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Whitby MP Reacts to Potash Takeover

Whitby MP Reacts to Potash Takeover

Published by Jon Burke at 7:31am 21st January 2020.

The proposed takeover of the potash mine near Whitby is 'good news and bad news'.

That's according to local MP Robert Goodwill, after we told you yesterday about an offer from Anglo American.

They'll pay 5 and a half pence per share for the company, subject to approval by shareholders.

Robert said:

"I've obviously got mixed reactions. It's great news that theproject is going to be delivered, it's great news that jobs are going to be created, but, of course, the bad news is that shareholders will be taking, in some cases, a lot less for their shares than they bought them for in the first place. It's a shame that, because alot of people put their personal confidence in the company, by buying shares."

He's been talking to Yorkshire Coast Radio's Jon Burke..




There are 7 comments on this page.

zara, on 21st January 2020 7:47am
and how many of the jobs are going to be local or even spending money in the area? The small investor hit again, bet Goodwill will not have lost out on anything.
Fileyman, on 21st January 2020 7:48am
Just what is this man talking about.

Anybody with the smallest amount of common sense knows that share prices can go up and down.

So why is Goodwill crying about it.

Has he lost some of his money?.
Whitbyman, on 21st January 2020 8:47am
There’s no such thing as a small investor, they’re all investing in something they think will make them richer , no different to putting a quid in a one armed bandit or on the lottery.
The ONLY people responsible for people losing money are Sirius mining , they’re the ones who failed to raise capital along the way to provide the means to actually build the mine , why is there no outcry or indeed an investigation into their part in this scandal ?
Blaming Goodwill or the government only deflects from the real culprits, Sirius .
Pressman, on 21st January 2020 10:59pm
There's no wonder that Sirius Minerals are in the mess that they are if paying huge bonuses to employees is anything to go by .I know for a FACT that at least one employee who is at one of the lowest pay scales within the company recieved an annual bonus of £4000 pounds along with several THOUSAND shares. So if these people at the lower end of the pay scale were awarded this then what did the directors and CEO. recieve.?
Pressman, on 21st January 2020 11:02pm
Please read the previous comment.
Ian Dixon, on 21st January 2020 8:39pm
I think there should be a public enquiry into the whole affair.
How many locals actually got jobs on the construction in the end ?
Now all the local investors are going to end up with next to nothing, while a massive company comes along and reaps the final rewards.
Anglo know the value of the potential once they have completed the project.
Shareholders have paid for all the initial work and will see no reward !
JohnfromScarborough, on 22nd January 2020 10:35am
The economic history of the last couple of centuries in this country and many others throughout the world is full of examples of what can happen with regards to investing in speculative mining schemes. A fair chance of making a fortune but a much larger chance of losing everything. It is difficult to see why those investing in Sirius should not have been aware of this.

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