Alanco Adopts Shareholder Rights Plan.Business Editors SCOTTSDALE, Ariz.--(BUSINESS WIRE)--March 2, 2000 Alanco Technologies Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ALAN), Thursday announced the adoption of a stockholder rights plan designed to assure that all Alanco stockholders receive fair and equal treatment in the event of any proposed takeover of the company and to guard against partial tender offers and other abusive Tending to deceive; practicing abuse; prone to ill-treat by coarse, insulting words or harmful acts. Using ill treatment; injurious, improper, hurtful, offensive, reproachful. takeover tactics to gain control of Alanco. The Alanco Shareholder Rights Plan authorizes the distribution of one right for each common share of the company outstanding on March 1, 2000. Until the occurrence of specified events, the rights will not be exercisable and no certificates for the rights will be sent to stockholders. Upon the occurrence of such events, each Right will 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: the holder (other than the party seeking to acquire control of the company) to acquire shares of the common stock of the company at a significant discount from market value. The rights may be terminated by Alanco's board at any time prior to the date they become exercisable; thereafter, they may be redeemed for a specified period of time at a nominal price Nominal price Price quotations on futures for a period in which no actual trading took place. . Robert R. Kauffman, chairman and chief executive officer of Alanco, said, "The adoption of stockholder rights allows a Board of Directors to better represent the stockholders in a manner which will permit the maximization of stockholder value in the long term. "The Alanco Shareholder Rights Plan will not, and is not intended to, prevent a takeover of the Company on terms that are fair to, and in the best interests of, all stockholders, but is intended to encourage any person seeking to acquire the Company to negotiate with the Board prior to attempting a takeover." Alanco Technologies Inc. is an Arizona corporation headquartered in Scottsdale. Alanco is traded on the NASDAQ stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol ALAN. This press release contains statements that may be considered forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are inherently uncertain, and the actual results may differ from management's expectations. |
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