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 the company was not intended to imply any breach by Sirius of FCA rules in relation to any open offers.
If you have written to your MP on the basis of the original Template Letter you will need to correct it in order to ensure you do not unintentionally libel Sirius and/or its directors. We would suggest that you do so by using the text of this notice.
Thank you, and apologies.
Ground rules and etiquette on social media
ShareSoc is appalled that threats are being made towards Sirius’ senior management and their families on social media and otherwise.
The SSSG leadership team (Chris Spencer Phillips, Yashmin Ismail, Mark Jones, Ian Martignetti, Paul de Gruchy and Cliff Weight) wish to make it totally clear that we do not condone such actions.
ShareSoc will ensure any such comments are removed from ShareSoc’s website and Forums it operates.
Please note that making threats and libel are offences in law.
The SSSG team has been working extremely hard on your behalf. We have facilitated communication with Sirius and Anglo, with the media and with government. We have urged Anglo to offer more and Sirius to seek a higher price and to pursue alternative solutions.
I have reached out to Alok Sharma via Twitter:
It might just influence Alok Sharma, the new Business Secretary if he got 85,000 retweets!
Update re SSSG members
We now have about 900 individuals in the SSSG. The more members join, the more influence we will have.
Our Forum now has over 50 pages of detailed comments and analysis. It is proving a very valuable medium for Sirius Shareholders to exchange views and learn more about what has happened and what might happen next.
Only ShareSoc full members can access the Forum. The others receive regular updates on the campaign. This update is the sixth we have emailed out to SSSG members.
The SSSG team had a call with Anglo executives on Wed 12 Feb. The discussion focused on price – Anglo’s offer price vs. the intrinsic value of the mine with financing in place – and on the desire by shareholders to retain an economic interest in the mine. The response was a reiteration of the stark choice facing shareholders. Nevertheless we asked that our concerns and requests be communicated to the Anglo Board, and received assurances that this would happen.
We have had little constructive communication with Sirius since the meeting on 4 Feb, other than in relation to the clarification referred to above, plus some technical issues about communications and how to vote (but not which way to vote). It is clear however that Sirius is monitoring posts on our forum and on other media and so are aware of our actions via informal channels.
Our good links with the press continue and two notable stories have been:
Update on MPs
The MPs letter writing campaign demanding action has increased awareness of shareholders’ plight and of the unusual demographic involved.
The last date for voting should be 3 working days before the GM on March 3rd, but you need to check with your platform what requirements they stipulate.
We have completed two surveys, one of which identified shareholders willing to talk to the press.
Sirius advised us that “a fairly deep dive campaign is planned to communicate with underlying beneficial holders in our situation, ” and said they are happy to discuss communications , which we plan to do next week. “Beneficial holders” include those whose shares are held in nominee accounts.
The helpline is provided by registrar and shareholder services group Link Asset Services, and it is: 0371 664 0321.
Additionally, Sirius said shareholders can also call Georgeson (a trading name of Computershare), on 00 800 3742 6163 if they have questions about the acquisition.
The company noted, however, that: “for legal reasons, Georgeson will only be able to provide you with information contained in this announcement and will be unable to give advice on the merits of the acquisition or to provide legal, financial or taxation advice on the contents of this announcement or the acquisition.” Source: Proactis post.
Full Members of ShareSoc who require assistance or support with voting or meeting attendance, can contact our office.
Go here https://www.sharesoc.org/campaigns/sirius/ for further information about the SSSG and to register to join the Campaign.
Cliff Weight, ShareSoc Director and SSSG Team member