First Uranium Corporation T.FIU

break fee

[dubsbs]

het colt if the russians make a bid    and mgnt entertains it do we have to pay a break feeof 2.? mill???????????

[uranicynic]

Considering a bid is free but accepting another bid would invoke the break fee. Usually the break fee is part of the negotiation process and would be factored into the higher bid.

[Critical_Mass]

Here is the relevant part of the contract explaining the break fee and what happens if FIU recieves a superior proposal.  If come May 30th and we vote no, I wonder if we would have to pay this.  My guess is no.   The Company has agreed to work exclusively with Gold One and has undertaken not to solicit any asset or share acquisition or proposal (“Alternative Transaction”) with

[colt451]

So... 1) Gold One has 5 business days to match the superior bid (next Friday)  2) We only pay the termination fee if there is a material breach by FIU of it's non-solicitation obligations  ****Now the question is did FIU soclit the bid, I do not think so, because the Russian/SA bid solicited FIU, so I do not think there is any termination fee. There is however, the 10mil credit

[Critical_Mass]

5 days once they agree to the new deal.  That hasn't happened yet.  There will be a news release when that happens, then 5 days.   We only pay the 2.5m if the Russians/SA end up with it. If Gold One matches we don't. There is definitly not solicited by FIU.  Yeah we will Still have to pay back the credit facility to Gold One.  But if the Russian SA bid is

[colt451]

Does anyone know if FIU is obligated to alert shareholders of the details of the new bid? They cannot simply ignore it and 'sweep it under the rug' as it were?  I think they are legally obligated to notify shareholders of the details within a certain period, but I'm not sure...and I am interested in what price has been offered for EZ....

[Hmmmmmmm]

Colt - Any material change must be reported to shareholders. Just like they advised us of the equipment breakdown at Ezulwini due to fall of ground...and how they told us about the timing of the layoffs and how many people lost their jobs due to poor management....and how they told us FIU would be profitable by last December when all the while they were concocting deals in the background....and

[lefmike1]

The time will come where Deon the NEONMetch will have to answer to this.  We have been taken for a ride.  Personally not myself but a lot of us have lost a significant sum of money and that is horrible.  I nearly sold yesterday just to rid myslef of this cancer.  Deon DA NEON I'm sure is nice and comforable in his well guarded estate away from the common folk who reside in&