TORONTO, ONTARIO--(Marketwire - Jan. 31, 2013) -Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), announces that at the recent Annual General Meeting of shareholders, the Company's shareholders confirmed a Shareholder Rights Plan (the 'Rights Plan') previously adopted by the Board of Directors. The Rights Plan has been filed with the TSX Venture Exchange.
The Rights Plan has been adopted to ensure the fair treatment of shareholders in the event of any take-over offer for the Company's common shares. The Rights Plan must be reconfirmed by shareholders at every third annual meeting of the Company.
The Company has not adopted the Rights Plan in response to, or in anticipation of, any specific take-over bid or proposal to acquire control of the Company. The Rights Plan is similar to plans adopted by other Canadian companies. The full text of the Rights Plan is available on the SEDAR website at https://www.sedar.com.
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