Oscarwon, UCL has no common directors with the other companies. They are acting to try and protect their own interests, it's a bold, possibly unlikely, move but the right one for them to try. The opportunity has been made possible by the lowball bid from MAK in the first place. UCL have a different opinion of the value of the Namibian leases than that projected by the MAK takeover offer or the Target statement from BON.
ucl launches takeover bid for bon, page-44
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