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Biotech / Medical : CYTO -- Ignore unavailable to you. Want to Upgrade?

To: D.Lu who wrote (7368)	7/29/1998 11:43:00 AM
From: Troy Suarez, Ph.D.	Read Replies (1) \| Respond to of 8116

This is part of the release, it seems to me that we should have been issued preferred shares on June 30th PRINCETON, N.J., June 22 /PRNewswire/ -- CYTOGEN Corporation (Nasdaq: CYTO) announced today that its Board of Directors has adopted a Stockholder Rights Plan in which one preferred stock purchase right will be distributed as a dividend for each CYTOGEN common share held of record as of the close of business on June 30, 1998 (the "Rights"). The Stockholder Rights Plan is designed to deter coercive takeover tactics and to prevent an acquirer from gaining control of CYTOGEN without offering a fair price to all of CYTOGEN's stockholders. The rights will not prevent a takeover, but should encourage anyone seeking to acquire the company to negotiate with the Board of Directors prior to attempting a takeover. The Rights will be exercisable if a person or group acquires beneficial ownership of 20% or more of CYTOGEN's common stock and can be made exercisable by action of CYTOGEN's Board of Directors if a person or group commences a tender offer which would result in such person or group beneficially owning 20% or more of CYTOGEN's common stock. Each right will entitle the holder to buy one one-thousandth of a share of a new series of junior participating preferred stock for $20. If any person or group becomes the beneficial owner of 20% or more of CYTOGEN 's common stock (with certain limited exceptions), then each Right not owned by the 20% stockholder will entitle its holder to purchase, at the Right's then current exercise price, common shares having a market value of twice the exercise price. In addition, if after any person has become a 20% stockholder, CYTOGEN is involved in a merger or other business combination transaction with another person, each Right will entitle its holder (other than the 20% stockholder) to purchase, at the Right's then current exercise price, common shares of the acquiring company having a value of twice the Right's then current exercise price. CYTOGEN generally will be entitled to redeem the Rights at a redemption price of $.01 per Right until a person or group acquires a 20% position. The Rights will expire on June 19, 2008.