Deal will close by June 30, 2013.
Recall ARMZ is positioned to acquire all of the outstanding shares of UUU for C$2.86/share in cash.
On March 7, 2013, approximately 95.7% of the votes cast by holders of UUU common shares, as well
as 95.7% of the votes cast by holders of UUU common shares and options voting together as one
class, voted in favour of the plan of arrangement with ARMZ. UUU management expectsto complete
the transaction during 2Q13.
The company reiterated its expectation that the deal will close by June 30, 2013. We understand
there are several international regulatory approvals that remain outstanding. Although no details
were provided, we suspect they relate to approvals from the government of Kazakhstan. Our
recommendation to tenderto the C$2.86/share bid assumes allregulatory approvals are granted.