Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications
Message: OOGEE - you mentionned Poison Pill last year in a reply. Does Opel have one?
Hmmm.
The answer is: I'm not sure. . .
At the time I posted that response to VanVillan we had a shareholders rights plan (SRP) from 2009, a link to which was displayed on the company website.
Here's a wayback machine snapshot of our investor relations page showing that a shareholder rights plan used to be there:
http://web.archive.org/web/20110805143238/http://www.opelinc.com/investor_info.html
The last snapshot taken before the link disappeared was taken on June 20 2012.
BUT . . . I recall speaking with PC at the Toronto meeting and he was emphatic that there wasn't a poison pill. At the time I wasn't sure if he was saying the previously set SRP was revoked or if he didn't know about it (as he was still relatively new to the company).
Although the link no longer appears on our website, the document remains available here:
http://www.opelinc.com/documents/other/ShareholdersRightsPlan-21May09.pdf
Here's the relevant part:
ARTICLE 4
ADJUSTMENTS TO THE RIGHTS IN THE EVENT OF CERTAIN TRANSACTIONS
4.1 Flip-in Event
(a) Subject to subsection 4.1(b) and section 6.1, if prior to the Expiration Time a Flip-in Event occurs, each Right will constitute, effective on and after the la
ter of its date of issue and the close of business on the tenth Trading Day following the Stock Acquisition Date, the right to purchase from the Corporation, upon payment of the relevant Exercise Price and otherwise exercising such Right in accordance with the terms hereof, that number of Common Shares having an aggregate Market Price on the date of occurrence of such Flip-in Event equal to twice the Exercise Price for an amount in cash equal to the Exercise Price (such right to be appropriately adjusted in a manner analogous to the applicable adjust ments provided for in section 3.2 if, after such date of occurrence, an event of a type analogous to any of the events described in section 3.2 has occurred with respect to the Common Share). The result of this provision is that, in the event a Flip-in Event occurs, subject to all other provisions of this agreement, each Right will constitute the right to purchase from the Corporation ten (10) additional Common Shares at 50% of the Market Price at the time of the Flip-in Event.
Here's a definition of a poison pill which explains a "Flip-in" event:
So the question might be: Can/did OPEL abort the shareholders rights plan?
Loading...
Loading...
New Message
Please
login
to post a reply