Kinterra Raises NWR Bid to A$0.064 Per Share, Extends Acceptance Cutoff
Kinterra Capital has increased its takeover offer for New World Resources Limited to A$0.064 per share and extended the acceptance deadline to July 17, signaling renewed confidence in securing control.
- Offer price raised to A$0.064 per NWR share
- Acceptance condition threshold extended to 5pm AEST, July 17, 2025
- Offer to become unconditional if 30% acceptance condition met by new deadline
- Payment to shareholders within 10 business days after offer becomes unconditional
- Kinterra reserves right to vary offer terms under Corporations Act
Kinterra Raises the Stakes
Kinterra Capital GP Corp. II, acting as the general partner of Kinterra Critical Materials & Infrastructure Opportunities Fund II, LP, has issued its third supplementary bidder's statement regarding the ongoing takeover bid for New World Resources Limited (NWR). The key update is an increase in the offer price to A$0.064 per NWR share, up from the previous A$0.063, reflecting Kinterra's intent to make the offer more attractive to shareholders.
Extended Deadline for Acceptance
Alongside the price increase, Kinterra has extended the deadline for satisfying the critical 30% acceptance condition to 5, 00pm AEST on Thursday, 17 July 2025. This condition requires that Kinterra secure acceptances representing at least 30% of NWR shares for the offer to proceed unconditionally. If met by this new deadline, Kinterra will declare the offer unconditional and proceed with payment to shareholders within 10 business days.
Implications for Shareholders and Market
For NWR shareholders, this development means a slightly improved offer price and a clear timeline extension to consider their options. The unconditional status of the offer upon meeting the acceptance threshold removes some uncertainty, potentially encouraging more shareholders to accept. However, the statement does not disclose current acceptance levels, leaving the market to speculate on whether the 30% threshold is within reach.
Strategic Positioning by Kinterra
Kinterra’s willingness to increase the offer price and extend the deadline suggests a strategic push to consolidate control over NWR. The bidder also reserves the right to vary the offer terms in compliance with the Corporations Act, maintaining flexibility in response to market dynamics or shareholder feedback. This measured approach reflects the competitive and often delicate nature of takeover negotiations in the critical materials sector.
Looking Ahead
As the July 17 deadline approaches, all eyes will be on acceptance rates and any further announcements from Kinterra or NWR. The outcome will have significant implications for the ownership and future direction of New World Resources, a key player in the critical materials and infrastructure space.
Bottom Line?
Kinterra’s enhanced offer and extended deadline set the stage for a pivotal week in the NWR takeover saga.
Questions in the middle?
- What is the current level of shareholder acceptance relative to the 30% threshold?
- Will Kinterra further adjust the offer terms if the acceptance condition remains unmet?
- How will NWR’s board and major shareholders respond to the revised offer?
