pdn , edf and summit res

Paladin a Long Term Supplier of Yellowcake to Électricité de France S.A
On 15 August 2012, Paladin Energy Ltd announced that it had entered into a Long Term Off-take Contract
for the period 2019 to 2024.
Paladin is pleased to confirm that the counterparty to this contract is Électricité de France S.A (EdF). EdF is
the main electricity generating and distribution company in France and manages 58 nuclear power plants in
that country making it the largest single nuclear utility in the world.
The Board of Paladin is very pleased to have established a first long term relationship and working
partnership with this major international utility.
Building on this, Paladin will continue its strategic discussions with parties to optimise the value of the
unique position the Company has established for itself in the global uranium supply sector.
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AREVA OWNERSHIP STRUCTURE
2011
The Areva ownership structure is dominated by
the French Alternative Energies and Atomic Energy Commission (or CEA, Commissariat à l’énergie atomique et aux énergies alternatives)
which owns just over 73% of the company’s outstanding shares along with the
government of France, which owns over 10% of Areva stock
. This ownership arrangement means that Areva is a controlled company, where a single large shareholding block maintains effective legal control over the affairs of the corporation.
Another of Areva’s key issues is its leadership structure, which is composed of a supervisory board, the supervisory board committees, and an executive board. The supervisory board is currently composed of 15 members, only four of whom are deemed independent.
Of the 11 other members, four are appointed by ministerial order, representing the French state; three are company employee representatives; and three others are representatives of the CEA, the controlling shareholder.
The board’s chairman, Jean-Cyril Spinetta, is not only the CEO of Air France-KLM but also sits on five other boards (calling into question the time he has to devote to his duties at Areva) while the vice chairman, Bernard Bigot, is Administrator General and Chairman of the board of directors of the CEA.

The committee structure is no better, highlighted by the fact that only two of the seven-member Strategy and Investments Committee is independent.
As for the four other committees, only one is led by a majority of independent directors.
http://www3.gmiratings.com/home/2012/09/areva-sa-the-nuclear-industrys-going-nuclear/

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EDF SHAREHOLDER STRUCTURE
Breakdown of share capital and voting rights
At 31 December 2011, EDF Group's share capital totalled 1,848,866,662 shares. It was split as follows:

At 31 December 2011, voting rights were split as follows:

Number of Shares % Shares % Voting rights
French State 1,561,222,705 84.40 84.50 *************
Public (institutions & retail investors) 252,420,651 13.65 13.66
Employee shareholding 34,047,712* 1.84 1.84
Treasury shares 1,175,594 0.07 -
TOTAL 1,848,866,662 100.00 100.00
* This figure includes 28,785,426 shares (representing 1.56% of capital) on the basis of the definition of employee share ownership as defined by Article L.225-102 of the French Commercial Code (including shares owned by EDF's current and former employees through the "Actions EDF" FCPE of the EDF group savings plan and EDF International group savings plan. This figure also includes 5.3 million shares representing 0.28% of the capital held in direct registered form or administered, without a lock-in period or after lock-in periods, by current employee shareholders and former employees.
http://shareholders-and-investors.edf.com/edf-share/shareholding-structure-42691.html
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BOTH COMPANIES ARE VIRTUALLY FRENCH GOVT OWNED WITH SOME CROSS SHAREHOLDINGS.....
30/06/12 17/09/12 Paladin Energy Limited 178,911,682 82.08 82.08
30/06/12 17/09/12 Interuranium Australia Pty 21,879,518 10.04 10.04 ************
Ltd (AREVA HOLDING COMPANY)
30/06/12 17/09/12 Revelation Special 11,110,332 5.100 5.100
Situations Fund Ltd
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given the deal done with EDf and Areva's ties to the French govt its now highly likely that
Areva and Pdn with be in a most likely position to form a partnership to develop the Mt Isa interests...for a casg up front consideration.......

The initial deal appears to have opened the door for more deals with the FRENCH GOVT WHO ARE essentially EDF AND AREVA..........
SO DON'T BE SURPRISED IF ANOTHER DEAL IS SOON ANNOUNCED.....

SHAME ABOUT THE SHRE PRICE BUT THE SHORTERS HAVE CONTROL FOR NOW AND HAVE TO WORK THEIR WAY OUT OF THEIR POSITIONS BEFORE ANY MORE POSITIVE NEWS IS FORTHCOMING...SO EXPECT VOLATILITY AND BEAR TRAPS......