Western Wind Energy Corp V.WND

Question

[modgil]

I am a shareholder. If I tender my shares to BEP @ 2.60, and BEP gets more than 50% that they require, does that mean that my shares will be taken by BEP at 2.60/share.However what is the guarantee that the shareholders who do not tender their shares still get 2.60, if BEP is successful. BEP might not want to buy the remaining shares @ 2.60 after becoming the major shareholder after Monday. What will decide the price for the remaining shareholders if this bid is successful.

Any opinions ??

[Intravires69]

modgil, WND will still be a publicaly traded corporation and the shares will continue to be traded so despite BEPtaking up shares at $2.60, the share price of untendered shares will be determined by the market as they always. Of course, it is likley that BEP will try to take WND private and my post fromlast night discusses that process.  

[Intravires69]

Most companies have shareholders rights plans which provide that a permitted bid must allow for one further extension of 10 days to allow tendering past the closing date if the minimum requirement (50% usually) is met.  This is to take pressure off shareholders.

[modgil]

Thank you for your comments. Do we know if WND has a shareholders rights plan like the one you mentioned (10 day extension). I am thinking of tendering my shares tomorrow.  

[Intravires69]

I will have to say do your own due diligence, but I can say that the shareholders rights plan adopted in 2005 that I read on SEDAR does in fact have the further 10 day period attached to it.