INTERVIEW: Nyrstar's rebel shareholders are not done suing yet

“How did I get into this? It started with a personal investment in early 2018, when the company and analysts were very upbeat on its finances… But in the second half of 2018, all of a sudden it changed,” Kris Vansanten says clearly and firmly over the phone from Belgium.

“That is when I started to become suspicious, and the more I dug into the annual reports, the more I felt a very strong sense of injustice,” he adds.
Vansanten is co-head of RSQ Investors and also unofficial spokesperson for a syndicate of retail shareholders who are suing the company in which they have invested - Nyrstar NV.
Shares in the zinc and lead smelting company are still traded on the Brussels Euronext exchange, although at the time of writing they were doing so at €0.099 ($0.112) per share.
That is a long way short of the €6-7 per share price of the first few months of 2018 or indeed from the €186 per share paid by some investors at the time of the initial public offer (IPO) in 2007 of a much-heralded merger of Zinifex and Umicore’s smelting assets in Australia and Northern Europe.

A series of...

Published

Archie Hunter

June 26, 2020

18:47 GMT

London