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Article: Adaptive Broadband Corporation Adopts New Three-Year Stockholder Rights Plan; Will Propose Stockholder-Friendly, Chewable Provision for Plan at Regularly Scheduled Stockholder Meeting in October.
- Article from:
- Business Wire
- Article date:
- June 25, 1999
CopyrightCOPYRIGHT 1999 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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SUNNYVALE, Calif.--(BUSINESS WIRE)--June 24, 1999--
Adaptive Broadband Corporation (Nasdaq/NMS:ADAP) announced that upon the expiration of its current stockholder rights plan July 26, 1999, its Board of Directors approved the adoption of a new three-year Stockholder Rights Plan under which all stockholders of record as of July 26, 1999, will receive rights to purchase shares of Common Stock.
The company intends to propose an amendment to its certificate of incorporation that would add a stockholder-friendly "chewable" feature for the Rights Plan, for approval by a vote of its stockholders at its regularly scheduled stockholder meeting in October 1999. ...