The adoption of the Plan is intended to ensure, to the extent possible, that all shareholders of the Company are treated fairly and equally in connection with any unsolicited take-over bid or other acquisition of control of or a significant interest in the Company and to protect against acquisitions of control of the Company through purchases of common shares of the Company (the "Common Shares") that are exempt from applicable Canadian take-over bid rules, also referred to as "creeping" take-over bids. The Plan will also ensure the Board is provided with adequate time to consider and evaluate take-over bids and other acquisitions and, if appropriate, identify, develop and negotiate any value-enhancing alternatives. The Plan has not been adopted in response to any pending or threatened take-over bid, and the Company is not aware of any such efforts. The Plan is similar to rights plans adopted by other Canadian companies and ratified by their shareholders.
Under the provisions of the Plan, one right (a "Right") was issued and attached to each Common Share outstanding as of Effective Date, and one Right will be attached to each future Common Share issued after the Effective Date. The issuance of the Rights will not change the manner which shareholders trade their Common Shares, and the Rights will automatically attach to the Common Shares with no further action required by shareholders. The Rights will only become exercisable if a person (an "Acquiring Person"), together with certain parties related to such person, becomes the beneficial owner of 20% or more of the outstanding voting securities of the Company without complying with the "permitted bid" provisions of the Plan or otherwise as part of acquisitions exempt from the provisions of the Plan. Upon a person becoming an Acquiring Person, holders of Rights (other than the Acquiring Person and certain parties related to the Acquiring Person) will be entitled to exercise their Rights to purchase Common Shares at a substantial discount to the then market price for the Common Shares.
The provisions of the Plan are governed by a shareholder rights plan agreement between the Company and
AEP is a growth company that is acquiring and operating profitable, well-established operations in
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Although AEP believes that the expectations reflected in the forward looking statements are reasonable, there is no assurance that such expectations will prove to be correct, or that such future events will occur in the disclosed time frames or at all. AEP cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond AEP's control. Such factors include, among other things: Risks and uncertainties relating to AEP, including those to be described in the Management's Discussion and Analysis ("MD&A") for AEP's three months ended
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
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