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what happens if Gangeng get to 75% and delist Bacanora shares?
Tagged: Corporate Action
Shareholders who do not accept Ganfeng’s offer should note that, if Bacanora delists, as now seems likely:
It may not be possible to trade their shares
Gangfeng may close their offer to acquire your shares at the stated price (though they would have to give notice of this)
Should Gangfeng achieve 75% control, they can pass any resolutions they wish and minority shareholders have no practical say in the conduct of the business or its financing.
There is no obligation on Gangfeng to pay dividends
Hence the value of unlisted shares held would become uncertain.
You can hold unquoted shares in a SIPP, so long as the platform allows it.
The ISA legislation does not allow unquoted shares to be held in an ISA.
…going, going, Gone!!! – had cash credited to my account: 10/02/2022 – end of the story…?