Canarc Resource adopts shareholder rights plan.VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 14, 1995--The board of directors of Canarc Resource Corp. (CCM CCM Contemporary Christian Music CCM Critical Care Medicine CCM County College of Morris (New Jersey) CCM Chama Cha Mapinduzi (political party, Tanzania) CCM CORBA Component Model .ToSE) (the "company") announced today that it has adopted a shareholder rights plan. The objective of the plan is to ensure that all shareholders of the company are treated equally and fairly in connection with 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 for the company. The plan is not intended to block takeover bids, but will discourage discriminatory or unfair takeover tactics and provide the board of directors sufficient time to fully evaluate a takeover offer and pursue alternatives to maximize shareholder value. In making the announcement, the company said it was not aware of any pending or threatened takeover bid for the company. The plan is similar to many plans adopted by other Canadian companies This is a list of companies from Canada.
Directory: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Current Companies . In order to implement the plan, the board has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the issue effective today of one right in respect of each outstanding common share of the company. Until the occurrence of certain events, the rights will trade with the common shares and be represented by the certificates for the common shares. On the occurrence of certain triggering events Triggering Event A certain milestone or event that a participant in a qualified plan must experience in order to be eligible to receive a distribution from a qualified plan. , including the acquisition by a person or group of 20 percent or more of the outstanding common shares of the company in a transaction not approved by the directors, the rights 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: holders (other than the acquiring person or group) to acquire shares of the company at a 50 percent discount to the prevailing market price. The rights will not be triggered, however, by purchases of common shares of the company made under the "permitted bid." A permitted bid is a takeover bid made for all shares to all holders of common shares of the company on identical terms, which also complies with certain other conditions, including a requirement that it remain open for at least 60 days. The terms of the plan were approved by the company's shareholders at the company's annual general meeting held on Oct. 25, 1995. The plan is effective immediately and will continue to be operative for a term ending on Nov. 14, 2003. ON BEHALF OF THE BOARD OF DIRECTORS CANARC RESOURCE CORP. Bradford J Cooke, President CONTACT: Diane Thomas, Vice President or Robert Carriere, Investor Relations Investor relations The process by which the corporation communicates with its investors. 604/685-9700 |
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