Peregrine Diamonds Ltd. PGDIF

Eric Friedland - change of contorl clause

[ekim]

Everyone should already know that Eric gets a $600K change of control type payment (Same with tom/Grutter/Shenton).

But here is the fine print:
Payable in the event of termination within 6 months of a change in control or resignation within 3 months of a change of control before accepting any renewed terms of employment following the change of control.

So, technically Eric will be employed for at least a day with De Beers Canada who is owned by De Beers who is owned by 85% Anglo and 15% Government of Botswana.

Eric will be an employee of Anglo and the Government of Botswana.

that is until he resigns or gets terminated......or unless a whiteknight still shows up :)

LONG...WHITEKNIGHT!!!!

EKIM

[Oregonduck]

They are called "Golden Parachutes" for obvious reasons and most public companies have them...As for a "White Knight" interfering in the current takeover which was just approved by 98.3% of shareholders, there is a zero chance of that happening. Peregrine expects to apply for a final order from the Supreme Court of British Columbia for approval of the arrangement on Sept. 10