For Immediate Release
Wi-LAN Inc. Adopts Shareholder Rights Plan
Calgary, Alberta (March 12, 1999) --Wi-LAN Inc. today announced that its
Board of Directors has adopted a Shareholder Rights Plan. The rights plan
addresses the Corporation's concerns that existing Canadian legislation
does not allow sufficient time, if a takeover bid is made, for the Board of
Directors or the shareholders to properly consider a takeover bid, or to
seek alternatives to such a bid.
The rights plan is effective immediately. The plan will provide the Board
of Directors of the Corporation and the shareholders more time to fully
consider any unsolicited take-over bid for the Corporation. It will also
allow more time for the Board of Directors to pursue, if appropriate, other
alternatives to maximize shareholder value. Shareholders will be asked to
confirm the rights plan at the Annual and Special Meeting of the
shareholders to be held on April 19, 1999.
The rights plan was not adopted in response to, or in anticipation of, any
specific effort to acquire control of the Corporation. The rights plan is
similar to plans adopted recently by other Canadian companies.
About Wi-LAN Inc.
Wi-LAN delivers high-speed wireless data communications products that
feature consistent high performance, easy installation and superior quality
at significantly lower costs than traditional wire-based networking
alternatives. Wi-LAN provides infrastructure and high-speed networking
equipment for public and private wireless data networks. The company?s
Hopper and Hopper Plus products have been sold in more than 30 countries on
six continents. Wi-LAN shares trade on the Alberta Stock Exchange under the
symbol WIN. Detailed information on Wi-LAN can be found on the Web at
wi-lan.com.
For more information, please contact:
Wanda Posehn
Wi-LAN Inc.
(403) 273-9133
wandap@wi-lan.com
The Alberta Stock Exchange has neither approved nor disapproved the
Happy investing,
Uptickin |
