GAA was purchased in 2009, details below. What a disgraceful...

GAA was purchased in 2009, details below. What a disgraceful share


"Acquisition of Geoscience Associates (Australia) Pty Ltd
The directors are pleased to announce that the Company has signed a binding agreement to purchase
the assets and business of Geoscience Associates Australia Pty Ltd (GAA), a geophysical logging
company located in Mount Barker, South Australia (the Acquisition). Financial closing of the
transaction is expected in September 2009.
GAA has been providing a full range of commercial wire-line logging services to the mining and
exploration sectors, principally focused on uranium and more recently also on coal and coal seam gas,
throughout Australia since 1971. GAA is the sole distributor for Prompt Fission Neutron (PFN)
technology in Australia and the only provider of commercial PFN logging services in Australia. The
acquisition includes management and a team of highly skilled professionals with a broad range of
borehole logging expertise. GAA will be held as a subsidiary company and will continue to operate
independently with regards to the preservation of confidential information of GAA’s clients.
The purchase price payable under the Agreement for the Acquisition of GAA is $5 million (subject to
asset register adjustments), payable in cash at settlement, together with five million UXA shares to be
issued at settlement.
The Company intends to fund the Acquisition with a combination of funds from the Placement and
bank financing which has already been approved by the relevant bank.
A General Meeting of shareholders of UXA will be called shortly to approve the Acquisition and the issue
of shares in UXA via the Placement."