Ann: MIN: Extension of Norwest Takeover Offer, page-106

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mattyman174

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22/03/23

10:54

Post #: 66895240
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Originally posted by alexei ii: ↑

tThey wont close until 1st July 2023 or they get 80%. imo. unless they read this and decide to cut their nose off to spite their face.

To get a sense of how much money is involved...Let's say its 4 billion at average of 4c profit. Thats $160 million profit. Tax on that at say 30%= $53 million. Tax on that at 15% is $26 million. So somewhere between 25 and 50 million of TAX. Its a fair chunk of money, those that accepted the MIN offer will have to pay out.

By my reckoning, the tax bill is too big to ignore and they have too many friends that helped them by folding. So they (and their friends) will try anything to get to the 80%. And think of it, all the acceptors did, was give MIN a bargain and they now cop a tax hit for their generosity. Can you imagine fronting up to a party and looking at your friends in the eye and saying << soz folks, i stuffed up....but not my fault...who could have predicted these brainless NWE holdouts would have held out so much?!!! >> yeah ... nah.. ...not going to cut it ... you'd have expect to cop a handbag across the head or a bunny punch with the pistaccios when no ones looking.

and did i say pistaccios? @Pottermore thanks for the pistaccios mate. They are the best!! After my tax free NWE payout in 2024, I'll buy some land next to you and plant a few (thousand) trees myself!!!

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Realistically though, what recourse do the folders have anyway?

Wouldn't they be double served CGT if they decide to sell the MIN shares they received in order to spite MIN for failing to reach 80% within 12 months?

Please correct me if I am wrong.

NWE Price at posting: 6.2¢ Sentiment: Buy Disclosure: Held
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Ann: MIN: Extension of Norwest Takeover Offer, page-106

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The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

Fast-track assaying yields 182 g/t gold for iTech at new NT play

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