So those outside the top 20 hold around 2.9B shares.And there...

So those outside the top 20 hold around 2.9B shares.
And there were 6,700 shareholders, less the top 20.
A lot of shareholders with a very big chunk of NWE.
This must be giving MIN a migraine

The larger shareholders taking up this offer surprises me, apart from the Directors.
They will have to pay CGT as 80% rollover relief seems very unlikely atm.

To pay the CGT bill around November many will need to sell MIN shares, creating a further CGT event
This will also put a lot of pressure on the MIN price.

For anyone thinking of taking this offer, you really need to look at the CGT implications.

DYOR, not advice - go get some professional advice