Ann: MIN: MinRes Norwest Energy Offer - Best and Final, page-159

I'm genuinely curious, and with respect, how could the board enact a rights issue at a price higher than current SP (tethered to MIN) under the guise of an undervalued SP when they have recommended the acceptance of the 1300/1 facility offered by MIN on numerous occasions? Surely they couldn't expect this to pass the pub test....and questions to possibly be asked by the regulator as to how they came to this conclusion/valuation when they've been so stringent in their resolve to convince NWE shareholders that the MIN offer is the best available and values us higher than expected?

Do you imagine they will just do it at the 7.4c original valuation from MIN?