DUMONT NICKEL INC. (DNI: TSX-Ven, DG7: Frankfurt)
TORONTO, Sept. 19 /CNW/ - Dumont Nickel Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that its shareholders overwhelmingly approved and ratified the Company's Shareholder Rights Plan during Dumont's Annual and Special Meeting held on September 12, 2008. The Plan has also been approved by the TSX Venture Exchange.
The Rights Plan, announced on July 29, 2008, was adopted by Dumont's Board of Directors, to ensure, to the extent possible, that all Dumont shareholders are treated equally and fairly in connection with any take-over bid, and to provide sufficient time for all shareholders to consider any such transaction. Dumont is not aware of any pending of threatened take-over bids for the Company.
Under the Plan, shareholders are issued one Right in respect of each Dumont common share held, such Right being attached to the share. On the occurrence of certain triggering events, including the acquisition by a person or group of 20% or more of the outstanding common shares of the Company pursuant to a transaction that does not meet certain conditions, the Right will entitle its holder (other than the acquiring person or group) to purchase $40.00 worth of Dumont common shares at the then market price for $20.00 (ie: at a 50% discount).
The complete text of the Shareholder Rights Plan agreement is available from www.sedar.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. DNI - TSX Venture DG7 - Frankfurt Issued: 104,798,010