Yes I believe so. Getting to 50% or increasing the offer, within the last 7d of the original unconditional offer, was the trigger for the automatic extension. From the Takeovers Guide - "An unconditional bid can be extended at any time (provided that the bidder has not made a statement to the effect that the bid will not be extended)." But there won't be much point if the uptake continues to be low! There'll be the last lot of Iain's performance shares to go through and then one would hope that all that would have accepted have accepted... and an improved offer will be needed to get the rest of the shares. Otherwise - bring on drilling!
NWE Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
