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File photo of Sandvine president and CEO David Caputo

GEOFF ROBINS/geoff robins/The Globe and Mail

Sandvine Corp. has adopted a shareholder rights plan with a 20-per-cent trigger, but the network equipment maker said it was not aware of any takeover proposal.

A shareholder rights plan, also called poison pill, allow companies to issue new shares if an investor acquires shares over a certain threshold, diluting their holdings.

The plan is subject to shareholder approval at Sandvine's annual meeting on April 5 and if effected, a rights holder can buy shares at a 50-per-cent discount to the market price at that time.

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The poison pill will expire in 2015, said Sandvine, whose customers include Spanish telecom giant Telefonica, U.S. cable operator Comcast Corp. and Singapore's StarHub.

Sandvine shares closed at $1.56 on Tuesday on the Toronto Stock Exchange.

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