DRILLING UPDATE, page-95

First 95 Last

Share
Profile

Follow
Mondo1960

929 Posts.

143

04/04/23

15:56

Post #: 67130747
Share

Originally posted by avanti: ↑

I also think we should be very concerned about the issue raised by Soltrader regarding "register date" I know this is happening, but surely can't be legal.

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?

Expand

just IMHO and not legal advice
shares held at the register date may refer to the total shares on issue on the register date irrespective of who the owners are at the time and allow holders to trade on market
and hence new owners are notified of takeover bid
so prevents target company from issuing more shares to frustrate the bidder (lol)
I know here that NWE BOD. were allowed by MIN
to convert their options so more shares on issue after register date but that’s another story
AIMHO & DYOR

NWE Price at posting: 6.1¢ Sentiment: Hold Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Bitcoin investors need to know the risks

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

There are more pages in this discussion • 85 more messages in this thread...

First 95 Last

Add NWE (ASX) to my watchlist

DRILLING UPDATE, page-95

Top Stories

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Bitcoin investors need to know the risks

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Immutep reports strong response rate from immunotherapies treating carcinomas

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Nimy to raise $1.21M to explore 'newsy' WA targets

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Featured News