rio take over offer my be coming

As my previous post is just a copy from another board,and not all of the Australians will know about all the details of the very complicated shareholder structures behind the scenes,i will try to explain the whole matter.

Until now it was a given fact,that KAH and Dattels had more than 50 % of the EXT shares.

Now today NWT a very tiny canadian company announced that they will try to change that.

How is this possible?

Well to get control over EXT,you will need control over KAH,or destroy KAHs 41 % stake of EXT,which is exactly what NWT is trying to do.

As a preliminary this are the majar shareholders of KAH:
1.Rio 13.48 %
2.Niger Uranium ( =URU) 13.24 %

So in case you could gain the control of URU and then combine your votes with RIO you would have a very strong position.

NWT is URS largest shareholder with ~ 35 % of the shares and 2/5 directors on the board.

Today NWT announced that they want an EGM,where URU should decide on forcing KAH to distribute at least 90 % of their EXT shares to their shareholders.

If this is successful,KAH will be absolutely unimportant in the whole game of chess.
Furthermore if this is successful,as said before RIO would end up with over 20 % of EXTs outstanding shares !!!

This would trigger a take over offer according to ASX rules.

We now have 2 votes in front of us,which could decide about the future of EXT.

1.URUs EGM where it will be decided wether NWT can take control over URU.
2.shareholder voting at KAH where it will be decided wether KAH will be forced to distribute their EXT shares.

IMO if RIO will want to make a take over offer,they will want to do it now,before EXT is able to prove a lot more resources,thus making the transaction way more expensive.

Very interesting weeks before us...