The Date:
October 15 2009 4:00pm - 5:00pm
The Place:
The TSX Gallery, Exchange Tower, 130 King Street West, Toronto, Ontario
I am looking for help with this, would anyone be able to furnish just what the "Permitted Bid" provisions of the plan are? See below. TIA.
SHAREHOLDER RIGHTS PLAN
On June 19, 2007, the shareholders of the Company voted to approve the adoption of a shareholder rights plan (the “Rights Plan”). The rights Plan is being adopted in order to reflect developments in Canada with respect to shareholder rights plans and is designed to encourage the fair treatment of shareholders in connection with any take-over bid for the Company. The plan provides the Board and shareholders with
more time to fully assess any unsolicited take-over bid without undue pressure, and to pursue, if appropriate, other alternatives to maximize shareholder value and allow additional time for competing bids to emerge. The plan was not proposed in response to any acquisition or take-over offer and is not intended to prevent one. The rights become exercisable only when a person or party acquires or announces an intention to
acquire 20% or more of the outstanding shares of the Company without complying with the “Permitted Bid” provisions of the plan.
The Plan is subject to reconfirmation every third annual meeting of shareholders until
the plan expires in 2016.
