Anexo: rebel shareholders speak for c10% and want to block bid, open letter sent

Tom Winnifrith
Tuesday 29 April 2025

The letter is below and is pretty hard hitting, In essence rebels owning c 10% accuse the greedy husband and wife team who own 34% of Anexo (ANX) and offshore fund manager DBAY (which owns 28%) of sitting on information not available to other shareholders and using that to launch a low ball bid. And, of course, although Alan Sellars and Samantha Moss have taken out cash of more than £70 million via share sales, dividends and fees since 2018, the bid is in loan notes. Not a cent of cash is on the table.

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Bio: Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.