Substantial Shareholder Notice from Xstrata:Relevant Interest...

Substantial Shareholder Notice from Xstrata:

Relevant Interest plus IAF:
18/01/08: 66.25 mil shares (50.62%)
21/01/08: 62.25 mil shares (47.57%)
22/01/08: 61.13 mil shares (46.71%)


IAF: Institutional Acceptance Facility
18/01/08: 22.777 mil shares (17.4%)
21/01/08: 18.263 mil shares (13.96%)
22/01/08: 16.553 mil shares (12.65%) …. 6 million acceptances withdrawn


Relevant Interests:
18/01/08: 43.469 mil shares (33.21%)
21/01/08: 43.992 mil shares (33.61%)
22/01/08: 44.575 mil shares (34.06%)


Questions I put to Xstrata help line --- they emphasize that it is not an advisory line:


Question 1: When is payment due if we accept the offer?

Answer:
5 days after acceptance by the JBM shareholder once the offer declared unconditional.
Presently the offer will be declared unconditional upon reaching 90%, although XNA intends to review its conditions to the offer by 31st January.



Question 2: Why do Xstrata keep Extending the Offer period?
If it was due to expire 31st Jan I would soon be accepting the offer, but now we wait closer to 15th February, will they extend again?

Answer: Could not answer (which is fair enough)



Question 3: Why is the IAF withdrawing their acceptances at such a rate --- 6 million acceptances out of a total 22.7 have been withdrawn since 18th January?

Answer: Could not answer (which is also fair enough)


If they declare the offer unconditional they can have mine very quickly.