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12:40
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Originally posted by greenleaf:
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Q - can MIN have NWE delisted at 75% - No, need 90% to compulsorily acquire and delist. Corporation Law talked about on numerous occasions - a majority shareholder cannot vote to the benefit of itself and to the detriment of the minority shareholder (NWE). You would receive the offer at the minimum, when and if that were to happen in the future - ASIC require a faire valuation for the shares being compulsorily acquired. if talking about delisting - answered above otherwise we have 1.93billion shares SOI in NWE - tradeable on market and operate as any other company on the ASX and if the drills bring in the gas, as expected, the open market will look after the share price and the risk is if we don't find the gas, the open market will also again, look after the share price. That's my answers Billja, perhaps best to get your own financial advice instead of relying on me. Never invest money you are not prepared to lose! An old saying from my Mother!
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It is false that you need 90% to delist. Delisting requires the passing of a special resolution of 75% (with further conditions such as shareholder composition). 75% in NWE's case won't necessarily result in delisting because of the shareholder base but for entities with a small number of minority shareholders, it would.
