CanniMed board
approves shareholder rights plan that prevents Aurora, which says it has 38 % of shares locked up, from buying more shares or signing new lock - up agreements
Not exact matches
At the fast - food giant's annual
shareholders meeting, McDonald's investors
approved a measure to give
shareholders the
right to nominate board members.
In no case, except due to an adjustment to reflect a stock split or other event referred to under «Adjustments» below, and except for any repricing that may be
approved by
shareholders, will the plan administrator (1) amend an outstanding stock option or stock appreciation
right to reduce the exercise price or base price of the award, (2) cancel, exchange, or surrender an outstanding stock option or stock appreciation
right in exchange for cash or other awards for the purpose of repricing the award, (3) cancel, exchange, or surrender an outstanding stock option or stock appreciation
right in exchange for an option or stock appreciation
right with an exercise or base price that is less than the exercise or base price of the original award, or (4) take any other action that is treated as a repricing under U.S. generally accepted accounting principles.
In no case (except due to an adjustment to reflect a stock split or other event referred to under «Adjustments» below, and except for any repricing that may be
approved by
shareholders) will the plan administrator (1) amend an outstanding stock option or stock appreciation
right to reduce the exercise price or base price of the award, (2) cancel, exchange, or surrender an outstanding stock option or stock appreciation
right in exchange for cash or other awards for the purpose of repricing the award, or (3) cancel, exchange, or surrender an outstanding stock option or stock appreciation
right in exchange for an option or stock appreciation
right with an exercise or base price that is less than the exercise or base price of the original award.
In the event that (i) the Board of Directors proposes, recommends,
approves or otherwise submits to the
shareholders of the Company, for
shareholder action, a Deemed Liquidation Event, and (ii) a Holder has not received written notice from the holders of a majority of the shares of Key Holder Common Stock that such holders
approve the Deemed Liquidation Event, then such Holder hereby agrees to vote (in person, by proxy or by action by written consent, as applicable) all shares of capital stock of the Company now or hereafter directly or indirectly owned of record or beneficially by such Holder against the Deemed Liquidation Event, to assert statutory dissenters»
rights with respect to the Deemed Liquidation Event, and to take such other action in derogation of the Deemed Liquidation Event as shall be requested by the holders of a majority of the shares of Key Holder Common Stock in order to carry out the terms and provision of this Section x.y..
The purpose of the
rights offering is to get shares of GYRO into «friendly»
shareholder hands that will participate in a
shareholder vote and
approve the liquidation.
The adoption of this
rights plan was
approved by a large majority the
shareholders while the bid was outstanding.
Canadian
shareholder rights plans come in two forms: «pre-approved plans» and «tactical plans» and the board should have given consideration to
approving the appropriate plan for the company.