Fission Uranium Corp (TSX: FCU) has announced that Institutional Shareholder Services Inc. has completed their analysis of the previously announced plan of arrangement with Paladin Energy Limited (ASX: PDN) and ISS recommends shareholders of Fission vote for the arrangement.
The special meeting of Fission security holders is being held on 26 August 2024 at 10:00am to consider the arrangement, whereby Paladin will acquire all of the issued and outstanding shares of the company, and in return Fission Shareholders will receive 0.1076 shares of Paladin for each Fission share held.
In their analysis, ISS notes the “offer consideration represents a substantial premium of 25.9% over the price on the day prior to the announcement,” “makes strategic sense”, and that “it is anticipated the transaction will enhance value for shareholders through ownership in a company with growth potential, increased liquidity, improved cash flow, and is expected to benefit from an enhanced capital markets presence.”
ISS concluded the arrangement to “represent the best alternative among the opportunities available to improve the ability to increase shareholder value” before recommending Fission Shareholders vote in favour of the Arrangement.
As an independent proxy advisory firm, ISS has approximately 3,400 clients including many of the world’s leading institutional investors who rely on ISS’ objective and impartial analysis to make important voting decisions.
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