{"id":2820,"date":"2012-05-17T17:48:00","date_gmt":"2012-05-17T17:48:00","guid":{"rendered":"https:\/\/www.arianne-inc.com\/?post_type=news&p=1990"},"modified":"2022-03-03T17:54:44","modified_gmt":"2022-03-03T17:54:44","slug":"arianne-resources-to-renew-its-shareholder-rights-plan","status":"publish","type":"post","link":"https:\/\/itremma.com\/arianne\/arianne-resources-to-renew-its-shareholder-rights-plan\/","title":{"rendered":"ARIANNE RESOURCES TO RENEW ITS SHAREHOLDER RIGHTS PLAN"},"content":{"rendered":"\n

Saguenay, May 17, 2012. <\/strong>The management of Arianne Resources Inc. (\u201cArianne\u201d or the \u201cCompany\u201d) announces that its\u00a0 Board of Directors has adopted as of May 10, 2012 a resolution to renew the Corporation\u2019s Shareholder Rights Plan (the\u00a0 \u201cPlan\u201d) as initially adopted on January 13th<\/sup>, 2009. Renewal of the Plan will be submitted for voting at the next Annual shareholders meeting on June 19, 2012. The Plan encourages fair treatment of shareholders should a take-over bid be made for Arianne, and will provide the Board of Directors of Arianne (the \u201cBoard\u201d) and the Shareholders more time to consider an unsolicited take-over bid for Arianne. The Plan is intended to discourage coercive or unfair take-over bids and gives the Board time to pursue alternatives to maximize Shareholder\u2019s value, if appropriate, in the event of an unsolicited take-over bid.\u00a0\u00a0<\/p>\n\n\n\n

The Plan has not been adopted in response to, or in contemplation of, any specific proposal to acquire control of Arianne.\u00a0 The Plan is subject to acceptance by the TSX Venture Exchange and must be ratified by the Shareholders within six months of the effective date of the Plan. Unless otherwise terminated in accordance with its terms, the Plan will terminate at the close of the third Annual Meeting of Arianne Shareholders following the meeting at which the Plan is ratified by\u00a0 Shareholders, unless the Plan is reconfirmed and extended at such meeting.\u00a0\u00a0<\/p>\n\n\n\n

The Board is of the view that the success of the recent exploration campaigns on the Lac \u00e0 Paul property might have created an environment where an opportunistic take-over offer could be made for Arianne. Such an offer may not be in the best interest of all Shareholders. Consequently, the Board of Directors has adopted a Shareholder Rights Plan, the benefits of which extend to Arianne Shareholders should an offer be made for Arianne.\u00a0\u00a0<\/p>\n\n\n\n

The Rights issued under the Plan will become exercisable only when a person, including any party related to it, acquires or announces its intention to acquire 20% or more of the outstanding shares of Arianne without complying with the\u00a0 \u201cPermitted Bid\u201d provisions of the Plan or without approval of the Board. Should such acquisition occur, each right will,\u00a0 upon exercise, entitle a right holder other than the acquiring person or related persons to purchase shares of Arianne at a\u00a0 substantial discount to the market price at the time.\u00a0\u00a0<\/p>\n\n\n\n

Under the Plan, a \u201cPermitted Bid\u201d is a bid made to all shareholders of Arianne and is open for acceptance for not less than\u00a0 60 days. If, at the end of such 60 day period, at least 50% of the outstanding shares, other than those owned by the offer or certain related parties, have been tendered, the offer or may take up and pay for the shares but must extend the bid for a\u00a0 further 10 days to allow other shareholders to tender.\u00a0\u00a0<\/p>\n\n\n\n

The Plan is similar to other Shareholder Rights Plan recently adopted by several other Canadian companies and approved  by their respective shareholders. The full text of the Plan can be viewed on SEDAR. <\/p>\n\n\n\n

Arianne Resources (<\/strong>www.arianne-inc.com<\/a>), <\/strong>through its wholly owned subsidiary, Canada Phosphate\u00a0 (<\/strong>www.canadaphosphate.com<\/a>), <\/strong>is developing the Lac \u00e0 Paul phosphorus-titanium deposit, which will produce high quality apatite concentrate grading 39% P2O5. Arianne Resources also explores properties highly prospective for gold, silver and other metals, in Canada and Mexico. The Company has 67 million outstanding shares.\u00a0<\/p>\n\n\n\n

Neither 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.  <\/p>\n\n\n\n

Source: <\/strong>Bernard Lapointe, C.E.O Tel: (418) 549-7316 bernard@arianne-inc.com<\/a>\u00a0<\/p>\n\n\n\n

Info: <\/strong>Jim Cowley, President Tel: (801) 599-3789 jim@arianne-inc.com<\/a> Louis Morin \u2013 Investors Relations Tel: (514) 845-1101 lmorin@thebidcapitalmarkets.com<\/a>\u00a0<\/p>\n\n\n\n

Follow Arianne on<\/strong>:  <\/p>\n\n\n\n

Facebook<\/strong>: http:\/\/www.facebook.com\/pages\/Arianne-Resources-Inc\/113071105425184<\/a>\u00a0<\/p>\n\n\n\n

Twitter: <\/strong>http:\/\/twitter.com\/arianne_dan<\/a>\u00a0<\/p>\n\n\n\n

Youtube: <\/strong>http:\/\/www.youtube.com\/user\/ArianneResources<\/a>\u00a0<\/p>\n\n\n\n

Flickr: <\/strong>http:\/\/www.flickr.com\/photos\/arianneresources<\/a>\u00a0<\/p>\n\n\n\n

Resources Investing News:<\/strong> http:\/\/resourceinvestingnews.com\/?s=Arianne<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Saguenay, May 17, 2012. The management of Arianne Resources Inc. (\u201cArianne\u201d or the \u201cCompany\u201d) announces that its\u00a0 Board of Directors has adopted as of May 10, 2012 a resolution to renew the Corporation\u2019s Shareholder Rights Plan (the\u00a0 \u201cPlan\u201d) as initially adopted on January 13th, 2009. Renewal of the Plan will be submitted for voting at […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[],"tags":[],"class_list":["post-2820","post","type-post","status-publish","format-standard","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/posts\/2820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/comments?post=2820"}],"version-history":[{"count":0,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/posts\/2820\/revisions"}],"wp:attachment":[{"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/media?parent=2820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/categories?post=2820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/tags?post=2820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}