My reading of the prospectus is the shortfall offer will only be open to the "Underwriters" which is a defined term in the Prospectus:
Underwriter means Sundowner International Limited (a company associated with Mr HD Kennedy) as to 33.33%; Michael John Fry as to 33.33%; Corralline Pty Ltd as to 15.30%; Kala Nominees Pty Ltd as to 15.30% and Resource Services International (Aust) Pty Ltd as to the remaining 2.74%. Each of Corralline, Kala and Resource is a company associated with Mr PL Munachen and Resource is also associated with Mr EA Myers, the company secretary of Norwest.
fyi, shortfall offers can be made to existing holders without the need for a new propsectus (as would normally be required under s708AA or 1012D) by virtue of ASIC CO 08/35
Cheers, TheAge
NWE Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held