Ann: Norwest Directors Unanimously Recommend MinRes' Revised Offe, page-311

Thanks. This clause, together with the pathetic number of acceptances for MIN, removed from my mind any thought that I was going to lose my NWE shares before the drilling.

It seems too good to be true, but nobody has posted a denial of the implications of the rule. There are, on the contrary, occasional Incorrect suggestions that MIN will buy NWE shares to increase its holdings, and thereby get its takeover.

Sorry MIN, the rules won't allow you to buy NWE shares before the drilling is due - but six months later you can buy 3% more of your holdings of NWE shares. Then 3% more at six monthly intervals.

So no hope of a takeover in the meaningful future, unless there is a phenomenal increase in acceptances - phenomenal because so far the acceptances have been for 1.09% of NWE's shares, accoding to today's announcement.

Altogether MIN now owns 20.99%. It has to get to 90% to takeover NWE.

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