Pinetree Capital Ltd. Announces Approval Of Shareholder Rights Plan
April 11, 2008
TORONTO, Canada (April 11, 2008) (TSX: PNP) (“Pinetree” or the “Company”) announces that its shareholder rights plan (the “Rights Plan”), which was adopted by Pinetree’s board of directors and previously announced on November 12, 2007, has been approved by the Company’s shareholders at its annual and special meeting held today.
The Rights Plan is intended to provide the Company’s board of directors with adequate time to assess a take-over bid, to consider alternatives to a take-over bid as a means of maximizing shareholder value, to allow competing bids to emerge, and to provide Pinetree’s shareholders with adequate time to properly assess a take-over bid without undue pressure.
The Rights Plan will expire at the end of Pinetree’s annual shareholders’ meeting in 2011, unless it is confirmed by shareholders at that meeting. A copy of the Rights Plan is available to the public for viewing on SEDAR at www.sedar.com under Pinetree’s profile.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
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