Post by
phoenix_trader on Oct 13, 2015 4:58pm
Just change to Canexus and Superior ' vote NO
Finally in October, Lukas Ludin, Dev and Denison CEO, David Cates, put on a town hall meeting in Toronto. Shareholders were tense and the atmosphere was palpable as Dev was assailed by questions in regards to the merger. When questioned about the quality of the deal, he responded that there was no better deal for Fission available and said the company was also paying for the mistakes this industry has made, referring to the overpaying for assets in the recent Rio Tinto $654 million takeover of Hathor Exploration. Randhawa went on to affirm that, I would not do anything to screw our shareholders and when he was finally questioned about $1.2 million being given to certain officers and directors who would be transitioning to new positions in the merged company, he answered in true Dev form, That million was for my staff, and thats why the 99% hate the 1%. If you do not like that, then you can sell the stock. Retail investors remained reticent, despite the trios protestation that the Fission Denison merger was in everybodys best interests and today that doubt came to a head when the transaction failed to get a two-thirds shareholder approval, effectively killing the deal. But the issues raised during this battle continue with certain shareholders calling for Devs removal as Fission CEO, alleging he is autocratic, out-of-touch and, along with the rest of the management team, a spendthrift in a time when the company needs to be cost conscious. It will be interesting to see how this fallout unfolds over the coming weeks. Read more at https://www.stockhouse.com/news/newswire/2015/10/13/fission-denison-merger-gets-thumbs-down-shareholder-majority#EzAO6SYm5Bvfa2P4.99
Comment by
Kherson on Oct 13, 2015 6:04pm
This post has been removed in accordance with Community Policy
Comment by
rustyblades on Oct 14, 2015 10:34am
When I heard the Fission - Denison merger was voted down I immediately thought of the similarities of the two deals and that a Canexus NO vote might still be possible. As I stated before, I'm voting no