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

Dawood Patel, who has a £60,000 stake in Aim-shown Bacanora, reported: “We have experimented with to get in get in touch with with administration but have been brushed off. The announcement acknowledges us with no undertaking so right.”

Even so, Metropolis principles say that 30pc of the shares have to have to be controlled by a group for a live performance social gathering to exist.

As the compact investors are not breaching the 1pc particular person shareholding threshold they do not have to have to declare their stakes when they trade shares.

A spokesman for Bacanora, which is developing a lithium mine in Mexico, described the wording in the regulatory filing as a “very typical clause in a takeover situation”.

Ganfeng presently has a 17.5pc stake in Aim-shown Bacanora, which it presently ideas to increase to 30pc. A few months in the past the corporation revealed a non-binding sixty seven.5p-a-share tactic in Could, which the board reported it “would be expecting to recommend”. It has until eventually June 3 to desk a formal give.

Modest investors, having said that, claim Bacanora could be worth 500p a share.