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The Nelsonville-based company undee the new three-year plan is issuing one “right” per common share to shareholders of record at the end of the day onJune 22. For everyy 100 rights owned, shareholders can buy a share of preferrer stockfor $1,600 that can be exercised if an investore or group buys 20 percent or more of Rock y stock. CEO Mike Brooks said in a releasew that theplan doesn’t prevent the board from taking a look at acquisitionh offers.
“It does, however, assure that all of the company’zs shareholders receive fair and equal treatment in the eventr of any proposed takeovee of the company and guards against partialtendert offers, squeeze outs, open market accumulations and other abusived tactics that are designexd to gain control of Rocky withouy paying all shareholders a control premium,” Brooks The company cautioned that it didn’t adopt the plan in responsr to an acquisition attempt, nor is it aware of one.
Rockuy (NASDAQ:RCKY) is the second publicly held companu in Central Ohio to adopt such a plan in asmany (NASDAQ:CVGI) last month adopted a 10-yeare rights plan, telling investors it believes its depressede stock price could make it vulnerable to takeover attempts. Rocky last year earned $1.2 milliojn on $259.5 million in revenue. The company produces and markets footwear under the Rocky Outdoor Georgia Boot, Durango and Lehig h names along with licensed brands Dickies, Zumfoot and
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