London-headquartered Bell Rock says the coal major has selectively provided some shareholders more details about its M&A plans than others.
One of Whitehaven Coal’s largest investors has accused the company of telling a select number of shareholders that it would delay its share buyback program and was interested in buying two massive coking coal mines, suggesting this left the market “misinformed”.
But, in a letter to the Whitehaven board, Bell Rock’s chief investment officer, Michael O’Mara, wrote that he was “seeking urgent clarification” about comments made at an investor event in Singapore after the company’s financial accounts were published.
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