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Ann: Change in substantial holding from MIN, page-77

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jefferies2

8,548 Posts.

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15/03/23

14:27

Post #: 66779544
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Originally posted by greenleaf: ↑

(d) if holders of 10% or more of the securities covered by the notice object to the compulsory acquisition, the 90% holder must apply to the court for approval of the acquisition, and bear the cost of court proceedings, if it wishes to proceed with the compulsory acquisition (s664F).

It just means that's our (NWE minority shareholders) very last manoeuvre - we lodge a Notice of Objection to the Court objecting to the compulsory acquisiton. Minres then must go to Court and bear the cost to prove its case. Obviously our Notice of Objection will have to be a detailed objection - the only things left to fight for would be
(a) to be keep trading an a separate entity - approx 690 million SOI - doable in that - minres only have 159mln SOI, before takeover moves but more than likely;
(b) the shareprice min are offering to compulsorily acquire - it doesn't represent fair market value.

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I understand that is what the minority shareholders could do.

What I was questioning was how there could be more than 10% minority shareholders, when MIN held the 90% that triggered things off.

NWE Price at posting: 6.0¢ Sentiment: Buy Disclosure: Held
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