This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tredegar Amends Shareholder Rights Agreement

Tredegar Corporation (NYSE:TG) today announced that its Board of Directors has amended its shareholder rights agreement to better align it with shareholder interests and corporate governance best practices.

The terms of the amended shareholder rights agreement (the “Revised Rights Agreement”):
    (i)     Increase the ownership threshold for triggering the rights agreement to 20 percent of the outstanding shares of the Company’s common stock from 15 percent. Investors holding in excess of 20 percent on the date of amendment are exempted from this provision and “frozen” at current ownership, although these investors may increase their ownership by up to one percent.
(ii) Add a “qualifying offer” provision to allow shareholders representing at least 10% of the outstanding shares of the Company’s common stock to call a special meeting to vote to rescind the Revised Rights Agreement if a qualified offer is received.
(iii) Eliminate “dead hand” provisions that allowed only “continuing directors” to redeem stock purchase rights issued under the existing rights agreement.
(iv) Require approval by a majority of Tredegar shareholders within 12 months of the amendment. If the Revised Rights Agreement is not approved by a majority of Tredegar shareholders within 12 months of the amendment, the Board must redeem the Revised Rights Agreement.
(v) Require re-approval of the Revised Rights Agreement by the majority of Tredegar shareholders by the third anniversary of initial shareholder approval. If the Revised Rights Agreement is not re-approved by a majority of Tredegar shareholders within such three years, the Board must redeem the Revised Rights Agreement.

The expiration date of the Revised Rights Agreement remains June 30, 2019.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs