Jaguar Mining Announces Adoption of a Shareholder Protection Rights Plan; Shrs Near Yr Lows


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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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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