NWE (ASX) Ann: Change in substantial holding from MIN

Originally posted by phx: ↑

I don't know if you really own shares or not but what is all this crap about compulsory acquisition.
It's getting ridiculous.
IF it ever happens it will be years away.
Probably many many years.
It will certainly be after 4 wells, 3D and a gas plant - and a rerating of NWE.
If the drilling/3D is good, any shortfall from a rights issue MIN will be able to take up - a few % at best.

Let's look at what has happened.
At takeover MIN have 20% SOI
They had some mates with shares as well.
Also, BOD sold to them.
Then the normal no idea at all people who just accepted because they got something in the mail.
Then those who at least thought about it but didn't really know what NWE was doing. They possibly read up to the 2nd page of the offer.
For some larger holders, it was a great opportunity to divest and even come back in again if they wanted.

After the initial first offer end date the acceptances have got less and less.
Currently the acceptances are very very slow and getting slower.
The shareholders who would accept have.
The rest of us aren't selling at this price.
After all this time they have 72% and the acceptances are less than a trickle.
MIN need around another 28%.
Getting to 80% will be an enormous achievement.
I do not even give a seconds thought to the possibility of MIN reaching 90% with the current offer.

The only way for MIN to get NWE is if all the drill holes are dusters.

Drilling has started - looking forward to the next few weeks.

GLTAH

Just my opinion - DYOR

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They are actually circa 72.8%....so edging very close to the 75% mark, which as I alluded to before, seems to be the point at which they can delist us after 1 month of offer closure.

So, they keep offer open and get 75%...which could be within the month, close offer. Wait 1 month. Then can vote on delisting.

From there, its all about running us into the ground via dilution....and with no other likely buyers to a delisted stock in that position, they continue to goble up the 15% to hit 90% and then snatch the remaining.

Anyone tell me where I'm wrong, happy to hear otherwise. These are all just my thoughts and I hope it doesn't play out like this.