"i don,t see the price of Aru shares improving drastically even in the event of the mining law being drafted or K not reaching 90% because the funds and the large institutions have us ,retail investors,rapped up financially really well."

I much prefer to have the views of a judge on this point providing K does not have 90%.

As I recall a lawyer (Phil Anisman) on BNN outlined takeover procedures & requirements. It is essential that K has less than 90% of ARU on Sep. 15/08.

That being the case & K proceeds with their plan to acquire all shares of ARU, they must call a shareholders meeting & confirm a sh.vote which must exclude certain insider shs. So the vote would be some thimg like 40% for & 15% against.

If K calls this meeting they must 1st give Notice which probably means the meeting could not take place until sometime in Oct. which would be after the Constit. vote.

As part of this procedure K must also go before a judge & justify the price they are paying but now presumably the mining climate would be considerably improved & thus the value of ARU i.e. political risk.

If K gets more than 90% the hurdles are much lower.

DON'T TENDER!!