URANIUM RESOURCES INC /DE/ FILES (8-K) Disclosing Change in Directors or Principal Officers, Other Events, Financial Statements and Exhibits
(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02 Departure of Directors or Certain Officers; Election ofDirectors; Appointment of Certain Officers; Compensatory Arrangements of Certain
On December 27, 2013, Mr. John H. Pfahl notified the Board of Directors of
Uranium Resources, Inc. (the "Company") of his decision to resign from the
Board, effective immediately, as the result of his relocation to Australia.
Mr. Pfahl joined the Board of Directors in June 2012 and served on the Board of
Director's Audit Committee and Nominating and Corporate Governance Committee.
Mr. Pfahl's resignation is not the result of any disagreement with the Company
on any matter relating to the Company's operations, policies or practices.
Also on December 27, 2013, the Board of Directors, in accordance with the
Company's Amended and Restated Bylaws, appointed Mr. Tracy A. Stevenson to the
Board of Directors and Audit Committee, effective immediately. The appointment
of Mr. Stevenson, who qualifies as an independent director under applicable
NASDAQ rules, fills the vacancy created by the departure of Mr. Pfahl from the
Mr. Stevenson was nominated to the Board of Directors by Resource Capital Fund V
L.P. ("RCF"), the Company's largest stockholder, as provided by the terms of the
Stockholders' Agreement between RCF and the Company dated March 1, 2012, as
subsequently modified by the Bridge Loan Agreement between the parties dated
December 17, 2012, and the Loan Agreement between RCF and the Company dated
November 13, 2013, whereby RCF has the right to designate two nominees to the
Company's Board of Directors so long as RCF holds more than 25% of the Company's
common stock on a partially diluted basis or any obligations remain outstanding
under the Loan Agreement. There have been no related party transactions between
the Company and Mr. Stevenson.
Mr. Stevenson will receive compensation similar to the Company's other
non-employee directors, which is described in the Company's definitive proxy
statement filed with the Securities and Exchange Commission on April 30, 2013.
The Company also granted an option to purchase 5,000 shares of the Company's
common stock to Mr. Stevenson in connection with his joining the Board.
Item 8.01 Other Events.
On December 30, 2013, the Company issued a press release announcing the
resignation of Mr. Pfahl and the appointment of Mr. Stevenson to the Board of
Directors. The press release is filed herewith as Exhibit 99.1 and is
incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description 99.1 Press Release dated December 30, 2013.
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