QUOTE:
"UMC director's windfall
The erstwhile board of iron ore junior UMC has shared a further $1.4M in rewards after cashing in options as part of a friendly takeover.
Most of the options had a $1.75 exercise price, compared with BHP's $1.30 a share offer.
The 5 UMC directors led by chief executice Matt Hogan and exploration boss Barry Fehlberg are expected to resign on Thursday under the takeover terms"
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