ProMIS Neurosciences Adopts Shareholder Rights Plan

ProMIS Neurosciences Inc. (TSX:PMN) announced that its board of directors has adopted a shareholder rights plan.
According to the company press release:

The Rights Plan is intended to ensure that, to the extent possible, the Corporation’s Board and shareholders have adequate time to consider and evaluate any unsolicited takeover bid and to identify, solicit, develop and negotiate any value enhancing alternatives that would be considered appropriate. This will encourage fair treatment of the Corporation’s shareholders in connection with any unsolicited takeover bid.  The Rights Plan was not adopted in response to, or in anticipation of, any acquisition or take-over offer and is not intended to prevent a take-over of the Corporation, to secure continuance of current management or the directors in office or to deter fair offers for the common shares of the Corporation.

Click here to view the full press release.