RE:RE:RE:RE:RE:RE:a lot of cognitive dissonance going on here....there is no detailed breakdown, however, to get an idea of salaries, travel expenses etc, I suggest you go to Sedar and look at the latest financial statements and notes. In my opinion, the compensation is outrageous for an exploration junior with no cash flow. The customary practice is for management to be aligned with shareholders via stock options that have value if management can create a liquidity event, or increase valuation of the company.
Regarding the threat, I suggest you go to Sedar and read the information circular. From the circular:
In connection with the Arrangement, and pursuant to the terms of the Arrangement Agreement, Mr. Devinder Randhawa and Mr. Ross McElroy, are each entitled to receive retention bonus payments equal to$1,227,600 payable in Denison Shares. The number of Denison Shares to be issued as retention bonuses will be valued at the volume weighted average price of the Denison Shares on the TSX for the five (5) days immediately following the Effective Date. In addition, pursuant to the Arrangement Agreement, other Fission employees are entitled to receive retention bonus payments equal to $1,000,000 in the aggregate, payable in Denison Shares, allocated at the discretion of Fission. Paul Charlish, CFO of Fission, is also entitled to receive a retention bonus payment equal to $215,061, payable in cash or Denison Shares, at the election of Mr. Charlish. Since Devinder Randhawa and Ross McElroy hold more than 1% of the outstanding Fission Shares (assuming exercise of all Fission Options held), such Retention Bonus Payments they may receive as a consequence of the Arrangement are considered to be “collateral benefits” for the purposes of MI 61-101. The Retention Bonus Shares issuable in satisfaction of the Retention Bonus Payments, other than in respect of the $1,000,000 payable to Fission employees, are subject to approval by the Denison Shareholders. If Denison Shareholders do not approve the issuance of such Denison Shares, it is intended that the Retention Bonus Payments referenced in the Arrangement Agreement will be made in such manner as determined by the compensation committee of the Combined Company. In considering alternative forms of payment, the compensation committee will likely consider payment in cash or in a combination of cash and options. However in the event mutually acceptable terms cannot otherwise be agreed to, Mr. Randhawa and Mr. McElroy may elect to terminate their employment agreements and seek change of control payments in the amount of $1,860,000.00 each.
aristoenigma wrote: Regarding the following:
"Regarding the DML deal and vote, no shareholder should be in favour of the deal given the terms and lack of visiblility on the purported value of DML "assets", a "verbal" fairness opinion that no one can read or study, management "feather bedding" and on top of that, a threat by Dev and Ross to leave the company with a $1.8 million cash golden parachute if shareholders don't approve the proposed stock benefit to management that would accompany shareholder approval of the deal. "
What is the monthly nut of senior management.? Is it in line with other exploration cos.? When was that "threat" made?
TIA
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