bid unlikely to suceed, page-5

re: bid unlikely to succeed I can't work out why Directors are promoting this takeover so fervently. They stand to make far more money by developing the project.

Director's holdings as at 30 June 06:
Ian Middlemas - 4,800,000
Matthew Yates - 400,000 + 1,800,000 options
Mark Pearce - 114,280
Glenn Whiddon - 1,900,000 options

If the takeover proceeds, 3 Directors will come away with a few $mil. However Kariba is a real company maker and in a few years time will be worth mega dollars.