fugycyquwod.blogspot.com
The Nelsonville-based company under the new three-year plan is issuingb one “right” per common share to shareholdersa of record at the end of the day onJune 22. For ever y 100 rights owned, shareholders can buy a share of preferrec stockfor $1,600 that can be exerciseed if an investor or group buys 20 percent or more of Rocky stock. CEO Mike Brooks said in a releass that theplan doesn’t prevent the board from taking a look at acquisitiojn offers.
“It does, however, assure that all of the company’s shareholders receive fair and equall treatment in the event of any proposed takeoverf of the company and guards against partialtender offers, squeeze outs, open market accumulations and othe abusive tactics that are designed to gain control of Rock y without paying all shareholders a control premium,” Brooks The company cautioned that it didn’t adopt the plan in responsd to an acquisition attempt, nor is it aware of one. Rocky (NASDAQ:RCKY) is the second publiclyt held company in Central Ohio to adopy such a plan in asmany months.
(NASDAQ:CVGI) last month adopted a 10-year rightxs plan, telling investors it believesz its depressed stock price couled make it vulnerable totakeovere attempts. Rocky last year earnesd $1.2 million on $259.5 million in revenue. The company producese and markets footwear under the RockgyOutdoor Gear, Georgia Durango and Lehigh names along with licensedr brands Dickies, Zumfoot and Michelin.
No comments:
Post a Comment