will it power on monday, page-14

Simrose, the proposed merger in the UK was to be via a scheme of arrangment, to be voted on by shareholders it was not technically a takeover under UK rules. The threshold level, ie the shareholding level beyond which you have to make a bid under the UK rules (Blue Book ) is 30%.


What is important is that no bid from Rio or anyone else is going anywhere without first securing Kalahari/Dattels approval , ie dont expect a bid to just be lobbed in , that is not going to happen. Rio or anyone else will have to sit down and negotiate and the takevoer terms agreed in the absence of a higher offer (which could of course eventuate eg Cameco_

The threshold for takeovers in AUstralia is 20%. Therefore Kalahari/Polo/ Dattels etc can now only buy 3% more every six months under the takeover rules or they have to make a full bid for the remaining shares in EXT they dont own at a price no lower then any price they paid in the last 3 months .

THis is assuming that they would all be treated as associated parties "acting in concert" which it seems pretty clear that they are.