Butcherboy, my understanding of the recent UBS clarification is...

Butcherboy, my understanding of the recent UBS clarification is that it is in response to IGRs request to know who UBS is buying for.

From what I gather in section 4., the majority holding through UBS AG London of 23,708,768 shares is for Citicorp Nominees. (not PALA)

Whether PALA is behind Citicorp I don't know, although I would suspect not. However, if you read the article properly, UBS retain right as prime broker with the power to control and exercise disposal of shares subject to prime brokers agreement. Does this mean they can later transfer said shares to a nominated client? (PALA) I would presume yes.

If CC has asked his lawyers to seek clarification of the UBS transaction, then he is clearly worried about takeover or others gaining leverage.

My only concern is that is yet another fund looking for a 10% gain before they dump. I hope i am wrong here as IGR has much more going for it then pump and dump.

mm