Disabled veteran set to lose £250,000 after investing in Sirius Minerals
A disabled war veteran who ploughed his Armed Forces compensation into Sirius Minerals shares stands to lose £250,000 from Anglo American’s bid.
John (not his real name) was disabled in active service and, after struggling for decades, received £300,000.
‘I never had any money before and I really wanted to take care of it,’ he said.
Stakeholders are unhappy with their investment in Sirius Minerals
After putting the cash into building societies, John switched to shares as saving rates were so low.
Initially, he invested in FTSE 100 stocks.
Then he came across Sirius. ‘I looked at it from 2014. I thought it was a fascinating, long-term prospect,’ he said.
John, 62, invested in 2016, after seeing a video of chief executive Chris Fraser explaining how the project would be financed, alluding to a Government guarantee the firm had qualified for.
He kept on putting money into the company until November 2019.
‘I always felt it was such a good project,’ John explains. ‘Now I feel ashamed.’
He feels his only option is to sell his shares this week, in case the deal is rejected and he ends up with nothing.
‘I am devastated,’ he says.