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Atlas Engineered Announces Adoption of Shareholder Rights Plan
Atlas Engineered Announces Adoption of Shareholder Rights Plan Canada NewsWire ...
About this update from Atlas Engineered Products Ltd.
[{"type":"text","content":"\n \n \n \n Atlas Engineered Announces Adoption of Shareholder Rights Plan\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n NANAIMO, BC\n \n \n ,\n \n \n Sept. 27, 2023\n \n \n /CNW/ - Atlas Engineered Products (\"AEP\" or the \"Company\") (TSXV: AEP) (OTC Markets: APEUF) announced today that its Board of Directors has approved the adoption of a shareholder rights plan (the \"\n \n Plan\n \n \"), effective\n \n September 26, 2023\n \n (the \"\n \n Effective Date\n \n \").\n \n \n 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 \"\n \n Common Shares\n \n \") 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.\n \n \n Under the provisions of the Plan, one right (a \"\n \n Right\n \n \") 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 \"\n \n Acquiring Person\n \n \"), together with ce...