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Judgement Day on Takeover of Whitby Potash Mine

Judgement Day on Takeover of Whitby Potash Mine

Published by Karen Liu at 6:01am 13th March 2020. (Updated at 6:46am 13th March 2020)

A High Court judge will rule today on whether or not to ratify the takeover deal for the potash mine near Whitby.

Last week, shareholders voted in favour of the offer for Sirius Minerals for 5.5 pence per share from Anglo American.

RELATED STORIES: Sirius Minerals Takeover Approved by Shareholders

But there have been concerns about how accessible the voting process has been for many investors.

Ian Martignetti, who is a Barrister and member of the Sirius Minerals Shareholder Action Group, said:

"If I was to guess, I would think there's a probability that the judge will approve it.

Having said that, I do still think the court, should and probably will, look at that voting process to see whether what the court has got, is a true picture of shareholder sentiment.

If the High Court judge gives his, or her, approval then that's the scheme approved and that's the amount that will be paid, 5.5p.

But, that doesn't necessarily mean that the shareholders won't be considering grievances they may have with the way that they've been treated, that may or may not lead to the make in referrals to other places."

Ian has been speaking to Yorkshire Coast Radio's Jon Burke:

 

 

Comments

There is 1 comment on this page.

yorkshireboy, on 13th March 2020 11:44am
I have read several articles about investors and there losses.

Whilst in a way I feel sorry for them let's not forget one very important point.

Investing in schemes of any description is a huge risk.

And it's no good moaning if that risk does not work out as you hoped.

I have read unbelievable posts of people remortgaging there homes or using huge amounts of there pension pot to invest in high risk investment.

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