UNV 0.00% 16.0¢ universal coal plc

Ann: Indicative Non-binding Proposal - Scheme of Arrangement, page-16

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    Given that one of the conditions is that they enter into an agreement with the company, i can not see the independent directors signing an agreement at the proposed price, also the suitors might need to look at the books, they will need a better offer to get access to all the data, the directors can use this as leverage to get a better offer
 
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