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Aurvista Gold Corporation Board Announces Adoption of Shareholder Rights Plan
(via Thenewswire.ca) Montreal, Quebec - May 21, 2013, Aurvista Gold Corp. ("Aurvista" or th...
About this update from Maple Gold Mines Ltd
[{"type":"text","content":"\nAurvista Gold Corporation Board Announces Adoption of Shareholder Rights Plan\n\n(via Thenewswire.ca)\n\n \nMontreal, Quebec - May 21, 2013, Aurvista Gold Corp. (\"Aurvista\" or the \"Corporation\") (TSX-V: AVA) announced today that its Board of Directors (the \"Board\") has approved the adoption of a shareholder rights plan (the \"Plan\"). The TSX Venture Exchange has conditionally approved the Plan. While the Plan comes into effect immediately, it is subject to shareholder ratification within six months of its adoption. The Corporation will seek shareholder ratification at its annual and special meeting of the shareholders scheduled to be held on June18, 2013. \n\n \n \nThe Plan was not adopted in response to any actual or threatened takeover bid or other proposal from a third-party to acquire control of the Corporation.\n\n \n \nThe Plan is effective as of May 21, 2013 (the \"Effective Date\"). In accordance with the requirements of the TSX Venture Exchange, the Corporation's shareholders will be asked to confirm the Plan at the annual and special meeting of the shareholders to be held on June 18, 2013. If approved by the shareholders, the Plan will be in effect until the sixth anniversary of the Effective Date, but must be reconfirmed by the shareholders at the 2016 annual meeting.\n\n \n \nAt the close of business on the Effective Date, one right (a \"Right\") will be issued and attached to each common share of the Corporation outstanding at that time. A Right will also attach to each common share of the Corporation issued after the Effective Date. If shareholders do not confirm the Plan at the upcoming general meeting, the Plan and the Rights will terminate and cease to be effective.\n\n \n \nThe Plan is similar to shareholder rights plans adopted by several other Canadian companies. The Plan is not intended to block takeover bids. The Plan includes \"permitted bid\" provisions which will prevent the diluted effect of the Plan from operating if a takeover bid is made by way of a takeover bid circular that, among other things, remains open for a minimum of 60 days and is accepted by a specified proportion of the common shares held by independent shareholders. The Plan will be triggered by an acquisition, other than pursuant to a Permitted Bid, of 20% or more of the outstanding common shares of the Corporation or the comme...