whats best for ext , page-9

Very good point Fordtin.

I think Peter Mac and other board members are large shareholders themselves and would be reticent to put themselves in a situation where they cede all control to RIO (they have had enough headaches with KAH).

Therefore I think it unlikely that existing board members (other than John Main) would vote in favour of an "official" RIO board member.

However, if RIO were to accumulate a 40% stake they would have every right to insist on two board members.

For them to buy another 25% (to supplement their existing circa 15%) would not be an easy task unless there is a large and distressed holder.