Key points
- The shareholder rights protection plan was originally adopted in February 1995 and approved by shareholders in September 1995.
- The board of directors unanimously ratified continuation of the plan.
- The plan aims to give management and shareholders more opportunity to explore alternatives to an unsolicited takeover bid.
- The company will seek shareholder ratification of the continuation at its next shareholder meeting, with the plan remaining in effect until then.
The board of directors have unanimously ratified the continuation of the shareholder rights protection plan previously adopted in February 1995 and approved by shareholders in September 1995. The plan is designed to provide management and shareholders greater opportunities to explore alternatives in the event of any unsolicited takeover bid. The company will be seeking shareholder ratification at the company’s next shareholder meeting. Until such time, the shareholder plan remains in effect.
