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Article: Ault Incorporated Adopts Shareholder Rights Plan.
- Article from:
- Business Wire
- Article date:
- February 29, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MINNEAPOLIS--(BUSINESS WIRE)--Feb. 29, 1996--Ault Incorporated today announced that its Board of Directors has unanimously adopted a shareholder rights plan designed to ensure that all of the Company's shareholders receive fair treatment in the event of any proposal to acquire the Company.
The Board declared a distribution of one Right for each share of common stock outstanding on March 4, 1996. Each Right entitles the holder to purchase 1/100th of a share of a new series of Junior Participating Preferred Stock of Ault at an initial exercise price of $36.
Initially, the Rights will be attached to the common stock and will not be exercisable. They become ...