I´m pretty sure that the SRP is in effect now through the approval of the Board of Directors.

If you would have to wait for the approval of all shareholders at an AGM, than this wouldn´t be practical, would it ? Because a company would be vulnerable to a takeover attempt for a long period of time if they hadn´t a SRP in effect.

Therefore effectiveness immediately and ratification at the next AGM.

But we should all be aware that a SRP DOESN´T protect us from a takeover in general.

Because the BoD could classify a takeover proposal as a "permitted bid" and support the takeover attempt, which wouldn´t trigger the SRP.

Another point is, that if the SRP would be triggered, you would need cash immediately in order to buy the additional shares, because the plan would result in heavy dilution in order to "minimize" the stake of the bidder.

So we shouldn´t be under the impression that a SRP will protect us from any "low-ball takeover offer" per se !

FANTOMAS