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Kensey Nash Corporation Adopts Stockholder Rights Plan
Date:6/19/2009

EXTON, Pa., June 19 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY), a leading medical technology company providing innovative solutions and technologies for a wide range of medical procedures, announced today that its board of directors adopted a stockholders' rights plan. The rights plan is designed to protect the Company and its stockholders from potentially coercive takeover practices or takeover bids and to prevent an acquiror from gaining control of the Company without offering a fair price to the stockholders. The plan is not intended to deter offers that are fair and otherwise in the Company's and its stockholders' best interests.

The Company's adoption of this plan was not prompted by any external actions, as no party has made any hostile advances or indicated an interest in acquiring the Company. The Company adopted the plan in order to give its board of directors time to evaluate and respond to any unsolicited future takeover attempts. The plan is similar to plans adopted by many other public companies.

Under the plan, the Company will distribute, as a dividend, one preferred stock purchase right for each share of common stock held of record as of the close of business on June 19, 2009. The plan has a term of 10 years and will expire on June 19, 2019, unless the Company earlier redeems the rights or the board terminates the plan. Subject to certain exceptions described in the plan, the rights are exercisable only if a person, entity or group acquires 15% or more of Kensey Nash's common stock. Each right, if and when it becomes exercisable, entitles a holder to buy one one-thousandth of a share of junior participating preferred stock for $200.00, subject to certain conditions in the plan under which the exercise price may change. However, upon the occurrence of a person, entity or group acquiring 15% or
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SOURCE Kensey Nash Corporation
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