A summary of Who gets What in this proposed dealSubject to the terms set out in the binding agreement, Fission common shareholders will receive 1.26 common shares of Denison for each common share of Fission held -- the offer -- represents a premium of approximately 18 per cent to the 30-day volume-weighted average price of Fission's shares -- at July 3, 2015.
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Dev Randhawa will become the chief executive officer of the combined company. Ross McElroy will be appointed president and chief operating officer
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Denison shareholders will also be asked to approve a two-for-one share consolidation that will take place immediately following the closing of the transaction
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Mr. Devinder Randhawa and Mr. Ross McElroy, are each entitled to receive retention bonus payments equal to $1,227,600 payable in Denison Shares. -- 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 -- 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 $1,860,0001 each.