News Release - Shareholders Rights Plan
FOR FURTHER INFORMATION PLEASE CONTACT:
Denison Mines Limited
Chris W. Jamieson
(416) 979-1991 Extension 210
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: DENISON MINES LIMITED
TSE, ME SYMBOL: DEN
AUGUST 21, 1997
Denison Announces Shareholder Rights Plan
TORONTO, ONTARIO--Denison Mines Limited announced today its Board
of Directors adopted, effective immediately, a shareholder rights
plan designed to encourage the fair treatment of shareholders if
there were to be an unsolicited takeover bid for Denison.
Denison said the rights plan will provide the Board and the
shareholders more time to fully consider a bid if one is made and
protect shareholders from unfair, abusive or coercive takeover
strategies, including "creeping" takeover bids.
Should any party acquire 20 percent or more of Denison's common
shares without complying with the rights plan or without Board
approval, each right, other than rights held by the acquiring
person, would entitle its holders to purchase common shares of the
company at a 50 percent discount to the market price at the time.
Under the plan, a permitted bid is a bid made for Denison's shares
to all shareholders that is open for not less than 60 days. If at
least 50 percent of the outstanding shares have been tendered at
the end of 60 days, the bidder may take up and pay for the shares
but must extend the bid for a further 10 days to allow other
shareholders to tender to it.
Denison said the rights plan will be effective immediately and
shareholders will be asked to ratify the plan at our next meeting
of shareholders which is currently scheduled for April.
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