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Gold/Mining/Energy : Pure Gold Minerals (PUG)-TSE
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To: JKNF who wrote (692)7/26/1998 12:59:00 AM
From: phylo derlitcz  Read Replies (1) of 1030
 
Do not forget this past, preapproved SH plan for just this predicament:

Pure Gold Minerals Inc -

Shareholder rights plan

Pure Gold Minerals Inc
PUG
Shares issued 24,870,966
1997-12-05 close $1.14
Monday Dec 8 1997
Mr Donald Sheldon reports
The board of directors has implemented a shareholder rights plan. The
plan is effective immediately. The plan has been adopted in order to
provide Pure Gold's board and shareholders with sufficient time to
assess and evaluate any takeover bid and, in the event a bid is made, to
provide the board of directors with an appropriate period of time to
explore and develop alternatives which maximize shareholder value. The
plan is also intended to ensure that all of Pure Gold's shareholders are
treated equally if a takeover bid is made. The plan is not intended to
deter takeover bids. Pure Gold is not aware of any existing or anticipated
takeover bid at this time.
To implement the plan, the board authorized the distribution of one share
purchase right for each outstanding share held at the close of business
today. The rights to be issued to shareholders under the plan will, in the
event a takeover bid which is not a permitted bid is made, entitle the
holder to acquire shares of Pure Gold at a 50% discount to the
prevailing market price upon a person or group acquiring 20% or more
of the shares of Pure Gold. In the event that a permitted bid is made, the
rights plan can be waived by the board of directors and the rights
redeemed.
The plan provides that a permitted bid is a takeover bid which provides
for a minimum deposit period of at least 60 days and which is made to
all shareholders. A permitted bid must also satisfy certain other
conditions, including that a minimum of 50% of the outstanding shares
(exclusive of shares held by the offeror) must be tendered into the bid.
The plan will be operative for renewable terms of three years. The plan
will be submitted for ratification by common shareholders at a
shareholders' meeting to be held within six months. Anyone who
announces an intention to make a takeover bid will be excluded from
voting on the plan. To remain effective, the plan must be approved by
more than 50% of the votes cast at that meeting.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

* E N D

Prudence can be considered a measure of a man, or woman.

Phylo.
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