SXX

Sirius Update #5, 9 Feb 2020

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 ...

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 ...

Sirius Update #4  5 Feb 2020

Over 700 Sirius shareholders have now joined the ShareSoc Sirius Shareholder Group (SSSG) and more are joining at a rapid rate. Please join ShareSoc and SSSG. The more members of SSSG we have, the more influential we will be. We have successfully lobbied Sirius and they agreed to meet. We have sent them a 5 page letter and they sent a detailed response. The Sirius meeting was with CEO Chris Fraser, Chairman Russell Schrimshaw and others, and happened on 4 Feb. A note ...

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 ...

Brexit and Why Shareholder Votes Matter

Last night Brexit got done. We exited the EU after 47 years. But we will need to resume the conversation to secure a trade deal. That still leaves room...

Sirius Update #3 30 Jan 2020

586 Sirius shareholders have now joined the ShareSoc Sirius Shareholder Group (SSSG) and more are joining at a rapid rate. Pressure is mounting from the Daily Mail, with our input, for Anglo to consider options that keep shareholders engaged https://www.thisismoney.co.uk/money/comment/article-7922163/ALEX-BRUMMER-Sirius-Minerals-backers-shares.html and I can now report two more major press stories in the Telegraph and Yorkshire Post: https://www.telegraph.co.uk/business/2020/01/27/fca-bearing-may-adios-amigo/ - It is the second article on this link and you need to register to see it. https://www.yorkshirepost.co.uk/business/sirius-shareholders-get-much-needed-investor-forum-ros-snowdon-1-10223498 We have had a terrific response from the Law Commission, ...

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 ...

Shareholder Rights: Positive noises from Law Commission re nominees and Sirius problems

Our most important campaign is Shareholder Rights which relates to the current problems with nominee accounts. This is so important because it impacts all our other campaigns and work...

Sirius Update #2 28 Jan 2020

As of today, 28 Jan,  274 Sirius shareholders representing at least 150m shares have joined the ShareSoc Sirius Shareholder Group (SSSG) and more are joining at a rapid rate. These figures do not include a backlog of registrations still to process. The more members we have, the more people will have to listen to us. We are merging Paul Anscombe's data into ShareSoc's database thus ensuring that the data is held securely and confidentially. This work is currently underway. I would like ...

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

Sirius Update #1 24 Jan 2020

As of last night 235 Sirius shareholders have joined the ShareSoc Sirius Shareholder Group (SSSG) and more are joining at a rapid rate. Pressure is mounting from the Daily Mail, with our input, for Anglo to consider options that keep shareholders engaged https://www.thisismoney.co.uk/money/comment/article-7922163/ALEX-BRUMMER-Sirius-Minerals-backers-shares.html The SSSG committee have sent a letter the Sirius Board of Directors requesting a meeting and further information. To see the 5 page letter go to the ShareSoc Sirius Forum page https://www.sharesoc.org/forums/topic/letter-requesting-disclosure/ – sorry, but you will have to be ...

ShareSoc Sirius Shareholders’ Group (SSSG)

Latest News Campaign Closed - 14/11/2023 Campaign members will be aware that there has been little reportable progress over the past year. This has not been due to lack of effort on the part of the volunteer team, who have continued to press for further information to support a legal redress claim. The team’s efforts have been consistently hampered by certain parties, most notably the Infrastructure and Projects Authority who have resolutely refused to comply with requests for information. Three years have passed since the acquisition of ...