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Currency Exchange International Announces Adoption of Shareholder Rights Plan
TORONTO, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (the “ ...
About this update from Currency Exchange International, Corp.
[{"type":"text","content":"Currency Exchange International Announces Adoption of Shareholder Rights Plan\n\n\n\n TORONTO, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (the “\n \n Group\n \n ” or “\n \n CXI\n \n ”) (TSX: CXI; OTCQX: CURN), announced today that its board of directors (the “Board”) has unanimously approved the adoption of a “new generation” shareholder rights plan (the “Rights Plan”) pursuant to a shareholder rights plan agreement entered into with Computershare Trust Company of Canada, as rights agent, dated October 27, 2025 (the “Effective Date”).\n \n\n In alignment with good governance practices, the Rights Plan is being adopted to help ensure that all shareholders of the Company are treated fairly and equally in the event of any unsolicited take-over bid or other acquisition of control of the Company (including by way of a “creeping take-over bid\"), allowing the Board time and opportunity to identify, solicit and develop potential alternatives to any unsolicited take-over bids or similar transactions. The Rights Plan also may prevent a potential acquirer from entering into lock-up agreements with existing shareholders prior to launching a take-over bid, except for permitted lock-up agreements as specified in the Rights Plan. The Rights Plan is not being adopted in response to any formal proposal or intention to acquire control of the Company, nor is the Board aware of any pending or threatened take-over bid for the Company. As a result, the Board of Directors has determined that it is advisable and in the best interests of the Company and its shareholders that the Company has in place a shareholder rights plan in the form of the Rights Plan.\n \n\n\n The Rights Plan\n \n\n\n Pursuant to the Rights Plan, at the close of business on the Effective Date (the “Record Time”) one right (a “Right”) will be attached to each common share of the Company outstanding as of the Effective Date under the Rights Plan. A right will also be attached to each common share issued after the Record Time. The issuance of Rights will not change the manner in which shareholders may trade their common shares. Subject to the terms of the Rights Plan, the Rights become exercisable if a person (an “Acquiring Person...