mak offer doesn't recognise benefit of 75%, page-16

Seals,

The UCL bid is probably worth less than 4c. About to go to .5c and after all the shares issued (if it in fact happens - get out clauses galore) it'll drop further from there. MAKs rights issue is valued more than that.

Accepting the UCL offer would be the last of 3 options you would choose, surely. MAK is the best offer, followed by selling your BON shares outright. UCLs bid was a joke. Clear and plain as day now.

Kudos to nobull for bringing up the 75% comment, its exactly what MAK were after, and now they have it. UCL would be lucky to have 2% of BON. Was an intriguing battle but we have checkmate now.