I hear so much about so many lithium plays, yet I firmly believe this is the best one.
So many pump and dump, and others with weak resources/lack of funding.
Here is why I feel Bacanora is a solid long term bet!
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Look like they’ll be getting bought out. 65p per share I believe
I have never been in this situation. I have some BCN shares, so what happens now? If price in secondary market reaches to 65p (offer price) then should I sell them in secondary market?
And if I don’t sell then would Freetrade automatically sell them when BCN goes private and credit the money to my account?
If it reaches above 65p, then it’s because people believe there could be a higher counter-offer available.
You can either sell now at slightly lower than the offer to realise your gains, or wait until the acquisition goes through later at 65p. There is always the risk that the acquisition fails for some reason, like politics.
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Pretty much. Although the exact number seems to be 67.5p:
Link to the RNS for anyone that wants to read it:
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I have been in at 41.5 and out at 46 three times. On Tuesday, the low was 41.9. What a pity, a great trading stock.
How Bacanora Lithium are letting down their shareholders and allowing China to corner the lithium market
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All of us invested know about the 67.5p share offer.
I have organised a letter writing campaign. We have targeted Members of Parliament, nearly all key stakeholders, including the Bacanora Chairman and CEO themselves.
We want to stop this takeover. We want to maintain the 50/50 JV, as we feel this offer is derisory.
So far, over 50 people have confirmed they have sent out emails, and many have received responses.
Please, if you’re holding BCN, do not take this lying down!
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Do you have any template readily available that I can use and who are the targeted people? Cheers
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I hold a few Bacanora shares, but I’m not going to lose any sleep if they get taken over. 65p + a share will give me a nice bit of profit, and I’ll then move the cash on to the next “big thing”.
I don’t get sentimental with my stock purchases.
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Our campaign has made it to The Telegraph!
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This campaign keeps rolling on.
Never before, have so many Private Investors United against this!
If you agree with our aims, please join us!
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Right, so what happens now? The take over isn’t really what I was hoping for. But it mentions giving shareholders some shares in Zinnwald, which I also have some shares in, so will freetrade be doing this?
LSE article:
So you get 67.5p plus 0.23589 of a share in Zinnwald in exchange for each Bacanora share. I’m not mad about it, it’s still profit for me.
But this won’t happen until the end of October as I read it. FT will no doubt action this and it will “just happen” on the relevant day. They’ll probably send out a message to holders of Bacanora shares closer to the time.
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Has everyone received their notification about the shares?
Can this deal fall through if enough people don’t agree to the deal?
What happens if I take no action?
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Also just came here to confirm.
So FT state that we would receive £0.675 as well as 0.23589 shares of Zinnwald Lithium PLC for each Bacanora Lithium PLC share held.
The wording in the form is confusing me slightly ‘Accept cash offer’. I assume this means the above cash AND share offer, not just the cash right?
So if I currently hold 1000 Bacanora shares and vote for the takeover I’d receive £675 and 235 shares of Zinnwald.
If someone could confirm I’d appreciate it😊
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And what happens if I select No Action option.
This form is bit confusing - what does “No Action” mean in Freetrade form? Does it mean I am rejecting the takeover offer?
But freetrade doesn’t offer proxy vote option against corporate actions. So “No Action” option shouldn’t mean a voting option.
Exactly! Why are my options ‘Do nothing’ or ‘accept’
What happened to reject? If I select do nothing do I miss out completely, somehow?
This is how Interactive Investor puts it:
"Your options are:
OPTION 1: Do nothing (Default). You will keep your current holding if you do nothing.
OPTION 2: Accept the offer and receive GBP0.675 in cash and 0.23589 shares in Zinnwald Lithium plc in exchange for each Bacanora Lithium plc share held.
This Offer is conditional upon Ganfeng International Trading (Shanghai) Limited acquiring at least 50% of the Bacanora Lithium plc shares in issue. Ganfeng International Trading (Shanghai) Limited reserves the right to extend this Offer until any such time. Upon becoming the holder of 75% of Bacanora Lithium plc, Ganfeng International Trading (Shanghai) Limited intends to cancel the listing of Bacanora Lithium plc shares from trading on the Alternative Investment Market (AIM). Upon becoming the holder of 90% of Bacanora Lithium plc, Ganfeng International Trading (Shanghai) Limited intends to proceed with the compulsory acquisition of the remaining shares."
The deadline to shareholders to decide seems to be 9 Nov. So you can sell the shares now, or wait and see what happens after 9 Nov, but Ganfeng may have the shareholder votes to compulsorily purchase them all anyway. All of that said, not sure how Freetrade will handle it.
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But with option 1 too, if takeover gets go ahead then surely my holding will be sold as per the offer, since BCN then will become a private company, isn’t it?
Then do these options on this form make any difference if they are not the actual voting option?
I think If takeover is approved then my holdings would be sold regardless of what option I selected.