RICHMOND, BC, Jan. 8 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
(TSX: MDA), a provider of essential information solutions, announced today
that its Board of Directors has adopted a Shareholder Rights Plan (the 'Rights
Plan'). The Rights Plan, which takes effect today, has been adopted to ensure
the fair treatment of shareholders in the event of any take-over offer for the
company's common shares.
The Rights Plan is not intended to prevent take-over bids that treat
shareholders fairly. Bids that meet certain requirements intended to protect
the interests of all shareholders are deemed to be 'Permitted Bids' under the
Rights Plan. Permitted Bids are offers to acquire common shares of the company
made by way of a take-over circular and which must, among other requirements
described in the Rights Plan, remain open for at least 60 days.
The company is not adopting the Rights Plan in response to, or in
anticipation of, any specific take-over bid or proposal to acquire control of
the company. The Rights Plan is similar to plans adopted by other Canadian
companies. The full text of the Rights Plan is available on the SEDAR website
The Rights Plan has conditionally been approved by the Toronto Stock
Exchange and is subject to ratification by the company's shareholders at the
next meeting of shareholders. If ratified by shareholders, the Rights Plan
will expire at the termination of the company's annual meeting in 2011, unless
extended upon reconfirmation by shareholders at that meeting. Subsequently,
the Rights Plan must be reconfirmed by shareholders at every third annual
meeting of the company thereafter.
MDA provides advanced information solutions that capture and process vast
amounts of data, produce essential information, and improve the decision
making and operational performance of business and government organizations
Focused on markets and customers with strong repeat business potential,
MDA delivers a broad spectrum of information solutions, ranging from complex
operational systems, to tailored information services, to electronic
MDA employs more than 3,000 people in locations across the United States,
the United Kingdom, and Canada. The Company's common shares trade on the
Toronto Stock Exchange under the symbol TSX: MDA. For more information see
This release contains forward-looking statements and information, which
reflect the current view of MacDonald, Dettwiler and Associates Ltd. with
respect to future events and financial performance. Any such forward-looking
statements are subject to risks and uncertainties and MDA's actual results of
operations could differ materially from historical results or current
expectations. Additional information on these and other potential factors that
could affect MDA's financial results are detailed in documents filed from time
to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form
or content of this release.
For further information:
For further information: Wendy Keyzer, MDA External Relations, (604)