-Air Canada receives shareholder nod for rights plan amendments.
Air Canada (TSX: AC.B) said that it has received approval from its shareholders voting in favour of the proposed amendments to Air Canada's shareholder rights plan agreement at the annual and special meeting of its shareholders.
The proposed amendments were previously announced on May 4 and are described in the management proxy circular sent to Air Canada's shareholders prior to the meeting.
Subject to certain exceptions identified in the Rights Plan, the Rights Plan, as currently amended, would be triggered in the event of an offer to acquire 20% or more of the outstanding class A variable voting shares and class B voting shares of Air Canada calculated on a combined basis, instead of 20% or more of the outstanding class A variable voting shares or class B voting shares calculated on a per class basis as was the case under the Rights
Plan prior to the amendments that came into effect. A copy of the amended Rights Plan is available on SEDAR at www.sedar.com.
Air Canada is Canada's largest domestic and international airline serving more than 180 destinations on five continents. Canada's flag carrier is the 15th largest commercial airline in the world and in 2011 served more than 33 million customers.
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|Publication:||Airline Industry Information|
|Date:||Jun 5, 2012|
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