GREY:LFDEF - Post by User
Comment by
onxy10122012on Apr 05, 2019 10:46am
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Post# 29587362
RE:Just my thoughts...
RE:Just my thoughts...On April 6, 2016, UrtheCast announced that the Board approved the adoption of a shareholder rights plan (the "Rights Plan") effective April 5, 2016. The Rights Plan is designed to ensure that, in the context of a bid for control of the Company through an acquisition of Common Shares, all shareholders have an equal opportunity to participate in, and adequate time to assess, the bid. The Rights Plan is not intended to prevent take-over bids that treat shareholders equally and offer fair value. The Rights Plan expressly permits certain take-over bids, referred to as "permitted bids", which meet basic requirements intended to protect the interests of shareholders. Under the terms of the Rights Plan, one right (a "Right") will be issued by the Company for each outstanding Common Share. The Rights become exercisable only if a person acquires 20% or more of the Common Shares of the Company without complying with the "permitted bid" provisions of the Rights Plan or without the approval of the Board. Once exercisable, the Rights entitle holders (other than such acquiring person, its affiliates, associates and joint actors) to purchase Common Shares of the Company at a substantial discount to the prevailing market price at the time that the Rights become exercisable. The Rights Plan was approved at the Company's Annual General and Special Meeting of Shareholders on May 10, 2016.
Not going to happen