Cholestech Corporation Adopts Shareholder Rights Plan.HAYWARD, Calif.--(BW HealthWire)--March 31, 1997--Cholestech Corporation (Nasdaq: CTEC CTEC Course and Teacher Evaluation Council (Northwestern University, Office of the Register) CTEC Certified Technical Education Center CTEC Certified Technical Education Center (Microsoft) ) announced today that its Board of Directors has adopted a Shareholder Rights Plan intended to assure that Cholestech shareholders would receive fair and equal treatment in the event of the 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. tactics to gain control of Cholestech without paying shareholders the fair value of their shares, including a "control premium". The Rights Plan has not been adopted in response to any effort to acquire control of Cholestech and the Board of Directors is not aware of any such effort. The Shareholder Rights Plan has the effect of diluting the ownership interest of a potential unauthorized acquirer by increasing shares held by other shareholders. The Plan will not have any effect unless and until there is an unauthorized attempt to gain control of the company. Under the plan, Cholestech will issue one right for each outstanding share of Cholestech's common stock to stockholders of record on March 31, 1997. These rights will become exercisable only if a person or group acquires 15 percent or more of Cholestech's outstanding common stock or announces a tender or exchange offer that would result in ownership of 15 percent or more of Cholestech's common stock. 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 to buy o any time on or before the tenth day following acquisition by a person or group of 15% or more of the Company's common stock. The rights 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 January 22, 2007. Further details of the Rights are contained in a letter that ws a single-use, state of the art disposable calio of CLIA-waived products is designed to offer efficient and economic screening and monitoring options which will ultimately enable people to lead longer, healthierhat all 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. involve risksmand for the Company's products, impact of competitive products and pricing, U.S. and International regula the Company's filing with the Securities and Ee Company without charge, for a more complete description of the risks and uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc material in this release as well as other aspects of the Company'sstech.com KEYWORD: FN CALIFORNIA California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). |
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