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Gold/Mining/Energy : Peruvian Gold Ltd. PVO
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To: Matt Cecile who wrote (411)12/17/1997 9:08:00 PM
From: Andre Koluksuz  Read Replies (1) of 892
 
Hi all !

Here is an interesting news released this evening after the close of markets. There were som rumors of a take-over attempt for cash rich PVO. May be it is real ;

Peruvian Gold Limited -
Poison pill
Peruvian Gold Limited PVO
Shares issued 14227466 1997-12-17 close $0.85
Wednesday Dec 17 1997

Mr David Henstridge reports
The board of directors of Peruvian Gold has adopted a shareholder rights plan designed to encourage fair treatment of shareholders in the event of an unsolicited takeover bid for Peruvian Gold.
The rights plan is intended to give the board and the shareholders of Peruvian Gold reasonable time to fully consider a bid if one is made and will discourage unfair, abusive or coercive takeover strategies. Current legislation permits a hostile bid to be made in as little as 21 days, giving little time for competing bids to be made.
If a party acquires 20% or more of Peruvian Gold's shares without complying with the rights plan or without board approval, each right, other than rights held by the acquiring person, will entitle shareholders other than the bidder to purchase shares of the company at an 80% discount to the market price at that time.
The plan is not triggered by a bid made to all shareholders that is open for at least 60 days. If at least 50% of the outstanding shares have been tendered at the end of 60 days, the bidder may take up and pay for the shares but must extend the bid for a further 10 days to allow other shareholders to tender to it.
The shareholders will be asked to ratify the plan at the next annual general meeting of shareholders.

(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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