"""""""""""""As I have mentioned before, IMO Kalahari and Extract are likely to combine soon. Mark Hohnen said he expected this to happen in Q1 of 2011 when we spoke at Kalahari's AGM. By my reckoning Kalahari had around ?23m of cash left, from their sale of their own shares to APAC and following subsequent modest purchases of Extract shares by Kalahari. Now, if the companies are to combine soon, it makes sense for Kalahari to buy as many Extract shares as it can with its remaining cash before the combination takes place. This would increase the proportion of the combined company that Kalahari shareholders would be entitled to. I.E. in broad terms, whatever proportion of Extract Kalahari owns at the time the combo is announced, Kalahari shareholders would expect to own jointly after the combination.
A combination of the companies could occur either by Kalahari simply issuing its Extract stock to its shareholders directly, as a dividend in specie, or by a merger between the companies, as was proposed in late 2008. Either way, I believe that Extract will end up having a London main market listing, to complement its ASX listing. IIRC this was mentioned in previous press reports and would explain why Extract now has a London corporate office, which Jonathan Leslie operates from.
It could be that Kalahari is running out of time, has decided "enough is enough", and is spending its remaining cash hoovering up Extract stoc..........""""""""""""""""""""
well they hoovered up EXT very well with last CR = all to KAH only
= EXT CR was initiated by KAH!! driven by the major KAH's shareholders ;)and not initiated by EXT board.
Why? ;) I think I know why = cheap merger is coming IMO and sooner is better to stop this price bots manipulation.
IMO If TO would be around the corner by some1 else (RIO, China etc) i am sure Hohnen/KAH would be pushing EXT price much higher to get high offer and this is not the case past few weeks.
EXT Price at posting:
$8.90 Sentiment: Buy Disclosure: Held
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