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ShareSoc Blog

This blog gives you the latest topical news plus some informal comments on them from ShareSoc’s directors and other contributors. These are the personal comments of the authors and not necessarily the considered views of ShareSoc. The writers may hold shares in the companies mentioned. You can add your own comments on the blog posts, but note that ShareSoc reserves the right to remove or edit comments where they are inappropriate or defamatory.

There is more news given in the News page of our web site and more analysis of news is provided in our monthly newsletter for members – see the Newsletters page.

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Sirius Update #9, 14 March 2020

The general disappointment and in many cases anger due to the crystallisation of losses for many investors remains. We reiterate the overall unfairness of the deal, but in the end, this was the only deal on the table. So, what next? The Court Hearing on 13th March approved the scheme and it will become effective on 16th March. After this comes the question of legal redress. Here, the process changes gear: time is no longer of the essence, and it is important to ...

Market Crash and Abcam Impact from Coronavirus

This morning (9th March) my stock market portfolio was a sea of red – down 5.6% at the time of writing at 9.30 am.  Not only have most shares...

The Great Crash – Lessons from History

The stock market is falling and it may continue to do so, with the odd bounce along the way. The reason is partly because when confidence is destroyed that...

Sirius Update #8, 6 March 2020

The Anglo offer to acquire Sirius has been approved by shareholders. There is general disappointment due to the crystalisation of losses for many investors but, as the Chairman said at the meeting, this was the only deal on the table. 57% of shares were not voted. Georgeson, voting advisers to Anglo, are experts: they knew this would occur and Anglo could win the vote with their miserly 5.5p offer. In my opinion, Anglo would have had to offer more if the nominee system had ...

NMC Debacle

Trading in the shares in NMC Health (NMC) was suspended on Thursday and a formal investigation by the FCA was announced. The suspension announcement said that the company has...

Sirius Update #7, 24 Feb 2020

The GM and Court Meeting on 3 March are rushing towards us. If you hold your shares via nominee (i.e. by a platform or broker) you will need to give them your voting instructions very soon. It will depend on which platform/ broker you are with and what their specific terms and conditions say, but most likely their deadline will be 11.00am on Wed 26 Feb. If you want to go to the 3 March meetings, you will need a letter of ...

Sirius Minerals Voting Considerations

This document can be downloaded at: Sirius Voting Considerations 20200220 It is issued by ShareSoc and by the ShareSoc Sirius Shareholders Group (SSSG) to set out some of the...

Competition in the Audit Market

I attended a “roundtable” event at the Financial Reporting Council (FRC) on Monday. It was primarily a discussion of audit market competition and how to improve it, with private...

Share Centre Takeover and Holding Unlisted Shares

This morning it was announced that the Share Centre (Share Plc: SHRE) were recommending a takeover bid from Antler Holdco, the holding company of Interactive Investor and the ii...

Sirius Update #6, 15 Feb 2019

CLARIFICATION It has been brought to our attention by Sirius that our original MP Template Letter contained certain inaccuracies. At the time of drafting the template, we had received the impression that Sirius had been negotiating the takeover with Anglo American for a year and a half, including the period covering the 15p open offer and placing. The company confirms, and we accept, that this was not the case. We would also like to clarify that our reference to a protracted marketing campaign by ...
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