Jaguar Mining Inc. (JAG.TO, JAG), near a year low 39.5 cents,
announced that it has adopted a shareholder protection rights plan,
effective May 2, 2013. The corporation said it is not aware of any
specific take-over bid that has been made or is contemplated.
It said the objective of the Rights Plan is to ensure, to the
extent possible, that all shareholders of the Corporation are
treated equally and fairly in connection with any initiative to
acquire control of the Corporation.
The Rights Plan is not intended to and will not prevent a
take-over of the Corporation. The purpose of the Rights Plan is to
encourage a potential bidder to make a "Permitted Bid", having
terms and conditions designed to meet the objectives of the Rights
Plan, or to negotiate the terms of an offer with the board of
directors of the Corporation. A Permitted Bid is a take-over bid
that is made to all holders of voting shares of the Corporation
(other than the bidder), by way of a take-over bid circular
prepared in compliance with applicable securities laws, that
remains open for acceptance by shareholders of the Corporation for
60 days, and that satisfies certain other conditions.
The Rights Plan must be confirmed by shareholders within six
months of its effective date. The Corporation currently intends to
seek shareholder approval of the Rights Plan at its next annual and
special meeting of shareholders to be held on June 10, 2013.
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