Dawood Patel, who has a £60,000 stake in Aim-mentioned Bacanora, stated: “We have experimented with to get in call with management but have been brushed off. The announcement acknowledges us with out executing so right.”
Nonetheless, Town regulations say that 30pc of the shares require to be managed by a group for a concert bash to exist.
As the tiny traders are not breaching the 1pc unique shareholding threshold they do not require to declare their stakes when they trade shares.
A spokesman for Bacanora, which is building a lithium mine in Mexico, explained the wording in the regulatory submitting as a “very conventional clause in a takeover situation”.
Ganfeng by now has a seventeen.5pc stake in Aim-mentioned Bacanora, which it by now options to improve to 30pc. 3 months in the past the firm disclosed a non-binding sixty seven.5p-a-share solution in Could, which the board stated it “would expect to recommend”. It has right until June 3 to table a formal offer.
Small traders, however, assert Bacanora could be well worth 500p a share.