Abitibi-Price announces changes to shareholder rights plan.TORONTO--(BUSINESS WIRE)--April 10, 1995--Abitibi-Price Inc. Monday announced that the board of directors is making changes to its Shareholder Rights Plan in response to suggestions received recently from shareholders and their representatives. Abitibi-Price's modifications would permit all partial bids under the rights plan. Changes also include the requirement for shareholder approval before redemption of the rights under the plan and, in certain circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , waiver The voluntary surrender of a known right; conduct supporting an inference that a particular right has been relinquished. The term waiver is used in many legal contexts. of the plan. A number of other changes are also being made to respond to the concerns expressed by shareholders. "The original intent of the adoption of the plan has not changed, and therefore we encourage shareholders in their interests to vote in favor of the plan," said Ron Oberlander, president and chief executive officer. "The plan has been designed to, among other things, ensure sufficient time for the board to evaluate any takeover bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares and, as necessary, to seek other offers in order to maximize shareholder value." The plan will be voted on by the shareholders at the annual and special meeting on April 17, 1995. Abitibi-Price, a Canadian-based forest products company, manufactures newsprint newsprint low grade paper used for newspapers. Old newspapers are fed to cattle as an alternative roughage and may occasionally be ingested by dogs. Significant amounts of lead are accumulated in tissues; no cases of poisoning have been recorded in cattle, though it has been and value-added papers at ten mills 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. and markets these products to customers around the world. The company is also a major distributor of office products in North America and Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). . -0- Abitibi-Price Inc. 207 Queen's Quay West Suite 680, Box 102 Toronto, Ontario M5J 2P5 SYMBOLS AND EXCHANGES: Common Shares: A (Toronto, Montreal and Vancouver) Convertible Debentures: A.D (Toronto and Montreal) Instalment Receipts: A.I (Toronto and Montreal) CONTACT: Abitibi-Price Inc., Toronto Patrick G. Crowley, 416/203-5018 Robert J. Tait, 416/203-5089 |
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