Following the acquisition by a person or group of beneficial ownership of 25% or more of the Company's outstanding common stock (exclusive of ESOT shares), the Board of Directors may exchange the Rights (other than Rights owned by such person or group), in whole or in part, at an exchange ratio of two shares of common stock (or two one-hundredths of a share of the new series of junior participating preferred stock) per Right.
Prior to the acquisition by a person or group of beneficial ownership of 25% or more of the Company's common stock (exclusive of ESOT shares), the Rights are redeemable for $.00l per Right at the option of the Board of Directors. The Board of Directors is also authorized to reduce the 25 % thresholds referred to above to not less than 10%.
Servotronics, Inc. is composed of two operating groups — the Advanced Technology Group (ATG) and the Consumer Products Group (CPG). The ATG primarily designs, develops and manufactures servo control and other components for various commercial and government applications (i.e., aircraft, jet engines, missiles, manufacturing equipment, etc.). The CPG designs and manufactures cutlery, bayonets, machetes and combat, survival, sporting, agricultural, and pocket knives for both commercial and government applications.
SERVOTRONICS, INC. (SVT) IS LISTED ON NYSE MKTSOURCE Servotronics, Inc.