Certain directors and officers may serve from time to time as directors, officers, promoters and members of management of other public companies and therefore it is possible that a conflict may arise between their duties as a director or officers of the Company and their duties as a director, officer, promoter or member of management of such other companies. In particular, Mr. MacLachlan is currently a non-executive director of Kalahari, a principal securityholder of Extract; Mr. Dattels is currently Executive Chairman of Polo, a principal securityholder of Extract; and Mr. McFadden is an employee of Rio Tinto, a principal securityholder of Extract. In this regard it should be noted that Kalahari has entered into an advisory services agreement with Chiropo Company SA (Chiropo) whereby a success fee is payable in the event of a successful sale of Kalahari or its stake in Extract. Chiropo is beneficially owned in part by Mr. Dattels, a director of Extract. It should also be noted that both Rio Tinto and Polo, Mr. Dattels and associated entities thereof have a material interest in Kalahari.
EXT Price at posting:
$8.49 Sentiment: Hold Disclosure: Held
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