PINL:HYKUF - Post by User
Post by
auburn2on Jun 19, 2022 1:45pm
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Post# 34767626
The Poison Pill
The Poison Pill"in the event that rights become exercisable under the rights plan, holders of the rights (other than the acquiring person and certain other customary parties, including parties acting jointly or in concert with the acquiring person) will be permitted to exercise their rights to purchase additional common shares of the company at a 50-per-cent discount to the then-prevailing market price of the common shares. Pursuant to the rights plan, one right attaches to each issued and outstanding common share."
So the takeover price doesn't have to be as high to sufficiently reward currrent shareholders doubling their holdings at the 50% discount to the prevailing market price, and who have been averaging down.