Ann: Ceasing to be a substantial holder, page-22

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03/02/23

18:22

Post #: 66061889
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Originally posted by trousergecko: ↑

Hmmm... dont think Chris threw in the towel on WGO. He has bought a significant stake without triggering a takeover, which is a shrewd move. I was never convinced he wanted all of WGO, just wanted a strong partcipication in the projects next door to the centre piece jewel, NWE, which is trying to steal from me and other shareholders (I also own WGO to about the same level, so I have no benefit in calling NWE a jewel other than stating a fact I see). 20% will be a deciding vote when the rangling on who owns what gas, and the direction of that gas to customers. Chris wanted a big say in ALL East Perth Basin projects, he is achieing that for MIN. He paid over the money Gina was offering on market for WGO to get most of his stake 20%.

WIth ESS, nothing is going to happen till the outcome of the Foriegn Investment Board and Jim. No need to rush for Chris, their hasn't been to many acceptances yet. Buying above 50c is accomplishing 2 things:

(1) signalling to shareholders somebody else is interested, dont sell your shares yet. If you do sell, sell them above the offer so IGO et al, can't buy, keeping those shares out of their hands.
(2) Chris (and /or others) able to accummulate shares to a level and not report, which would trigger a frenzied price.

All speculation.... but I can the force from Chris

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Originally posted by Names little: ↑

hi trouser, though MIN bid for NWE is a full scrip bid, no cash. I guess with their scrip being so high they may be trying to take advantage of that. Hopefully if we do get a competitor bid from someone it’s a cash bid, I am always a bit wary of scrip bids after significant gains in the scrip.

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The trouble with cash bids is that they generate an event bringing on capital gains tax. As I understand the issue, a script offer does not have this effect, which will be attractive to some shareholders. A more likely offer would be for some combination or perhaps alternative offers with a little more immediate value for those accepting shares.

ESS Price at posting: 53.0¢ Sentiment: Buy Disclosure: Held
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Ann: Ceasing to be a substantial holder, page-22

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