re: Ann: UCL:1.Takeover bid for Minemakers 2.... My tip would be 5 cents cash plus 1 UCL share for 1.2 MAK
5c x 230mill shares = $11.5mill
230mill divide by 1.2 = 191mill shares times .24c (current UCL shareprice) = $46mill.
Total offer = $57.5mill, MAK current marketcap is $41mill, so currently a 40% premium. Do I have it correct? Sounds reasonable if so. Might be looked at as opportunistic though considering 40% on MAKs current shareprice of 18c is 25c which is the shareprice of MAK just 1 month ago. Also what effect such a dilution of shares would it have on UCL shareprice?
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