Potash miner in discussion with shareholders

Potash miner in discussion with shareholders

Sirius Minerals has been holding talks with its small, mostly retail shareholder base as it seeks backing for its recommendation to be acquired by Anglo American plc. In a letter dated 1 February 2020, it has responded to various questions raised by Sharesoc, a group who represent individual investors.

Previously, Sirius’ second biggest shareholder, Jupiter Asset Management, urged the company to consider alternatives, including a financing proposal of £519 million (see more here).

Sharesoc, on behalf of the investors, has urged the CEO and Chairman of Sirius to reach an arrangement which is fairer to shareholders, but so far, the board has stuck to its original recommendation.

Around half of Sirius’s shareholders (85,000) are retail investors, and the company will require their support at shareholder meetings to approve the transaction.

Market Tracker will continue to monitor this transaction as it develops. 

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