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Technology Stocks : Merrimac (MRM) anyone else follow 'em
MRM 1.903-5.1%Dec 31 3:59 PM EST
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To: Liatris Spicata who wrote (89)3/19/1999 1:25:00 PM
From: geoffrey Wren   of 110
 
I wonder if this is why we are down 1 point today. It seems we will have a right to purchase another share at $25 under certain circumstances. Am I right to understand this will trade separately like a warrant? This is the record date, but I cannot believe it is worth anything like $1.

Shareholder Rights Plan

On March 5, 1999, the Board of Directors of Merrimac Industries, Inc.
(the "Company") approved a shareholder rights plan and declared a dividend of
one common share purchase right (a "Right") for each outstanding share of common
stock, par value $.50 per share (the "Common Stock"), of the Company. The
dividend is payable on March 19, 1999 (the "Record Date") to the shareholders of
record as of the close of business on that date. Each right will entitle the
holder to purchase from the Company, upon the occurrence of certain events, one
share of Common Stock for $25.00 (the "Purchase Price"). The terms and
conditions of the Rights are set forth in a Rights Agreement dated as of March
9, 1999 between the Company and ChaseMellon Shareholder Services, L.L.C., as
Rights Agent (the "Rights Agreement").

Prior to the Distribution Date (as defined below), the Rights will be
evidenced by the certificates for and will be transferred with the Common Stock
and the registered holders of the Common Stock will be deemed to be the
registered holders of the Rights.
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