May or may not have anything to do with EXT "U" but 75% chance...

May or may not have anything to do with EXT "U" but 75% chance it does imho. Time will tell!!!

Regulatory Announcement
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Company Kalahari Minerals PLC
TIDM KAH
Headline Conversion of Securities
Released 12:19 05-May-06
Number 5201C

Kalahari Minerals Plc



Conversion of convertible loan notes (“Loan Notes”)



Kalahari Minerals Plc (“Kalahari” or “the Company”) announces that RAB Special Situations (Master Fund) Limited (“RAB”) have converted £500,000 Loan Notes in accordance with the terms of the instrument dated 27 September 2005. The conversion of the Loan Notes results in Kalahari being now totally debt free.



Including accrued interest on the Loan Notes of £24,983 the total convertible sum is £524,983 at 10p per share, resulting in the issue of 5,249,830 new ordinary shares.



Application will be made for the 5,249,830 new ordinary shares to be admitted to trading on AIM. RAB are now interested in 25,249,830 ordinary shares, representing 25.37% of the Company.






END.