ucl takeover bid for bon, page-6

The underwriter is John Dieter Kahlbetzer who owns the Twynam Agricultural Group which is one of the major shareholders (4.53%) that have come into UCL on the back of Sandpiper.

http://www.twynam.com/index.php

It almost certainly won't win BON for UCL but it will give UCL $4 million with which to move forward. This could result in 2 developments:

i. That may be sufficient to go it alone with Sandpiper to BFS and pull out of the JV as all the best things in the JV comes from UCL anyway (best tenements, dredging partner, potential offtake partner). That would be a significant win for UCL shareholders as they gave up over 50% of Sandpiper for the less prospective, possibly marginal, Meob tenements in the JV. Meob needs Sandpiper but Sandpiper doesn't Meob.

ii. If MAK does want to take over UCL some time down the track the price probably just went up. There won't be any sneaky opportunities to snap up UCL like there was with BON.