OFF MARKET TAKEOVER OFFER
NORWEST ENERGY
16 December 2022
ASX:MIN
OUR SUCCESS HAS ALWAYS BEEN DRIVEN BY IDENTIFYING AND CAPITALISING ON
NEW OPPORTUNITIES
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OVERVIEW OF TAKEOVER OFFER FOR NORWEST ENERGY
Off-market | • Mineral Resources (ASX: MIN) (MinRes) Offer is one (1) fully |
paid ordinary share in MinRes for every 1,367 Norwest Energy | |
takeover Offer | |
(ASX: NWE) (Norwest) Shares (Offer) | |
Implied Offer | |
• The Implied Offer Price of $0.06 per Norwest Share represents | |
price | an equity value for Norwest of approximately $403 million |
• The Offer is attractively valued, with the Implied Offer Price | |
representing: | |
• a premium of 33% to the closing price of Norwest | |
Implied | Shares on ASX on 15 December 2022; |
• a 27% premium to the 1 month volume weighted | |
premium | |
average price of Norwest Shares up to and including | |
15 December 2022; and | |
• an 11% premium to the 52 week high of $0.054 for | |
Norwest Shares on 30 August 2022 | |
• The Offer is not subject to a minimum acceptance condition | |
Conditions | and is conditional only on there being no prescribed |
occurrences as described in section 652C(1) and section | |
652C(2) of the Corporations Act 2001 (Cth) | |
MinRes Offer | • 1300 916 995 (toll free for callers within Australia) and |
information line | +61 3 9415 4653 (for callers outside Australia) |
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Share price (rebased to 100)
GAS PROGRAM AND | ||||||||||||||||||
ONGOING GROWTH | ||||||||||||||||||
Lockyer Deep-1 well test update | ||||||||||||||||||
Lockyer Deep-1 exceeds | ||||||||||||||||||
pre-drill expectations | ||||||||||||||||||
MIN | NWE | |||||||||||||||||
1000 | Lockyer Deep1 gas discovery | |||||||||||||||||
Commenced gas exploration | ||||||||||||||||||
drilling in the Perth Basin | ||||||||||||||||||
800 | ||||||||||||||||||
Expanded gas | ||||||||||||||||||
exploration footprint | ||||||||||||||||||
600 | Became substantial | |||||||||||||||||
holder for NWE | ||||||||||||||||||
Acquired | Approved Lockyer Deep for | |||||||||||||||||
400 | Empire Oil & Gas NL | Drilling H1 2020 | ||||||||||||||||
Acquired ERM Power's
200
0
holding in Empire
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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TRACK
RECORD SNAPSHOT
TSR GROWTH -
SECOND HIGHEST IN ASX 200
35% PA
SINCE LISTING
UNDERLYING EBITDA
$7.4 bn
SINCE LISTING
DIVIDEND GROWTH
20% PA
FULLY FRANKED
AVERAGE RETURN ON INVESTED CAPITAL AFTER TAX
21% PA
SINCE LISTING
RETURN ON INVESTED CAPITAL AFTER TAX (ROIC)
SINCE LISTING
60%
50%
40%
30%
20%
10%
0% -10%
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
Annual ROIC | 4yr Rolling Ave ROIC | ||||||||||||||
CUMULATIVE RETURNS TO SHAREHOLDERS
GROWTH IN DIVIDENDS ($bn) - 10 YEARS TO 30 JUNE 2022
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
Invested Capital | Cumulative operating cash | Cumulative dividends declared | ||||||||
flow before interest and tax |
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Norwest Energy NL published this content on 16 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2022 22:12:02 UTC.