China Guangdong Nuclear Power Group Acquires Kalahari Minerals Plc.| December 8, 2011

On December 8, 2011, Kalahari Minerals PLC, an Australian uranium mining company listed on the London Stock Exchange, announced that it had approved an offer by Chinese State-owned enterprise China Guangdong Nuclear Power Group to acquire its shares for £632 million ($991 million) cash. Once the transaction succeeds, China Guangdong Nuclear Power Group will acquire Perth, Western Australia based Extract Resources Ltd. for $2.2 billion.

Kalahari Minerals is the largest shareholder of Extract Resources, in which it owns a 42.79% stake. Extract Resources owns 100% of the Husab mineral resources project in Namibia, and in August increased Husab' s reserve estimate by 37% to 320 million tons, making it the world' s fourth largest uranium mine. According to Bloomberg data, if China Guangdong Nuclear Power Group successfully acquires Extract Resources, it will be the second largest foreign acquisition by a Chinese company in history.

King & Wood served as the sole PRClegal adviser to China Guangdong Nuclear Power Group. This project was led by Huang Jianwen, a partner in King & Wood' s Beijing Office.