RE:RE:Share buybacks are all the rage YoungH1 wrote: I wonder what a buyback would do to the % of shares owned by Edward Kernaghan. He currently owns 19.5% of about 55,000,000 shares outstanding
I saw this rights plan
Pursuant to the Original Rights Plan that is still in effect, one right (“Right”) was issued and attached to each outstanding Common Share and one Right is also issued and attached to each Common Share issued after the Effective Date. If a person, or a group acting jointly or in concert, acquires (other than pursuant to an exemption available under the Original Rights Plan including by way of a Permitted Bid (as defined in the Original Rights Plan)) beneficial ownership of 20% or more of the outstanding voting shares of Black Diamond, Rights (other than those held by such acquiring person) will permit the holder to purchase that number of Common Shares having an aggregate market price (determined in accordance with the Original Rights Plan) equal to two times the exercise price of the Rights for an amount in cash equal to the exercise price. The exercise price of the Rights is $100.00 per Right.
Additional information on the Amended Rights Plan, including a summary of the Amended Rights Plan and the proposed amendments to the Original Rights Plan, will be available in Black Diamond’s information circular – proxy statement relating to the 2018 Shareholders’ Meeting.
A copy of the Original Rights Plan is available, and a copy of the Amended Rights Plan will be made available prior to the 2018 Shareholder’s Meeting, on the Corporation’s SEDAR profile located at www.sedar.com.
Any one care to take a stab at interpreting it?