RE:RE:RE:RE:RE:SELL YOUR SHARES - CEO shouted.r.s.g. wrote: Stock-blogger wrote: "As for the shareholder quesiton about the staff bonus, I run my company and if I got bought out and was going to be responsible for running the new company I'd want my entire team with me and would do everything I could to shut the deal down if I couldn't incentivise my team to join me."
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FCU managment has a fiduciary duty to act in the best interest of its shareholders, not its employees. If you're the ownder of a private company you can do whatever you want, but FCU is a public company. If Dev thought that this was such a good deal for the shareholders then how could he justify walking away from it without his neglecting his repsonsibilities to the shareholders. Dev's comments follow.
“I was willing to walk away from this deal if all the Fission staff couldn’t keep their jobs,” said Randhawa.“I also said there was no deal if there wasn’t a bonus for the staff.”
The staffers will share $1 million in bonus money, about $40,000 each.
He clearly felt that part of the merger being a good deal (and by the way I think it's a bad deal overall) is that the merged company will keep the team that had made FCU so successful and tnat if it doesn't keep the team, the merged entity will be less of a good deal for FCU shareholders. Take the technical team for example. McElroy may have won the awards but he's got some great technical guys supporting him - maybe the best guys in the uranium exploration business. Those are people you want doing your exploration.