DNI METALS INC. (DNI : TSX-Ven)(DG7 : Frankfurt)
TORONTO, Sept. 19, 2011 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven)(DG7:FSE) is pleased to announce that its shareholders overwhelmingly approved
and ratified the Company's Amended and Restated Shareholder Rights Plan
(the "Rights Plan") during DNI's Annual and Special Meeting held on
September 15, 2011. Shareholders also approved amendments to DNI's
articles and its by-laws.
The Rights Plan, announced on June 30, 2011, was adopted by DNI's Board
of Directors, to ensure, to the extent possible, that all DNI
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. DNI is not aware of any pending or
threatened take-over bids for the Company.
Under the Rights Plan, shareholders are issued one Right in respect of
each DNI 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
DNI pursuant to a transaction that does not meet certain conditions,
each Right will entitle its holder (other than the acquiring person or
group) to purchase $40.00 worth of DNI common shares, at the then
market price, for $20.00 (ie: at a 50% discount).
The complete text of the Amended and Restated Plan will shortly be
available from www.sedar.com. The Rights Plan has been conditionally accepted by the TSX Venture
DNI thanks shareholders for their continued support and encourages them
to follow ongoing developments from its exploration and development
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.
DNI - TSX Venture
DG7 - Frankfurt
SOURCE DNI Metals Inc.
For further information:
DNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement, Chairman - 416-595-1195
email email@example.com. Also visit www.dnimetals.com