Ms. Susan Robbins Parsons reports
Int'l Datacasting receives TSX nod for poison pill
TSX APPROVES SHAREHOLDER RIGHTS PLAN OF INTERNATIONAL DATACASTING CORPORATION
The Toronto Stock Exchange has approved the adoption of a shareholder rights plan which International Datacasting Corp. previously announced in Stockwatch on Jan. 9, 2009, had been approved for adoption by IDC's board of directors. The rights plan is designed to encourage the fair and equal treatment of shareholders in connection with any takeover bid for the outstanding securities of the company.
The company's board is not currently aware of any pending or threatened takeover bid for the company. The rights plan is similar to plans adopted by other Canadian companies.
Although effective as of Jan. 9, 2009, the rights plan is subject to ratification by the company's shareholders within six months.
If not ratified within six months from the effective date, the rights plan will terminate.
A copy of the rights plan will be filed on SEDAR and can also be obtained from the company upon written request.
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