"the EXT Appendix 3B issued 11 April had 250,021,608 shares on...

"the EXT Appendix 3B issued 11 April had 250,021,608 shares on issue, yet last night's App 3B reduced this no, but I'm not clear on how this comes about"

Surfrat

Looks like an amended 3B was issued directly beforehand which changed the 11/4 figures.


Also ref below from Appendix 1 of the proposed offer which shows the details of the £756m outlined by Gero.

Kalahari's fully diluted share capital (being 267,215,894 Kalahari Shares) is calculated upon the basis of:

(a) the current issued share capital of Kalahari as referred to in sub-paragraph 1 above; and

(b) a further 21,791,316 Kalahari Shares which may be issued on or after the date of this announcement, on exercise of the Options and Convertible Loan Notes, as has been confirmed by Kalahari.

3. The value of Kalahari's fully diluted share capital under the terms of the Possible Offer (also equal to the value of the Acquisition) is based on the Offer Price of 290 pence per Kalahari Share and fully diluted share capital of Kalahari as set out in sub-paragraph 2 above, less potential cash proceeds of £19,070,000 resulting from the issue of Kalahari Shares which may be issued on or after the date of this announcement.


In regard to KAH's current cash on hand: KAH has approx £25m cash (£64m on 31/12 less about £38m for the EXT CR). Which hopefully means we can squeeze another 14c Aus per share out of CGNPC.