ShareSoc News

Press release 113 – Burford v London Stock Exchange legal case judgement implications

Press release 113 - Burford v London Stock Exchange legal case judgement implications ShareSoc: Regrets both the judgement and the basis for it as set out by the judge, and Laments the further erosion of confidence it will cause. Share Soc Director, Paul De Gruchy, said "Our survey highlighted the lack of confidence of individual investors of the AIM market and the way it is regulated by the London Stock Exchange (LSE). Ultra short term investors are extracting rent, risk free, from long term ...

EDGE Performance VCT Update 9 May 2020

At the 2019 AGM of Edge Performance VCT, all 3 directors who stood for re-election were not re-elected; nor were the auditors Grant Thornton.  Subsequent to the 2019 AGM, the Company’s sole remaining director, Terry Back, re-appointed 2 of the 3 former directors. ShareSoc launched a campaign in Jan 2020 to improve the performance of Edge Performance VCT Plc (consisting of H and I share classes) and reduce the fees charged by its investment manager, Edge Investments Limited. Although we have not communicated ...

ShareSoc Website Upgrade

Introduction ShareSoc is delighted to announce a major upgrade to its website, providing a host of new features for our members and visitors to our site. These new features supersede our previous Ning-based members' network and bring all our content together in one place. We have also taken the opportunity to introduce some powerful new features, not previously available on our members' network. For a period of one year from release of the new version of our website, we will retain the old ...

Major Website Upgrade to be Launched Shortly

I am delighted to announce that after many months of work, we are nearly ready to launch a major upgrade of our website. This upgrade will integrate the features of our members' network into our main website. Watch this space for details! To facilitate this launch, we will need to freeze certain aspects of the current website, for a brief period. This will begin at 9am on Monday 30th March. From then onwards, no new blog or news posts will appear and any ...

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 ...

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 ...

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 main considerations for shareholders in relation to the proposed takeover of Sirius. It is based on our current understanding and does not constitute investment advice. With only a few days left until shareholders will need to cast their votes on the Anglo American offer, it is worth reviewing the position dispassionately and objectively. The Anglo ...

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 ...

Sirius Minerals – Call with Anglo American

The ShareSoc Sirius Shrareholders Group (SSSG) held a call with Anglo America last Wednesday, 12th February. The purpose of the call was to facilitate contact between the representative shareholders and the company, allowing the shareholder view to be expressed. The discussion focused on two areas of shareholder concern: firstly price and secondly the desire for continued economic involvement. As regards price, we underlined the difference between the offer price and the intrinsic value of the mine with financing in place. Anglo's involvement transforms the ...