Key meeting in Fission-Paladin tie-up rescheduled
Canadian company Fission Uranium has urged securityholders to cast their votes in advance of the looming proxy deadline for its transaction with Australia’s Paladin Energy.
Fission on Monday announced the postponement of a special meeting of shareholders and optionholders to September 9 to give securityholders “more time to make their voices heard”.
The deadline for securityholders to return their completed proxies or voting instruction forms has been extended to September 5.
While the majority of votes cast to date support the takeover by Paladin, the votes were still less than the 66% required to approve the transaction, the Canadian exploration and development firm said in a statement.
The company noted that both independent proxy advisory firms, ISS and Glass Lewis, have recommended securityholders vote for the arrangement.
Paladin is seeking to acquire Fission for C$1.14-billion, creating a global uranium company with assets in Canada, Namibia and Australia.
The acquisition will integrate Fission’s assets, including the advanced-stage Triple R deposit at the PLS project, in Canada’s renowned Athabasca basin, with Paladin’s existing portfolio.
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