Sabine
Per 1.1 on the document, it seems some institutional holders may not be able to accept the offer until it is declared unconditional (that may be part of their investment mandates). This facility offers these sort of shareholders and option to indicate they will accept the offer.
NRW/PGX seem to be doing this as they need to get 90% acceptance and as of yesterday it was ~70% (so the entire thing could fall over if they don't get 90% by 12 Feb). Perhaps some institutional shareholders pointed this out, hence they are taking this added step (hard to know how many shares this impacts).
The price people get is the same for everyone
- 27.5c cash
- 0.106 NRW shares (which at $3 means 31.8c)
=> total of 59.3c
Ann: Supplementary Bidder's Statement, page-4
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