DNI shareholders approve Shareholder Rights Plan & by-law amendments
19 September 2011 - 10:00PM
PR Newswire (Canada)
DNI METALS INC. TORONTO, Sept. 19, 2011 /CNW/ - DNI Metals Inc. is
pleased to announce that its shareholders overwhelmingly approved
and ratified the Company's Amended and Restated Shareholder Rights
Plan (the "Rights Plan") during DNI's Annual and Special Meeting
held on September 15, 2011. Shareholders also approved amendments
to DNI's articles and its by-laws. The Rights Plan, announced on
June 30, 2011, was adopted by DNI's Board of Directors, to
ensure, to the extent possible, that all DNI shareholders are
treated equally and fairly in connection with any take-over bid,
and to provide sufficient time for all shareholders to consider any
such transaction. DNI is not aware of any pending or threatened
take-over bids for the Company. Under the Rights Plan, shareholders
are issued one Right in respect of each DNI common share held, such
Right being attached to the share. On the occurrence of certain
triggering events, including the acquisition by a person or group
of 20% or more of the outstanding common shares of DNI pursuant to
a transaction that does not meet certain conditions, each Right
will entitle its holder (other than the acquiring person or group)
to purchase $40.00 worth of DNI common shares, at the then market
price, for $20.00 (ie: at a 50% discount). The complete text of the
Amended and Restated Plan will shortly be available from
www.sedar.com. The Rights Plan has been conditionally accepted by
the TSX Venture Exchange. DNI thanks shareholders for their
continued support and encourages them to follow ongoing
developments from its exploration and development programs. Neither
the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. DNI - TSX Venture DG7 - Frankfurt Issued: 60,100,284 DNI
Metals Inc. CONTACT: DNI Metals Inc. - Shahe Sabag, President &
CEO or Denis Clement,Chairman - 416-595-1195email ir@dnimetals.com.
Also visit www.dnimetals.com
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