American States Water Co. Announces Adoption of Shareholder Rights Plan and Election of Additional Director.SAN DIMAS, Calif.--(BUSINESS WIRE)--Aug. 20, 1998--American States Water Co. (NYSE NYSE See: New York Stock Exchange :AWR AWR Automatic Workload Repository (Oracle database) AWR Applied Wave Research (El Segundo, CA) AWR Adventist World Radio AWR Advanced Warranty Replacement AWR American Warmblood Registry ) Thursday announced that it has adopted a shareholder rights plan to discourage 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. The Rights will be issued as a dividend to shareholders of record on Sept. 22, 1998. If an entity acquires more than 15 percent of the company's stock, or in the event of a squeeze-out merger, holders of the rights would be entitled 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: to purchase either American States Water Co.'s stock or stock in the merged entity at half of market value. American States Water Co. will be entitled to redeem redeem v. to buy back, as when an owner who had mortgaged his/her real property pays off the debt. The term also refers to paying the amount due and all charges after a foreclosure (due to failure to make payments when due) has begun. the rights for a nominal amount at any time until the 10th day following public announcement that a 15 percent position has been acquired. Details of the Shareholder Rights Plan will be mailed to shareholders. In other news, American States Water Co. announced the addition of Anne M. Holloway as the eighth member of the board of directors. Holloway will serve as a Class I director of the company and her initial term will expire at the Annual Meeting of Shareholders in April 1999. Holloway was also elected a director of Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, Water Co. American States Water Co. is a holding company which, through its principal subsidiary, Southern California Water Co., provides water service to 1 out of 30 Californians located within 75 communities throughout 10 counties in Northern, Coastal and Southern California. The company also distributes electricity to approximately 20,000 customers in the Big Bear recreational area of Southern California.
CONTACT: American States Water Co., San Dimas
McClellan Harris III, 909/394-3600, Ext. 705
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