UCL Resources Limited (“UCL” or the “Company”) is currently the subject of an on-market takeover bid by Mawarid Mining LLC (“Mawarid”). UCL Director Dr Mohammed Al-Barwani is owner of 70% of MB Holding Company. Mawarid is a wholly owned subsidiary company of MB Holding Company. Therefore Dr Al-Barwani controls Mawarid and has a relevant interest in Mawarid’s shares in UCL Resources Limited.
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