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
APRIL 7, 1998
Denison Mines Limited Shareholder Rights Plan Amendments
TORONTO, ONTARIO--Denison Mines Limited announced today that its
board of directors has, subject to regulatory approval, amended
its Shareholder Rights Plan dated August 21, 1997. The board is of
the view that the Rights Plan, as amended, continues to adequately
protect shareholders' interests and is more consistent with recent
rights plans adopted.
The significant changes from the terms previously described in the
February 23, 1998 Notice of Annual and Special Meeting of
Shareholders are (i) the narrowing of the situations in which a
person is considered to beneficially own securities of Denison,
(ii) removing the ability of the board to designate an earlier
"separation time", (iii) potentially shortening the period that a
competing bid must remain open to 60 days from the date the
earliest permitted bid was made, (iv) removing the 50 percent
threshold of shares that must be picked up under a permitted bid
before the board is required to redeem the rights, (v) requiring a
shareholder vote in certain instances before the board may redeem
the rights, (vi) providing that a lock up agreement will not
trigger a "flip in event" so long as the shareholder is allowed to
withdraw the shares in order to tender to another bid containing
at least a 5 percent higher price, and (vii) changing the time
period of the Plan to the first annual meeting following August
21, 2000.
Denison shareholders are being asked to confirm the Rights Plan at
the shareholders meeting being held on April 14, 1998. The board
continues to recommend that shareholders confirm the Plan. At the
meeting, management intends to vote supporting proxies in favour
of the amended plan.
Copies of the Plan, as amended, may be obtained upon request to
the Secretary of Denison. |
