BURLINGTON RESOURCES ADOPTS SHAREHOLDER RIGHTS PLAN.HOUSTON--(BUSINESS WIRE)--Dec. 9, 1998--Burlington Resources Inc. (NYSE NYSE See: New York Stock Exchange :BR) reported that the Board of Directors of BR, at its regularly scheduled meeting today, adopted a Shareholder Rights Plan to replace the shareholder rights plan adopted by the Company in December December: see month. 1988, upon its expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created on December 16, 1998. The new Plan will be substantially similar to the Company's existing plan. The new Plan will expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. on December 16, 2008. In connection with the Plan, the Board declared a dividend distribution of one preferred share purchase right for each share of common stock held of record as of the close of business on December 16, 1998. The Plan is included in a Form 8-A that will be filed with the Securities and Exchange Commission and is described in detail in a letter being mailed to all of the Company's shareholders. 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. This press release may contain projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. . Any such projections or statements reflect the Company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ materially from those projected is included in the Company's periodic reports filed with the Securities and Exchange Commission. |
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