Kinterra Raises NWR Bid Price by 4.8%, Signals Further Increase at 30% Stake

Kinterra Raises the Stakes

Kinterra Capital GP Corp. II, acting as the general partner of Kinterra Critical Materials & Infrastructure Fund II, LP, has issued its fourth supplementary bidder's statement in the ongoing takeover battle for New World Resources Limited (NWR). The key highlight is an increase in the offer price from A$0.063 to A$0.066 per NWR share, representing a substantial premium over recent trading prices and a recent placement price.

This price hike is not just a token gesture; it reflects a 135.7% premium over the closing price on May 20, 2025, and an even more striking 230% premium over a placement price from March 7, 2025. Such a premium signals Kinterra’s strong commitment to securing control of NWR and underscores the competitive nature of this takeover contest.

Unconditional Offer and Faster Payment

Alongside the price increase, Kinterra has declared the offer unconditional, removing previous conditions that may have delayed shareholder decisions. The payment timeframe has also been shortened to five business days from acceptance, a move likely designed to incentivize shareholders to accept promptly and reduce uncertainty.

This unconditional status and expedited payment terms enhance the attractiveness of Kinterra’s offer, potentially putting pressure on shareholders who might be weighing competing bids or awaiting further developments.

Further Price Upside on the Horizon

Kinterra has also introduced a conditional clause that could see the offer price rise further to A$0.067 per share if its relevant interest in NWR exceeds 30% by 5pm AEST on July 24, 2025. This threshold is significant as crossing it would strengthen Kinterra’s position and possibly trigger further momentum in the takeover process.

The potential for a further price increase adds an intriguing dynamic to the bid, suggesting Kinterra is prepared to escalate its commitment to outbid rival suitors and secure shareholder support.

Competitive Edge Over CAML

Kinterra explicitly states that its revised offer remains superior to the competing bid from CAML, which currently offers A$0.065 per share. This assertion is critical in the context of shareholder decision-making, as it positions Kinterra as the more lucrative option.

Moreover, Kinterra has indicated its willingness to provide interim funding to NWR under terms similar to those proposed by CAML, signaling a readiness to support NWR’s operational needs during the takeover process. This financial backing could sway stakeholders concerned about continuity and stability.

On-Market Purchases and Market Activity

To further consolidate its position, Kinterra has appointed Moelis Australia as its broker to conduct on-market purchases of NWR shares at or below the offer price. This strategy allows Kinterra to incrementally increase its stake outside the formal offer process, potentially accelerating the path to the 30% ownership threshold.

Investors should watch these on-market transactions closely as they may provide early signals of Kinterra’s growing influence and the likelihood of a successful takeover.