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5.6¢ norwest energy nl

Ann: MIN: MinRes Norwest Energy Offer - Best and Final, page-158

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160 Posts.

605

15/03/23

19:10

Post #: 66785915
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Originally posted by jake0002: ↑

they might try and do to NWE, what they did to EGO.
MIN now can control the NWE board.
When NWE needs to raise cash to fund JV commitments, NWE might do its CR eg a R/I, then when NWE does not raise sufficient funds, NWE could borrow from MIN. MIN could control the composition of the NWE board by then, and as long as the loan was at "arms length" and on "commercial terms", MIN could lend the funds to NWE on a secured basis. I am pretty certain that NWE/MIN would not then need NWE Minority s/h approval for the loan. It might need it for NWE to grant security (not sure).

Of course, when EGO defaulted, MIN grabbed EGO's assets.
Keep a look-out.

Expand

Norwest will fund ongoing work with a rights issue underwritten by Minres,
Any shortfall will increase Minres holding.
Shortfall will be determined by the price of the issue. If the Norwest board consider the share price is undervalued, then the issue price would be higher than market price.
That will test the resolve of all Norwest shareholders to take up their rights or not.
Rights issue, even if announced this week, will take at least 4 weeks to enact and close.
DYOR

NWE Price at posting: 5.8¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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