ARC International Corporation Adopts Shareholder Rights Plan.TORONTO--(BUSINESS WIRE)--Sept. 21, 1999-- ARC International This article is about the publicly traded processor company. For the privately held French housewares company of the same name, see ARC International (household). Corporation (AMEX AMEX See: American Stock Exchange :ATV (1) (Advanced TV) An early name for the digital TV standard proposed by the Advisory Committee on Advanced Television Service (ACATS). See ACATS. See also ATV Forum. (2) (Analog TV) Refers to the NTSC, PAL and SECAM analog TV standads. ), announced today that its Board of Directors has adopted a Shareholder Rights Plan designed to encourage the fair treatment of its shareholders in connection with any take-over bid. In such circumstances, the Rights Plan would provide shareholders with more time to fully consider any unsolicited take-over bid and would allow the Board of Directors to pursue other alternatives, if appropriate, to enhance shareholder value. The Rights Plan was not adopted in response to any specific proposal to acquire control of ARC, and ARC is not aware of any such proposal. The rights issued under the Plan become exercisable only when a person, including any party or entity related to it, acquires or announces its intention to acquire 15% or more of ARC's outstanding common shares without complying with the "Permitted Bid" provisions or without approval of the Board of Directors, subject to grandfathering provisions for shareholders who currently beneficially own more than 15% of the outstanding common shares. Should such an acquisition occur, each right would entitle en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: a holder, other than the acquiring person and persons related to it, to purchase common shares of ARC at a 50% discount to the then existing market price. A Permitted Bid is a bid made to all shareholders for all outstanding common shares that is open for at least 90 days. If at the end of 90 days, at least 50% of the outstanding shares, other than those owned by the offeror and certain related parties, have been tendered, the offeror may take up and pay for the shares. ARC is a leading developer and operator of, and full-service equipment supplier to, ice skating ice skating, gliding along an ice surface on keellike runners known as ice skates. Skating as a Sport Skating, besides being an important form of winter recreation and the essential skill in the game of ice hockey (see hockey, ice) has developed facilities in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. with six locations featuring 16 surfaces of ice. ARC also has significant equity holdings in Cabletel Communications Corp., Canada's leading supplier of broadband equipment, and Ballantyne of Omaha, Inc., America's leading manufacturer of motion picture projection and specialty entertainment. Additional corporate information is available at ARC's web site http://www.arc-atv.com. ARC's shares are listed and trade on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (ATV). |
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