MDS Announces Renewal of Company's Shareholders Rights Plan
18 März 2009 - 10:00PM
PR Newswire (US)
TORONTO, March 18 /PRNewswire-FirstCall/ -- MDS Inc. (TSX: MDS;
NYSE: MDZ), a leading provider of products and services to the
global life-sciences markets, today announced that shareholders
approved the renewal of the Company's Shareholder Rights Plan at
the Company's 2009 Annual and Special Meeting of Shareholders held
March 12, 2009 in Toronto. The principal purpose of Plan continues
to be to encourage a party who wishes to become the beneficial
owner of 20% or more of the Common Shares of the Company either to
make a Permitted Bid (as defined in the Plan) having terms and
conditions designed to meet the objectives of the Plan, or to
negotiate the terms of the offer with the Board of Directors of the
Company. Subject to certain limited exceptions in the Plan, if a
party becomes the beneficial owner of 20% or more of the Common
Shares other than by way of a Permitted Bid or another transaction
supported by the Board of Directors, shareholders (other than the
offeror and its joint actors) would be entitled to purchase
additional Common Shares from the Company at a 50% discount to
market, thereby substantially diluting the offeror's position. In
the event of an unsolicited takeover bid, the Board of Directors
believes that the provisions of the Plan will provide the Board
with additional time to evaluate unsolicited takeover bids, and to
explore and develop alternatives to maximize shareholder value, to
provide for equal treatment of all shareholders and lessen the
pressure on a shareholder to tender to a bid. The Plan will expire
at the close of business on the date upon which the Annual Meeting
of Shareholders to be held in 2012 terminates unless the Plan is
further renewed, subject to earlier termination or expiration of
the rights as set out in the Plan. The Plan has been filed on SEDAR
and is available at http://www.sedar.com/. About MDS MDS Inc. (TSX:
MDS; NYSE: MDZ) is a global life sciences company that provides
market-leading products and services that our customers need for
the development of drugs, and the diagnosis and treatment of
disease. We are a leading global provider of pharmaceutical
contract research, medical isotopes for molecular imaging,
radiotherapeutics, and analytical instruments. MDS has more than
5,000 highly skilled people in 29 countries. Find out more at
http://www.mdsinc.com/ or by calling 1-888-MDS-7222, 24 hours a
day. DATASOURCE: MDS Inc. CONTACT: MEDIA: Paul Stulberg, (416)
675-6777, ext. 32265, ; INVESTORS: Kim Lee, (416) 213-4721,
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