Platinum Group Metals Ltd. (TSX:PTM,NYSE:PLG) announced it has adopted a new shareholder rights plan.
As quoted in the press release:
The Company’s management considers its current market valuation to be in contrast to the advancement of the Company and its business at this time. As a result, the Board of Directors undertook a review to consider the need for a shareholder rights plan. The April 4, 2012 approval of the Company’s Mining Right for the 74% owned WBJV Project 1 Platinum mine, the impending Project 1 off-take and financing milestones for a US $260 million project loan and the Company’s new Waterberg Platinum discovery were important considerations for the Board of Directors.