Ann: UBN Announces Placement, Asset Purchase and Rights Issue, page-14

Of course the merit of having a long term investor, prepared to buy all shares offered for a price some 175% of the then price is significant. These guys have a track record of many years and over $1bn invested. No fools.

The new issuance dilutes in real terms but the acquisitions give immediate revenue and additional clients. Cross selling opportunities extraordinaire ahead!

For those who believe this is a diversification away from core business I would offer this logical explanation. UBN is a company that mechanises transactions. It is a provider of software solutions. Any transaction that can be mechanised provides a market place. The rationale is to deliver the service, cover base costs then reap the rewards with additional utilisation of the same, fully funded solution. We have all read about human jobs being substituted by computers. Whether we like it or not we have invested in a company that is in the vanguard hurtling towards the future.

Those that quibble about the management, my comments are simply that this Advisory Board is as strong a collection of experience as one could muster. The executive will benefit from a form of mentoring that most PLC entities could never dream of. Everybody is facing in the same direction, the future now has to be brighter than a week ago.