First Uranium - Offers Rejected Cut the bull about "another conditional offer." You, the BOD will not accept a conditional offer??? Well, let me tell you....your inadequate deals with Anglo and Gold One are full of conditions. As you stated in reference to the conditions.... "most are satisfied". Not all, but most. Give me a break. And you've had almost a year to get them satisfied and you still can't do it. I think the shareholders will decide on the 13th what they think of your rhetoric. What if MWS is voted down, what happens to Ezulwini? A condition??
And speaking of rhetoric and vagueness...take a look at the conditions shareholders are asked to accept.....approximate payouts that are subject to change based on the unknown (i.e. among other things) the results of your performance which are reflected in corporate costs to the end of the escrow period (Jan 2013???) and unknown payments to legal and other advisors.
Give me a break about conditions. Your offer to shareholders is totally conditional ....take what we have left over and we're not telling you what that is. You can say .22 to .33 but based on past performance and the conditions you've asked us to accept......I don't trust you or believe you.
| These amounts are approximate and subject to change due to, among other things, currency fluctuations (conversion rates for the above dollar values were based on the Bank of Canada noon rate as of June 4, 2012) and results of operations. |
| (2) | | | These amounts include, among other things, retention and severance payments, payments owing to Vulisango (Proprietary) Limited (the Company's Black Empowerment Partner) upon termination of the Management Agreement with Vulisango dated August 25, 2011, corporate costs to sustain the Company to the end of the escrow period and payments to financial, legal and other advisors. |
The balance of the funds held in escrow will be disbursed following the release of the escrow accounts. Assuming no claims are made, the amount available for distribution will be US$30 million which the Company intends to distribute as soon as legally permissible as follows: