Shareholder Rights PlanOn August 25, 2010, Uranerz Energy Corporation implemented a Shareholder Rights Plan which was approved by Company shareholders at the June 2010 annual general meeting.
The purpose of the Plan is to ensure that shareholders of the Company are treated fairly in connection with any bid to acquire control of the Company. The Plan is designed to ensure that, in the context of a bid for control of the Company through an acquisition of shares of common stock of the Company, the Board has sufficient time to explore and develop alternatives for maximizing shareholder value, to provide adequate time for competing bids to emerge, to ensure that shareholders have an equal opportunity to participate in such a bid and give shareholders adequate time to properly assess the bid and lessen the pressure to tender that is typically encountered by shareholders of companies that are subject to takeover bids.
In August 2010, Uranerz sent a letter to its shareholders to announce the implementation of the Rights Plan. To read that letter and the accompanying summary of the Shareholder Rights Plan, please click here.
To read the full Shareholder Rights Plan on the SEC website click here.