Oramed Pharmaceuticals Inc. announced the adoption of a Rights Agreement and the declaration of a dividend of one common stock purchase right on each outstanding share.
The Rights are designed to ensure fair treatment in the event of a hostile takeover, guard against control tactics without fair compensation, and empower the Board in negotiations.
Stockholders will be entitled to purchase one share of Common Stock at $10.00 under the Rights Agreement after specific conditions are met.
Dividend Distribution
Rights Plan adopted with one common stock purchase right per share.
Exercisable Rights
Stockholders can buy one share at $10.00 per Right under specific conditions.
Board's Authority
The Board has the power to redeem the Rights or exchange them for Common Stock.
- The Rights Plan aims to protect stockholders during potential takeover attempts.
- Stockholders will have the opportunity to purchase additional shares at a predetermined price under specific circumstances.
The dividend distribution and Rights Plan by Oramed Pharmaceuticals Inc. aim to safeguard stockholders' interests and bolster the company's negotiating position in potential acquisition scenarios.