stayhereThanks for pointing out my error, it makes a substantial...

stayhere


Thanks for pointing out my error, it makes a substantial difference. I thought KAH holders were getting the rough end of the deal but it looks more even now.
The question of options is not an easy one to answer. In the full year accounts there were 9.25m options of which 1.5m have since been exercised. Since then, an additional 3.65m have been granted, but Peter Mac resigned and presumably forfeited his options. I'm not sure how many he held in total, but it was at least 500k granted last October.
Do you know many options/warrants are outstanding for EXT?

Can you check these figures for further mistakes

KAH 166,559,130 shares in issue @ 24/06/2008
EXT 212,720,414 shares in issue @ 11/08/2008
212,720,414 - 39.11% = 129,525,460 * 1.6 = 207,240,736 additional KAH shares to be issued to EXT holders (excluding KAH)
207,240,736 + 166,559,130 = 373,799,866 Shares in issue after merger.
166,559,130 / 373,799,866 * 100 = 44.56% percentage of newly enlarged company owned by KAH share holders
207,240,736 / 373,799,866 * 100 = 55.44% percentage of newly enlarged company owned by EXT share holders


Dec 2006, KAH swapped it's 49% of the uranium projects for 36% of EXT's share capital. KAH maintained it's percentage throughout fund raising events and eventually rased it's stake to 39.11%.

KAH holders owned the whole of KAH + 39.11 % of EXT and will own 44.56% of the combined companies.
EXT holders have swapped their 60.89% of the Uranium project for 55.44% of both companies.