The paragraph below from the KAH announcement seems to indicate...

The paragraph below from the KAH announcement seems to indicate that they wish to raise an additional 46m shares which if correct is probably to increase their EXT stake using the 3% creep provisions.

KAH agreed to a maximum 40% of EXT ONLY when RIO threatened to block their capital raising by teaming up with Coronet Resources which gave them a combined +25% of KAH.

The KAH capital raising was heavily oversubscribed and only initiated in the first place on the request of major shareholders and new institutions wanting a piece of the action.

KAH will no doubt be still smarting from the "arrogant RIO manoeuvre" and will be trying to dream up any conceivable way of issuing shares to buy another 3% of EXT to further put the pressure on RIO.


PART OF KAH RNS ANNOUNCEMENT
Following the issue of the Placing Shares the Company has exhausted nearly all of the authority granted at the AGM in relation to the general disapplication of pre-emption rights. Accordingly, in substitution for all previous authorities granted at the AGM, the Company is seeking, pursuant to section 80 of the Companies Act 1985 (the "Act") Shareholders' consent to the renewal of, and an increase, in the general authority to issue 65,622,974 ordinary shares of 1 pence each in the Company (the "Ordinary Shares") and/or other securities and pursuant to section 95 of the Act, to disapply pre-emption rights in relation to 19,686,892 Ordinary Shares and/or other securities.