Ann: Takeover Bid - Independent Expert's Repo, page-4

re: Ann: Takeover Bid - Independent Expert... Our directors are completely and totally Iran daft, IMO. The defence document starts out well, but the real "bang your head on the wall and don't read any more" was this:



If we are owed what we spent on Mehdiabad and a discovery fee, then fair value for UCL is a great deal more than 46 cents a share. Our directors seem to be inviting Drummond to bid just that. They won't have a leg to stand on if Drummond bids such a derisory amount of 46 cents.

Things are moving in the right direction for regime change at some point in Iran and some experts think Iran's ally, Syria, will suffer slow economic strangulation. I will not be surprised if Drummond bids 46 cents (1.5 in old prices - Sisyphus - condemned to divide by 30 for the rest of my natural), and I am not interested even if he pays cash: I prefer to see our share price bomb to the old value of 0.5 cents again.