Press release from CNW Group
Solium Adopts Shareholder Rights Plan
Monday, April 08, 2013
Solium Adopts Shareholder Rights Plan08:00 EDT Monday, April 08, 2013
CALGARY, April 8, 2013 /CNW/ - The Board of Directors of Solium Capital Inc. ("Solium" or the "Corporation") has adopted a shareholder rights plan (the "Rights Plan") effective April 1, 2013. The Rights Plan was adopted in an effort to ensure the fair treatment of all Solium shareholders in connection with any take-over bid for the outstanding common shares of Solium. The Rights Plan is intended to provide the Corporation's Board of Directors sufficient time to explore and develop alternatives for maximizing shareholder value if a take-over bid is made for Solium and to provide every shareholder an equal opportunity to participate in such a bid.
The Rights Plan is similar to the type of rights plans adopted by other Canadian public companies. The Rights Plan is not being adopted in response to any actual or threatened take-over bid or other proposal from a third party to acquire control of Solium. The Rights Plan is not intended to prevent take-over bids that treat the Corporation's shareholders fairly. Under the Rights Plan, a bid that, among other things, is made to all shareholders on identical terms and conditions and that is open for at least 60 days may constitute a "Permitted Bid".
Computershare Trust Company of Canada, as registrar and transfer agent for Solium's shares, has been appointed as rights agent pursuant to the Rights Plan.
The Rights Plan has been conditionally approved by the Toronto Stock Exchange. Solium expects to seek shareholder approval and ratification of the Rights Plan at its upcoming annual and special meeting of the shareholders to be held on May 15, 2013. If the Rights Plan is not ratified, the Rights Plan and all rights issued thereunder will terminate. A complete copy of the Rights Plan is available on SEDAR at www.sedar.com.
About Solium Capital Inc.
Solium Capital Inc. (TSX: SUM) provides cloud-enabled services for global equity administration, financial reporting and compliance. From our operation centers in the United States, Canada, the United Kingdom and Australia, our innovative software-as-a-service (SaaS) technology powers share plan administration and equity transactions for more than 3,000 corporate clients with employee participants in more than 150 countries. Follow us @Solium and visit us at solium.com.
SOURCE: Solium Capital Inc.
For further information:
Aaron Kabucis, CFA
TMX | Equicom
416.815.0700 x 230