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Roxgold Inc. (CVE:ROG) announced with immediate effect, that its Board of Directors has adopted a shareholder rights plan.
The press release is quoted as saying:
The rights issued under the rights plan become exercisable when a person, together with any parties related to it, acquires or announces its intention to acquire 20% or more of the Company’s outstanding common shares without complying with the “Permitted Bid” provisions of the rights plan or without approval from Roxgold’s Board of Directors. Should such an acquisition occur, rights holders (other than the acquiring person and related persons) can purchase common shares of the Company at a substantial discount to the then market price.
Click here to access the entire news release.
Click here to access Roxgold’s company profile.(TSXV:ROG)
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