Navigation Links
LCA-Vision Adopts Stockholder Rights Plan
Date:11/24/2008

CINCINNATI, Nov. 24 /PRNewswire-FirstCall/ -- LCA-Vision Inc. (Nasdaq: LCAV) ("LCA-Vision" or the "Company"), a leading provider of laser vision correction services under the LasikPlus(R) brand, today announced that its Board of Directors has adopted a stockholder rights plan, and in connection with the rights plan has declared a dividend distribution of one preferred stock purchase right on each outstanding share of LCA-Vision common stock.

Under a Rights Agreement entered into on November 24, 2008 in connection with the adoption of the rights plan, each right will entitle stockholders to buy one one-hundredth newly-issued share of the Company's Series A Junior Participating Preferred Stock at a purchase price of $100.00. The rights initially will trade only with the shares of LCA-Vision common stock to which they are attached, and no separate rights certificates will be issued.

The rights will become exercisable only if a person or group acquires or obtains the right to acquire ownership of 20% or more of LCA-Vision common stock, commences a tender or exchange offer for 20% or more of the common stock, or is declared an "Adverse Person" by the Board of Directors of the Company. The Company will be entitled to redeem the rights at one-tenth of one cent per right at any time before the tenth business day following the date a 20% position has been acquired or a person has been declared an "Adverse Person."

If LCA-Vision is acquired in a merger or other business combination transaction, each right will entitle its holder to purchase, at the right's then-current exercise price, a number of the acquiring company's common shares having a market value at that time of twice the right's exercise price. The rights also provide a similar right for holders (other than an Acquiring Person or Adverse Person as defined in the Rights Agreement) to purchase common shares of LCA-Vision having a market value at that time of twice the right's exercise price under certain circumstances where a person or group has acquired a 20% block of LCA-Vision common stock or been declared an "Adverse Person" by a majority of LCA-Vision's outside directors.

"The rights plan does not prevent a takeover, but is intended to ensure that LCA-Vision's stockholders receive equal treatment in the event of any proposed takeover, and to guard against tactics that could impair the Board's ability to represent stockholders' interests fully. We seek to enable all LCA-Vision stockholders to realize the maximum possible long-term value of their investment in the Company," said Steve Straus, LCA-Vision's Chief Executive Officer. The stockholder rights plan adopted by LCA-Vision is similar to rights plans adopted by many other publicly traded companies.

The distribution of rights will be made on November 24, 2008 to stockholders of record on that date. The rights will expire 10 years later on November 23, 2018. In addition, the rights will terminate one year from the date of their issuance, on November 23, 2009, unless adoption of the rights plan has been ratified by LCA-Vision stockholders prior to that time. The rights distribution is not taxable to stockholders.

Additional information regarding the rights plan and the rights are or will be contained in a Current Report on Form 8-K and in a Registration Statement on Form 8-A that the Company has filed or will be filing with the Securities and Exchange Commission (the "SEC"). These filings will be available on the SEC's web site at www.sec.gov. In addition, the Company will make available to its stockholders upon request a "Summary of the Rights" that will describe the material terms of the rights plan.

About LCA-Vision Inc./LasikPlus(R)

LCA-Vision Inc., a leading provider of laser vision correction services under the LasikPlus(R) brand, operates 77 LasikPlus(R) fixed-site laser vision correction centers in 33 states and 59 markets in the United States and a joint venture in Canada. Additional company information is available at www.lca-vision.com and www.lasikplus.com.

                         Earning Trust Every Moment.

                        Transforming Lives Every Day.

    For Additional Information

    Company Contact:             Investor Relations Contact:
    Barb Kise                    Jody Cain
    LCA-Vision, Inc.             Lippert/Heilshorn & Associates
    513-792-9292                 310-691-7100

'/>"/>
SOURCE LCA-Vision Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Founders & Former Executive Management Team of LCA-Vision Seek Change to Rescue Company
2. LCA-Vision to Present at the Rodman & Renshaw 10th Annual Healthcare Conference
3. LCA-Vision Reports Third Quarter 2008 Financial Results
4. LCA-Vision Named Provider for New Insured Lasik Product
5. LCA-Vision Announces Upcoming Investment Community Events
6. LCA-Vision Provides Business Update and Market Review
7. LCA-Vision Announces CFO Change
8. LCA-Vision Announces Upcoming Investment Community Events
9. LCA-Vision Conducts 2008 Annual Stockholder Meeting
10. LCA-Vision to Present at the Bank of America 2008 Health Care Conference
11. LCA-Vision Announces the Opening of its 76th LasikPlus(R) Vision Center in Woodbridge, New Jersey
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... ... October 12, 2017 , ... Information about the technology: , ... to enable prevention of a major side effect of chemotherapy in children. Cisplatin ... patients. For cisplatin, hearing loss is FDA listed on-label as a dose limiting ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a ... of a 2017 Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners ... October 11, 2017. , The annual award competition recognizes editorial and design excellence across ...
(Date:10/12/2017)... ... October 12, 2017 , ... On Saturday, October 21, the Health & ... by Moonlight to raise money for the American Heart Association Heart Walk. Teams of ... will work together to keep their treadmills moving for 5 hours. Treadmills will start ...
(Date:10/12/2017)... ... , ... Health Literacy Innovations (HLI), creator of the Health ... Cancer Patient Education Network (CPEN), an independent professional organization that shares best practices ... , As CPEN’s strategic partner, HLI will help support CPEN members by ...
(Date:10/12/2017)... ... 12, 2017 , ... Vohra Chief Medical Officer Dr. Shark ... skilled nursing facility medical directors and other clinicians at various events in October. ... "At many of these conferences we get to educate other physicians, facility nurses, ...
Breaking Medicine News(10 mins):
(Date:10/11/2017)... , Oct. 11, 2017  Hill-Rom Holdings, Inc. ... Aspen Surgical facility in Las Piedras, Puerto ... scalpels and blades. ... that the facility sustained minor structural damage, temporary loss ... Maria. Repairs have been completed, manufacturing operations have resumed, ...
(Date:10/5/2017)... ROSEMONT, Ill. , Oct. 5, 2017 /PRNewswire-USNewswire/ ... American Association of Oral and Maxillofacial Surgeons (AAOMS) ... than opioids – to be used as a ... post-surgical pain. ... relationship, the AAOMS White Paper "Opioid Prescribing: Acute ...
(Date:10/2/2017)... , Oct. 2, 2017 Diplomat Pharmacy, Inc. ... Day Software and Consulting, LLC , and named its ... Software, based in Tennessee , will ... Day expands EnvoyHealth,s service offerings for health care partners ... "In an interoperable world, ...
Breaking Medicine Technology: