Spoke with EXT this morning. They are awaiting clarification on this Epangelo thing and a will advise if and a when etc. The impression however at their (EXT) end is that it's business as usual and this impression was based on extremely recent contact with Nab govt.
Re the Chinese offer for KAH, they say that ASIC has yet to respond re EXT's submission but that the ASIC default position would appear to be that a see through offer for EXT would be commensurate with the KAH offer, and at 20%+ ownership ( of EXT), would be triggered. Indeed, if you read the original offer text, the Chinese, in the part outlining the break-fee triggers and waivers, seem to state a preparedness to make such a downstream offer. Also, as I understand it, the ASIC ruling as sought by EXT was to ensure offer value parity for SH and not to question the +20% ownership aspect. All this should happen next week folks, according to the original offer calendar. All IMHO of course.
EXT Price at posting:
$7.61 Sentiment: Buy Disclosure: Held
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