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Gold/Mining/Energy : first star energy FST on the ASE
FST 10.18+0.3%Aug 25 5:00 PM EST
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To: viper who wrote (408)5/12/1998 6:49:00 PM
From: Flea  Read Replies (1) of 754
 
First Star Energy Ltd -

Shareholder rights plan

First Star Energy Ltd
FST
Shares issued 18983832
1998-05-12 close $0.89
Tuesday May 12 1998
Mr. John E. Squarek reports
The board of directors has approved a shareholder rights plan, which is effective immediately. The
shareholders will be asked to approve the rights plan at the annual and special meeting in June 1998. The
plan will terminate if not confirmed by a majority of the votes cast by shareholders at the meeting.
The plan has been adopted in order to provide First Star's board and shareholders sufficient time to
assess and evaluate any takeover bid or acquisition proposal. The plan is similar to other plans adopted
recently by other Canadian corporations. The plan has not been adopted in response to, or in anticipation
of, any specific takeover bid or acquisition proposal.
The rights which now form part of each outstanding common share and which will trade with the
common shares and not be exercisable until the separation time, will entitle shareholders, in certain
circumstances, including the event where a person acquires 20 per cent or more of the outstanding
common shares, other than through a permitted bid, to acquire First Star common shares at half of the
current market price. The plan provides that a permitted bid is a takeover bid made to all shareholders for
outstanding shares of First Star, which must be outstanding for at least 45 days.
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