims, but also not to over-promise to shareholders about what might be achieved. It would be very wrong of ShareSoc to encourage irrational exuberance amongst shareholders. ShareSoc will do its best, but we will also continue to feedback to you our view of what we think can reasonably be achieved. ShareSoc’s role is not to raise expectations and we will not do so, even if some of our comments may not be what you want to hear.
Bacanora is subject to a possible offer from Chinese firm Ganfeng at 67.5p. The Takeover panel have issued a put up or shut up notice. A shareholder action group has been formed, with c500 investors who collectively own >8% of the shares.
– Introduction and Background to BIG
– Daily Telegraph 30 May 2021
– Daily Mail, 2 June 2021, Bacanora takeover “offer” by Chinese company Ganfeng
– ShareSoc Patron Lord Lee Parliamentary Question about Bacanora take-over
– Bacanora “offer” by Ganfeng – ShareSoc blog
– Investors Chronicle, 14 Oct 2021 reports latest news
Further updates will be published from time to time.
There is also a very active WhatsApp BIG group which you can join: https://chat.whatsapp.com/ESJZbhSdurb0Nib8cfaqYF
Members can also access ShareSoc’s dedicated BIG Forum to discuss matters related to Bacanora (as well as all our other forums and proprietary content). Details of full and associate member benefits can be found here.
Join ShareSoc’s BIG
ShareSoc is a not-for-profit organisation with a Board of Directors who are all unpaid, working to improve the rights of retail shareholders and working with companies, regulators and the Government with this objective.
ShareSoc is reliant on our members’ subscriptions and donations to cover our operating costs, including our office costs and the cost of hosting, maintaining and enhancing this website.
Please support us by becoming a full member of ShareSoc, which involves paying a modest annual membership fee and brings you numerous benefits. You can do this by selecting the “ShareSoc Full Membership” option below and completing your card details, when asked. Doing so will automatically set up an annual subscription @ £45 p.a. Details of full member benefits can be found here.
If you wish to make a voluntary contribution to support the activities of ShareSoc please go to this page of our web site: Donations.
Cliff Weight, ShareSoc Director
Dee Patel, BIG Coordinator and Leader