Business
Gammon Gold Inc. Adopts a Shareholder Rights Plan
Gammon Gold Inc. Adopts a Shareholder Rights Plan
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n\n Aug. 19, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nTSX: GAM / NYSE: GRS / BSX: GL7\n\nTORONTO, Aug. 19 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE:GRS): announced today that its Board of Directors has approved the adoption of a shareholder rights plan agreement (the "Plan") effective August 19, 2010 (the "Effective Date"). The Plan is designed to ensure that Gammon's shareholders are treated fairly in the event of a take-over bid for Gammon's common shares and that Gammon's Board of Directors and shareholders will have adequate time to evaluate any unsolicited take-over bid and, if appropriate, evaluate and pursue other alternatives to maximize shareholder value.\nThe Plan was not adopted in response to any actual or threatened take-over bid or other proposal from a third party to acquire control of Gammon and is not intended to block take-over bids. The Plan is similar to shareholder rights plans adopted by other Canadian companies.\nThe plan has been conditionally accepted for filing by the Toronto Stock Exchange subject to shareholder approval. The Plan must be confirmed by the shareholders within six months from the Effective Date and Gammon intends to seek shareholder approval of the Plan at a special meeting of shareholders to be held within such time frame. The Plan is also subject to certain other regulatory approvals, including approval by the New York Stock Exchange.\nAt the close of business on the Effective Date, one right (a "Right") will be issued and attached to each common share of Gammon outstanding at that time and to each common share issued after the Effective Date.\n\nAbout Gammon Gold\n\nGammon Gold Inc. is a mid-tier gold and silver producer with properties in Mexico. Gammon's flagship Ocampo Property in Chihuahua State achieved commercial production in January 2007. Gammon Gold also owns the suspended El Cubo mine in Guanajuato State and has the p...