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Gold/Mining/Energy : Madison Enterprise, MNP/VSE -- Ignore unavailable to you. Want to Upgrade?

To: rdww who wrote (151)	3/10/1998 9:23:00 PM
From: rdww	Respond to of 285

MNP adopts poison pill? Are they worried about PDG scooping them for $3 or looking for a way to make news? Madison Enterprises Corp MNP Shares issued 16,577,900 Mar 4 close $2.03 Thu 5 Mar 98 News Release Ms Nell Dragovan reports The board of directors has adopted a shareholder rights plan. The objective of the plan is to ensure that all shareholders of Madison are treated equally and fairly in connection with any takeover bid for Madison. The plan is not intended to block takeover bids, but will discourage discriminatory or unfair takeover tactics and provide the board of directors sufficient time to fully evaluate a takeover offer and pursue alternatives to maximize shareholder value. The plan is similar to many plans adopted by other Canadian companies. Madison is not aware of any pending or threatened takeover bid for its shares. In order to implement the plan, the board has authorized the issue, effective March 5 1997, of one right in respect of each outstanding common share of Madison. Until the occurrence of certain events, the rights will trade with the shares and be represented by the certificates for the shares. On the occurrence of certain triggering events, including the acquisition by a person or group of 20% or more of the outstanding shares of Madison in a transaction not approved by the directors, the rights will entitle holders (other than the acquiring person or group) to acquire shares of Madison at a 50% discount to the prevailing market price. The rights will not be triggered, however, by purchases of shares of Madison made under a permitted bid. Although the plan is effective immediately, it is subject to shareholder confirmation at the 1998 AGM to be held in late April. Once confirmed by shareholders the plan will be operative for a ten year term. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com