UCL Resources Ltd : RELEASED
05/18/2012| 03:34am US/Eastern
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A.B.N. 40 002 118 872
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Tel: +61 2 9233 4750
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Suite 201, Level 2, Watson House 300 George Street,
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Postal Address:
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Fax: +61 2 9233 4749
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Sydney, NSW, Australia
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GPO Box 1494
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Sydney NSW 2001
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Australia
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Friday, 18 May 2012 ASX:UCL
Market Announcements Platform
Australian Securities Exchange
UCL announces scrip and cash offer for Minemakers
Up to A$9 million Convertible Note agreed with Mawarid
UCL Resources Limited ("UCL" or the "Company") is pleased to
announce its offer to acquire all shares in Minemakers
Limited ("Minemakers" or "MAK"), by way of an off-market
takeover bid.
Each company currently has a 42.5% stake in the Sandpiper
Marine Phosphate Project ("Sandpiper" or the "Project"), and
each company recognises the importance of having a single
entity to facilitate financing this Project.
Accordingly, under the offer MAK shareholders will receive:
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