lse 30 perecnt takeover rule, page-10

Good afternoon Martin and good evening to everyone else,

I just had a browse through the old KAH announcements and it's intriguing comparing the significant holdings given on the website with the announced changes and last years website figures.
Would it be reasonable to assume that the Cenkos Channel Islands account for the Niger holding and Euroclear are the new hiding place for the Blakeney LLP shares? HSBC Global Custody Nominee(UK) Limited holds exactly the same amount as City Natural Resources once held which would leave Geiger Counter and Henderson hiding in either Pershing or the Bank of New York.

166,559,130 * 3% = 4,996,774
N.B. any changes to a holding above this figure which cause it to cross a whole percentage point (up or down) must be reported "without delay"

Significant holdings reported since admission to AIM
(I've excluded any which have been superceded by a later change or reduced to below 3% via dilution)

10 September 2008 - Rio Tinto - 24,817,310 - 14.9%
08 September 2008 - Rab Capital - 5,227,747 - 3.14%
25 June 2008 - CQS - 11,716,667 - 7% [comprising (City Natural Resources - 6,716,667 - 4%),( Geiger Counter - 5,000,000 - 3% )]
17 April 2008 - Niger Uranium - 27,680,000 - 16.62%
15 April 2008 - Blakeney LLP - 17,840,000 - 10.71%
25 March 2008 - Henderson Global Investors Ltd - 6,400,000 - 3.84%

from KAH website

Key Shareholders as at 22 May 2007
RAB Special Situations (Master) Fund Ltd 18,394,577
Coronet Resources Ltd ... 16,000,017
RAB Energy Fund Ltd ..... 4,897,964
Willbro Nominees ........... 4,027,215
Philip Richards ............... 4,027,215
FMR Corporation ............ 3,482,996
M.A. Hohnen .................. 3,047,622

Key Shareholders as at September 2008
Cenkos Channel Islands Nominee Company Limited 27,780,000 - 16.679%
Rio Tinto International Holdings Australia Pty Ltd 24,817,310 - 14.900%
Euroclear Nominees Limited 18,106,200 - 10.871%
Coronet Resources Limited 16,000,000 - 9.606%
Pershing Nominees Limited 10,915,900 - 6.554%
The Bank of New York (Nominees) Limited 8,366,000 - 5.023%
HSBC Global Custody Nominee (UK) Limited 6,716,667 - 4.033%
The Bank of New York (Nominees) Limited 5,968,701 - 3.584%
Pershing Nominees Limited 5,835,300 - 3.503%
BNY (OCS) Nominees 5,200,000 - 3.122%

The EXT announcement dated 16th Dec 2005 suggests that Coronet are controlled by EXT directors, hopefully some of the long term holders here might be able to provide more detail.
http://www.asx.com.au/asxpdf/20051216/pdf/3ts7y8r9f1q0s.pdf


I think this is the rule Martin was referring to;

SECTION F. THE MANDATORY OFFER AND ITS TERMS
RULE 9
9.1 WHEN A MANDATORY OFFER IS REQUIRED AND WHO IS
PRIMARILY RESPONSIBLE FOR MAKING IT
Except with the consent of the Panel, when:—
(a) any person acquires, whether by a series of transactions over a
period of time or not, an interest in shares which (taken together with
shares in which persons acting in concert with him are interested) carry
30% or more of the voting rights of a company; or
(b) any person, together with persons acting in concert with him, is
interested in shares which in the aggregate carry not less than 30% of
the voting rights of a company but does not hold shares carrying more
than 50% of such voting rights and such person, or any person acting
in concert with him, acquires an interest in any other shares which
increases the percentage of shares carrying voting rights in which he is
interested,
such person shall extend offers, on the basis set out in Rules 9.3, 9.4
and 9.5, to the holders of any class of equity share capital whether

http://www.thetakeoverpanel.org.uk/new/codesars/DATA/code.pdf
(page 110)

LE - glad you enjoyed the break, I hope Harlee will rejoin us now the board is getting quieter.