Genomica Corporation Adopts Stockholder Rights Plan.Business Editors & Health/Medical Writers BIOWIRE2K BOULDER Boulder, city, United States Boulder, city (1990 pop. 83,312), seat of Boulder co., N central Colo.; inc. 1871. A Rocky Mountain resort and a suburb of Denver, it is the seat of the Univ. of Colorado (1876). , Colo.--(BW HealthWire)--Oct. 4, 2001 Genomica Corporation (Nasdaq: GNOM), a developer of innovative software products that facilitate drug discovery and development, today announced that its Board of Directors approved the adoption of a Stockholder Rights Plan under which all stockholders of record as of October 24, 2001, will receive rights to purchase shares of a new series of Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The Rights Plan is designed to enable all Genomica stockholders to realize the full value of their investment and to provide for fair and equal treatment for all stockholders in the event that an unsolicited un·so·lic·it·ed adj. Not looked for or requested; unsought: an unsolicited manuscript; unsolicited opinions. unsolicited Adjective attempt is made to acquire Genomica. The adoption of the Rights Plan is intended as a means to guard against 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 and is not in response to any particular proposal. The rights will be distributed as a non-taxable dividend and 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. ten years from the record date. The rights will be exercisable only if a person or group acquires 20 percent or more of Genomica's Common Stock or announces a tender offer for 20 percent or more of the Common Stock. If a person acquires 20 percent or more of Genomica's Common Stock, all rights holders except the buyer will 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 acquire Genomica's Common Stock at a discount. The effect will be to discourage acquisitions of more than 20 percent of Genomica's Common Stock without negotiations with the Board. The rights will trade with Genomica's Common Stock, unless and until they are separated upon the occurrence of certain future events. The rights distribution is not taxable to the stockholders. Genomica's Board of Directors may terminate the Rights Plan at any time or 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 prior to the time the rights are triggered. Additional details regarding the Rights Plan will be outlined in a summary to be mailed to all stockholders following the record date. About Genomica Corporation Genomica Corporation develops and markets innovative software products and services that enable pharmaceutical and biotechnology researchers to accelerate the drug discovery and development process. Genomica's customers include leading genomics-based research organizations such as AstraZeneca, GlaxoSmithKline, Aventis, and the National Cancer Institute. Genomica also has strategic alliances with Applied Biosystems Applied Biosystems, Inc. (formerly NASDAQ: ABIO) is the original name of a pioneer biotechnology company founded in 1981 in Foster City, California, among the Silicon Valley cities of the southern San Francisco Bay Area. and Celera Genomics. For additional information on Genomica, please visit its Website at www.genomica.com. |
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