NioCorp Developments Ltd. adopts a limited-duration shareholder rights plan to protect and maximize value for shareholders.
The plan aims to ensure equal treatment of all shareholders in case of unsolicited takeover bids or attempts to acquire control of the company.
One Right will be issued for each outstanding common share, with specific conditions for exercise in case of acquiring 20% or more of outstanding Common Shares.
Purpose of the Plan
Ensure fair treatment of shareholders and provide adequate time to respond to takeover bids.
Permitted Bid Definition
Details conditions for a takeover bid compliant with the Canadian takeover bid regime.
Plan Duration
The limited-duration shareholder rights plan has a term of six months, expiring on May 21, 2026.
- The adoption of the shareholder rights plan demonstrates the company's commitment to shareholder protection and preservation of value.
- It provides a framework to deter unsolicited takeover attempts and allows for a measured response from the board and shareholders.
NioCorp's implementation of the limited-duration shareholder rights plan reflects proactive governance measures to safeguard shareholder interests and maintain control premiums.