Small investors battle China’s bid for London-listed lithium miner

Dawood Patel, who has a £60,000 stake in Intention-mentioned Bacanora, mentioned: “We have tried to get in get hold of with administration but have been brushed off. The announcement acknowledges us with no doing so straight.”

Having said that, City procedures say that 30pc of the shares want to be managed by a team for a live performance get together to exist.

As the tiny investors are not breaching the 1pc specific shareholding threshold they do not want to declare their stakes when they trade shares.

A spokesman for Bacanora, which is developing a lithium mine in Mexico, described the wording in the regulatory submitting as a “very normal clause in a takeover situation”.

Ganfeng by now has a seventeen.5pc stake in Intention-mentioned Bacanora, which it by now plans to boost to 30pc. A few weeks ago the business disclosed a non-binding sixty seven.5p-a-share technique in May perhaps, which the board mentioned it “would anticipate to recommend”. It has until finally June 3 to table a formal offer.

Smaller investors, even so, assert Bacanora could be really worth 500p a share.