DRILLING UPDATE, page-83

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DCE80

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170

04/04/23

14:15

Post #: 67128331
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Originally posted by avanti ↑

I also think we should be very concerned about the issue raised by Soltrader regarding "register date"
I know this is happening, but surely can't be legal.

The offer document says the following:
"MinRes intends to offer one (1) fully paid ordinary share in MinRes for every 1,367 Norwest Shares held on the register date. The Offer implies an offer price of $0.06 per Norwest Share (Implied Offer Price1)."

And here's what it says about the "register date":
"Under the terms of the Offer, accepting Norwest shareholders will receive one (1) fully paid ordinary share in MinRes for every 1,367 of their Norwest Shares held as at the register date of 7:00pm Sydney time on 19 December 2022."

A while ago, a few people reported buying parcels of NWE shares under a new account in the past few months
(i.e. after the register date). And they were sent the "accept the offer" booklet by MIN.

I've been waiting on legal eagles to opine on this:
If this is happening to unsuspecting holders (or MIN buddies), isn't it a problem? And who will know?
I don't have proof of this, but for those that have been contacted, isn't this something that needs looking into?

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It's definitely happening. I bought some in my wife's name recently and the booklet was sent out very shortly after.
Is it untoward? I do not know.

NWE Price at posting: 6.1¢ Sentiment: Buy Disclosure: Held
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