re: Ann: DOW: Downer secures $120 million Kar... With reference...

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    re: Ann: DOW: Downer secures $120 million Kar... With reference to the above.

    Ansteel's effective holding of Karara (KML) is:

    50% directly in KML

    15.5% via it's 31% holding in GBG (GBG owns 50% of KML so 31% of 50% = 15.5%)

    So total effective Karara interest = 65.5%

    Thankfully Ansteel's voting power is only 31% of GBG, so it cannot affect GBG's direct votes in KML.

    Make sense? I'm a financial accountant, i've trade to make it as simple as possible :P
 
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