Cap-Ex Ventures Adopts Shareholders Rights Plan
November 21 2011 - 5:36PM
Marketwired
Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:X0V)
("Cap-Ex" or the "Company") is pleased to announce that its Board
of Directors has adopted a Shareholders Rights Plan (the
"Plan").
The purpose of the Plan is to ensure the fair treatment of the
Company's shareholders in the event that any party makes a takeover
bid or similar transaction or proposal (a "Takeover Bid Proposal").
The Plan ensures fair treatment by providing shareholders with 60
to 90 days (in addition to minimum period of 35 days) in which
shareholders can consider a Takeover Bid Proposal and, if they
choose, to withdraw any shares they have tendered to one offer to
tender to a competing or better Takeover Bid Proposal.
The additional time is to be used by the Company and its Board
of Directors to evaluate the Takeover Bid Proposal and make
recommendations to shareholders, complete any assays or other work
in progress which might be relevant to shareholders' decisions on
the Takeover Bid Proposal and to seek other Takeover Bid Proposals
and, through this process, ensure that a fair price is offered to
shareholders. Any Takeover Bid Proposal which does not provide the
Company, its shareholders and its Board of Directors with this time
will (unless the Board of Directors waives the time requirements
upon evaluation of the Takeover Bid Proposal) trigger the potential
exercise of rights granted under the Plan.
The Plan is subject to its approval by the TSX Venture Exchange
(the "Exchange") and, upon Exchange approval, must also be approved
by shareholders at the next meeting of the Company's shareholders.
The Plan is not being adopted in response to any existing Takeover
Bid Proposal. As of now, no party or person has made a formal
Takeover Bid Proposal to the Company or to its Board of
Directors.
For additional information please visit the Company's website at
www.cap-ex.ca.
CAP-EX VENTURES LTD.
Brett Matich, President and CEO
"This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements."
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: Cap-Ex Ventures Ltd. Investor Relations (604)
669-2279info@cap-ex.cawww.cap-ex.ca