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Gold/Mining/Energy : MGI Software (MGI on the TSE)
MGI 10.990.0%Jun 1 5:00 PM EST
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To: Domenic Caputo who wrote (346)4/26/1999 10:47:00 AM
From: Marc  Read Replies (1) of 553
 
MGI implements shareholder rights plan

MGI Software Corp MGI
Shares issued 23,984,712 Apr 23 close $2.75
Mon 26 Apr 99 News Release
Mr. Josef Zankowicz reports
The company has implemented a shareholder rights plan. The plan is
effective immediately but is subject to regulatory approval.
The plan has been adopted in order to provide MGI's board of directors 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
MGI's shareholders are treated equally if a takeover bid is made. The plan
is not intended to deter takeover bids. MGI's board is not currently aware
of any pending or threatened takeover bid.
The plan is operative until the date of the MGI's next annual and special
shareholders' meeting at which MGI's shareholders will consider the plan.
The meeting will occur on June 1, 1999. To remain effective, the plan must
be approved by more than 50 per cent of the votes cast at that meeting.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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