NWE are at 40%..
40% will give MIN Control of the Board. No doubt in my mind.
Reason is so many shareholders simply do not vote.
At the last AGM about 2,527m shares were voted - out of total shares on issue of about 6,714m.
So only about 38% of shares were voted. Of those 2,527m shares that voted, MIN had 1,335m shares.
So now MIN has 40% and still climbing - when next time Board members are voted for, MIN can nominate the majority of directors - and their vote will carry the day.
At this rate MIN will get to 50%.
Having said that, IMHO, if you think the MIN bid undervalues NWE, then stay the course, because IF MIN does not get to 90% threshold, then s/h can remain in a listed NWE.
This is pretty much the same situation as is happening over at WGO.
NWE Price at posting:
7.0¢ Sentiment: None Disclosure: Not Held