Business
Finavera Renewables Adopts Strategic Shareholder Rights Plan
Finavera Renewables Adopts Strategic Shareholder Rights Plan
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"\n\n\n\n Aug. 13, 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\nVANCOUVER, Aug. 13 /CNW/ - Finavera Renewables Inc. ("Finavera Renewables" or the "Company") (TSX-V: FVR) announces that its Board of Directors has adopted a Strategic Shareholder Rights Plan ("Strategic Rights Plan"). On April 16, 2010, the Board of Directors of the Company adopted a short-term, tactical shareholder rights plan. The Company has determined that it is advisable and in the best interests of the Company and its shareholders to implement a long-term Strategic Rights Plan.\nThe Strategic Rights Plan is designed to: ensure that the shareholders of the Company and the Board of Directors have adequate time to consider and evaluate any unsolicited bid for the Company's common shares; provide the Board of Directors with adequate time to identify, develop and negotiate value-enhancing alternatives, if considered appropriate, to any such unsolicited bid; and encourage the fair treatment of shareholders in connection with any take-over offer for the Company's common shares.\nThe Strategic Rights Plan has not been adopted in response to any specific proposal to acquire control of the Company, nor is the Company aware of any such intention. The adoption of the Strategic Shareholder Rights Plan is subject to regulatory approval and shareholder approval at the Company's next Annual General Meeting.\nA complete copy of the Strategic Rights Plan is being filed on SEDAR (www.sedar.com).\n\nJason Bak, CEO\n\nAbout Finavera Renewables Inc. (www.finavera.com)\n\nFinavera Renewables Inc. is dedicated to the development of wind energy resources. The Company's objective is to become a major renewable and green energy producer by developing and operating its assets in the wind sector. Finavera Renewables is developing wind energy projects in Canada and Ireland. In British Columbia, Canada, projects totaling 301 MW have been awarded Electricity Purcha...