Small investors battle China’s bid for London-listed lithium miner Business

Dawood Patel, who owns a £ 60,000 stake in Bacanora, listed on Aim, said: “We tried to get in touch with management, but we were sidelined. The ad recognizes us without doing so directly.

However, city rules state that 30pc of stocks must be controlled by a group for a concert to exist.

As small investors do not exceed the individual shareholding threshold of 1 pc, they do not need to declare their holdings when trading shares.

A spokesperson for Bacanora, which is developing a lithium mine in Mexico, called the wording of the regulatory dossier “a very standard clause in a takeover situation.”

Ganfeng already owns a 17.5% stake in Bacanora, listed on Aim, which it already plans to increase to 30%. Three weeks ago, the company in May revealed a non-binding 67.5pa equity approach, which the board said it “would expect to recommend.” He has until June 3 to make a formal offer.

Small investors, however, say Bacanora could be worth 500 pence per share.

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This notice was published: 2021-05-31 17:49:50

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