Note from the target statement, that Bizzell is on a max fee of 25K monthly while this bid is in progress, and is entitled to .3% of the final transaction value if Strike get over 50% of UIL.
In addition each director may be paid a "special exertion fee", as well as the MD being paid a retention fee of 61320 dollars on the effective control date.
This is the most active the directors have been in years, pity all the action is just to pay themselves,
all these one off payments really stink in light of the half assed deal they have presented to long suffering shareholders,
Bizzell and Hickey will never get my money again, be warned Strike shareholders with Bizzell joining your board.
UIL Price at posting:
5.0¢ Sentiment: Sell Disclosure: Held
