We really do need a definite clarification on this.With an...

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StockholmRod

496 Posts.

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04/04/23

10:02

Post #: 67121328
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Originally posted by soltrader: ↑

Some people advised a while ago that we need to keep notes/times/dates on EVERYTHING that doesn’t look right.
And I agree with that. Something that doesn't look right has been bugging me.
I (and a few others) asked a question about it, but couldn't get an answer on this.

Here goes:
The offer document says the following:
"MinRes intends to offer one (1) fully paid ordinary share in MinRes for every 1,367 Norwest Shares held on the register date. The Offer implies an offer price of $0.06 per Norwest Share (Implied Offer Price1)."

And here's what it says about the "register date":
"Under the terms of the Offer, accepting Norwest shareholders will receive one (1) fully paid ordinary share in MinRes for every 1,367 of their Norwest Shares held as at the register date of 7:00pm Sydney time on 19 December 2022."

A while ago, a few people reported buying parcels of NWE shares under a new account in the past few months
(i.e. after the register date). And they were sent the "accept the offer" booklet by MIN.

I've been waiting on legal eagles to opine on this:
If this is happening to unsuspecting holders (or MIN buddies), isn't it a problem? And who will know?
I don't have proof of this, but for those that have been contacted, isn't this something that needs looking into?

We need to have all the bases covered.
And I just need re-assurance that there's NO WAY they would attempt something like this, because I wouldn't put it past them.

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We really do need a definite clarification on this.

With an untrained eye I have waded through the mounting documentation relating to the T/O.

All the associated dates have been moved forward with each new Offer extension.

Except the "Register Date".

NWE Price at posting: 6.1¢ Sentiment: Buy Disclosure: Held
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