ShareSoc in the News

This page lists references to ShareSoc in the press and broadcast media.

Yorkshire Post, 26 February 2020, Sirius shareholders face a stark choice

The ShareSoc Sirius Shareholders Group (SSSG), which is supporting small investors in Sirius Minerals, said they now face a stark choice between accepting Anglo American’s “unpalatable” 5.5p per share offer or “the very high probability” of losing everything if they reject it.  See https://www.yorkshirepost.co.uk/business/sirius-shareholders-face-stark-choice-ros-snowdon-1996010

The Times, 25 February 2020, Sirius Investors must put aside emotions

The Times has published an article based on our vote recommendations paper. We stressed we do not give financial advice and were not making a recommendation. https://www.thetimes.co.uk/article/sirius-minerals-investors-must-put-aside-emotions-tx5r5h9j6

Daily Mail, 25 February 2020, Now Business Secretary is dragged into Sirius row amid fears ordinary shareholders will be shut out of vote

https://www.thisismoney.co.uk/money/markets/article-8044485/Now-Business-Secretary-Alok-Sharma-dragged-Sirius-row.html The Daily Mail reported that: In a letter to Sharma, Cliff Weight, director of investor lobby group Sharesoc, said: 'The events at Sirius Minerals highlight how complicated the system to vote shares is and the need to make it easier. 'Low rates of voting by individual investors will mean that opportunists can overly influence takeover outcomes.'

The Times, 22 Feb 2020, “Small investors plot to foil Anglo’s Sirius offer”

ShareSoc and SSSG team member Yasmin Ismael were mentioned in a long article in The Times on Saturday which highlighted the desire of some shareholders in Sirius Minerals to invest in a further fund raise rather than accept the current Anglo Takeover offer  in Sirius. https://www.thetimes.co.uk/edition/business/small-investors-plot-to-foil-anglo-s-sirius-offer-mvpxvvg55 The Times reported that: Ms Ismail ....  has joined forces with others through ShareSoc, the organisation that supports retail investors, which secured a meeting with management and broached the possibility of existing shareholders stumping up the $600 ...

MoneyWeek 20 Feb 2020, Do you own shares in Sirius Minerals? Here’s what you need to do now

ShareSoc member Michael Taylor looks at the situation and the options for shareholders. See https://moneyweek.com/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover Paul de Gruchy, a director of ShareSoc (the lobby group for individual investors), which has been approached for help by hundreds of investors in Sirius, said that “while ShareSoc cannot recommend whether investors should accept the offer or not, we can help them to get the information they need to make an informed decision and to hold the board to account, in particular in understanding what alternatives ...

Mail on Sunday, 16 Feb 2020, Probe into Sirius Share Push

Small investors in Sirius Minerals are compiling a dossier to hand to the City watchdog over fears they were misled when they bought shares in the troubled miner... https://www.thisismoney.co.uk/money/news/article-8007413/Probe-Sirius-share-push-lured-85-000-Investors-slam-derisory-Anglo-American-offer.html ...The pressure group ShareSoc has taken up the case on behalf of 1,000 Sirius investors and last week launched an investigation into how they were persuaded to invest... ...Chris Spencer-Phillips of ShareSoc said: 'If the investigation shows hard evidence the stock was oversold, we'll ask the Financial Conduct Authority to investigate. We're seeking to establish ...

Daily Mail, 9 Feb 2020, Sirius Minerals stand-off with investors

The Daily Mail reports that "crunch talks have been held with small shareholders": https://www.thisismoney.co.uk/money/markets/article-7984611/Sirius-Minerals-bosses-hold-crunch-talks-shareholders-seek-backing-405m-takeover.html ...Sirius chief executive Chris Fraser and chairman Russell Scrimshaw met with ShareSoc, which is representing hundreds of individual investors, in a bid to drum up support for the deal last week... ...according to ShareSoc, Fraser and Russell dashed these hopes during the 'frank' talks. ShareSoc said: 'The board has not closed down discussions on alternative solutions and will continue to review all viable alternatives to the Anglo bid until the ...

Teesside Gazette, 5 Feb 2020, Sirius top shareholder urges mining firm to ‘pursue other options’

TeessideLive reports that Jupiter Asset Management is seeking an alternative to current proposals. https://www.gazettelive.co.uk/news/teesside-news/sirius-minerals-top-shareholder-urges-17687829 ShareSoc Director and ShareSoc Sirius Shareholder Group (SSSG) Co-ordinator, Chris Spencer-Phillips is quoted extensively: In a letter to Sharesoc, a not-for-profit organisation representing shareholders' interests, Sirius said there was a "very real risk" that the funding package would not be secured by the end of March 2020. It had therefore concluded there was "not likely to be an alternative to the Anglo offer" other than liquidation. Chris Spencer-Phillips, from ShareSoc, was speaking ...

Investors Chronicle, 30 Jan 2020, Why shareholders votes matter – Sirius Minerals

Cliff Weight, director at campaign group ShareSoc, highlights that this is currently a frustration for Sirius Minerals (SXX), which is unable to directly contact investors held in nominee accounts regarding the takeover bid from Anglo American (AAL). See https://www.investorschronicle.co.uk/managing-your-money/2020/01/30/why-shareholders-votes-matter/ which is a fairly comprehensive review of the issues. “Individual shareholders can greatly assist in corporate governance, effective company engagement and holding directors to account,” says Mr Weight. Mr Weight says that private investors also tend to be “better than so-called professionals” at ...

Yorkshire Post, 27 Jan 2020, Sirius Shareholders Get Much Needed Forum

Ros Snowdon reports on the ShareSoc Sirius Shareholder Group: https://www.yorkshirepost.co.uk/business/sirius-shareholders-get-much-needed-investor-forum-ros-snowdon-1-10223498