I emailed Richard last night about the break fee, got reply back already.
Here is my Q
Richard
I wish to congratulate the EXT team on the outstanding drill results and maiden resource at Rossing South. However I’m a little concern with the shenanigans that KAH are performing. First we had an unnecessary expense of the EGM and now I believe they want to stop the appointment of the new director. I have one question for the board what does the board intend to do about the .5 million break fee that is own by KAH to EXT. I’m sure if it was EXT owing KAH they would be coming cap in hand for it. If they have the best interest of all share holders in proving up Rossing further then they should accept the decision of the board and save all the cost of lawyers, plus put .5 of a mill in EXT bank so we can make Rossing South look like a block of Swiss cheese.
His reply
Ray
First of all, thanks - but it's just the start.
On the matter of the break fee, we have taken legal advice and the fact that KAH pulled out of the deal BEFORE they held a shareholder meeting makes the break fee null and void. They pulled out on the advice that they would not get shareholder backing, not as a result of it.
As matters conspire, I believe the 500k is insignificant compared to the issue ahead.
Perhaps I can email you again tomorrow.
Best regards
Richard
EXT Price at posting:
$1.61 Sentiment: Hold Disclosure: Held
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