RE: Would my Rights be deposited in my account?I don't think so, looks they are are attached to the share. So buy a share, get a Right. The following is from the May 30 release on SEDAR.
https://www.sedar.com/
Summary of Shareholder Rights Plan
The following is a summary of the principal terms of the shareholder rights plan (the "Shareholder Rights Plan") of the
Company and is qualified in its entirety by the terms of the Shareholder Rights Plan Agreement.
Effective Date: The effective date of the Shareholder Rights Plan is May 24, 2011 (the "Effective Date")
which is the date that the Shareholder Rights Plan was approved by the directors of the
Company.
Term: If not previously terminated in accordance with the provisions thereof, the Shareholder
Rights Plan will terminate at the close of business on the first annual meeting of
shareholders of the Company following the third anniversary of the Effective Date,
provided in certain circumstances that if the Independent Shareholders (as hereinafter
defined) ratify the continued existence of the Shareholder Rights Plan at or prior to such
meeting of shareholders of the Company, then the Shareholder Rights Plan will terminate
at the close of business on the sixth anniversary of the Effective Date.
Issue of Rights: On the Effective Date, one right (a "Right") will be issued and will attach to each common
share of the Company (a "Common Share") then outstanding. One right will be issued and
will attach to each Common Share issued following the Effective Date.
Rights Exercise Privilege: The Rights will separate from the Common Shares and will be exercisable eight business
days (or such later date as may be determined by the directors of the Company) (the
"Separation Time") after a person has acquired, or commences or publicly announces or
discloses its intention to commence a take-over bid to acquire, 20% or more of the
Common Shares, other than by an acquisition pursuant to a take-over bid permitted by the
Shareholder Rights Plan (a "Permitted Bid").
The acquisition by any person (an "Acquiring Person") of 20% or more of the Common
Shares, other than by way of a Permitted Bid, is referred to as a "Flip-in Event". Any
Rights held by an Acquiring Person will become void upon the occurrence of a Flip-in
Event. From and after a Flip-in Event, each Right (other than those held by the Acquiring
Person) will permit the purchase of US$20 worth of Common Shares at the market price
(as defined in the Shareholder Rights Plan) for US$10 (i.e. at a 50% discount). The
Acquiring Person, as well as any holders of Rights who do not exercise their Rights upon
the occurrence of a Flip-in Event, may accordingly suffer substantial dilution.
Certificates and
Transferability:
Prior to the Separation Time, the Rights will be evidenced by a legend imprinted on
certificates for Common Shares issued from and after the Effective Date and will not be
transferable separately from the Common Shares. From and after the Separation Time,
the Rights will be evidenced by Rights certificates that will be transferable and traded
separately from the Common Shares.
Permitted Bid
Requirements:
The requirements for a Permitted Bid include the following:
(a) the take-over bid must be made by way of a take-over bid circular;
(b) the take-over bid must be made to all holders of Common Shares;
(c) no Common Shares may be taken up or paid for (i) prior to the close of business
on a date which is not less than 60 days following the date of the take-over bid
and (ii) unless, at the close of business on such date, more than 50% of the
Common Shares held by shareholders other than the bidder, its affiliates and
persons acting jointly or in concert with the bidder (collectively the "Independent
Shareholders") have been deposited or tendered pursuant to the take-over bid
and have not been withdrawn;
(e) the Common Shares deposited or tendered pursuant to the take-over bid may be
withdrawn at any time before they are taken up and paid for; and
(f) if more than 50% of the Common Shares held by Independent Shareholders are
deposited or tendered pursuant to the take-over bid and have not been withdrawn,
then the bidder must make a public announcement of that fact and the take-over
bid must remain open for deposits and tenders of Common Shares for an
additional 10 business days from the date of such public announcement.
The Shareholder Rights Plan allows for a competing Permitted Bid (a "Competing
Permitted Bid") to be made while a Permitted Bid is in existence. A Competing Permitted
Bid must satisfy all of the requirements of a Permitted Bid except that, subject to applicable
law, it may expire on the same date as the Permitted Bid.