Navigation Links
AMRI Renews Shareholder Rights Plan
Date:7/27/2012

ALBANY, N.Y., July 27, 2012 /PRNewswire/ --  AMRI (NASDAQ: AMRI) announced today that its Board of Directors has renewed the company's Shareholder Rights Plan.

(Logo: http://photos.prnewswire.com/prnh/20120229/NY61160LOGO)

Thomas E. D'Ambra, Ph.D., AMRI's Chairman, President and CEO, stated, "The Board believes that the Shareholder Rights Plan continues to enhance its ability to protect shareholder interests and ensures that shareholders receive fair treatment in the event of any coercive takeover attempt. The Plan is intended to provide the Board with sufficient time to consider any and all alternatives to such an action. The Board believes it is protecting the interests of all of its shareholders."

The renewed Shareholder Rights Plan contains a "TIDE" provision, which requires an independent committee of the Board of Directors to review the Shareholder Rights Plan at least once every three years and to determine whether maintaining the Plan continues to be in the best interest of the stockholders.

In connection with the renewal of the Shareholder Rights Plan, the Board of Directors declared a dividend distribution of one preferred stock purchase right for each outstanding share of AMRI common stock to shareholders of record as of the close of business on July 30, 2012. Initially, these rights will not be exercisable and will trade with the shares of AMRI common stock. Under the Shareholder Rights Plan, the rights generally will become exercisable if a person becomes an "acquiring person" by acquiring 15% or more of the common stock of AMRI or if a person commences a tender offer that could result in that person owning 15% or more of the common stock of AMRI. If a person becomes an "acquiring person," each holder of a right (other than the acquiring person) would be entitled to purchase, at the then-current exercise price, such number of shares of preferred stock which are equivalent to shares of AMRI common stock having a value of twice the exercise price of the right. If AMRI is acquired in a merger or other business combination transaction after any such event, each holder of a right would then be entitled to purchase, at the then-current exercise price, shares of the acquiring company's common stock having a value of twice the exercise price of the right.

To facilitate renewal of the Shareholder Rights Plan, the Board of Directors approved an amendment to the company's old rights plan terminating that plan contemporaneously with the renewal.

About AMRI

Albany Molecular Research, Inc. (AMRI) is a global contract research and manufacturing organization offering customers fully integrated drug discovery, development, and manufacturing services. For over 21 years AMRI has demonstrated its adaptability as the pharmaceutical and biotechnology industries have undergone tremendous change in response to multiple challenges. This experience, a track record of success and locations in the United States, Europe and Asia now provides our customers with SMARTSOURCING™, a full range of value-added opportunities providing customers informed decision-making, enhanced efficiency and more successful outcomes at all stages of the pipeline. AMRI has also successfully partnered R&D programs and is actively seeking to out-license its remaining programs for further development.

 


'/>"/>
SOURCE AMRI
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Breg, Inc. Renews Contract to Provide Orthopedic Products to OPGA Members
2. OncoSec Medical Issues Letter to Shareholders
3. Faruqi & Faruqi, LLP is Investigating Pain Therapeutics Inc. on Behalf of its Shareholders (PTIE)
4. Amylin Pharmaceuticals, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation Of Acquisition By Bristol-Myers Squibb Company
5. Ampios CEO and CSO Send Message to Shareholders
6. Berger & Montague, P.C. Reminds Viropharma Shareholders That The Deadline To Petition The Court To Act As Lead Plaintiff Is July 23, 2012
7. Sinovac Schedules 2012 Annual Meeting of Shareholders
8. Par Pharmaceutical Companies, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation Of Acquisition By TPG
9. Johnson & Johnson Provides Notice Of Proposed Settlement Of Shareholder Derivative Actions, Final Settlement Hearing, And Right To Appear
10. Carl Icahn Issues Open Letter to Shareholders of Forest Laboratories
11. Marshall Edwards Receives $4 Million Subscription From Novogen In Rights Offering
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/2/2017)... -- Diplomat Pharmacy, Inc. (NYSE: DPLO ) ... , and named its founder as Diplomat,s chief information ... Tennessee , will operate under Diplomat subsidiary Envoy ... for health care partners to include IT outsourcing, consulting, ... "In an interoperable world, technology delivers comprehensive insight and ...
(Date:9/28/2017)... , Sept. 28, 2017 Hill-Rom Holdings, ... 2017 earnings conference call and webcast on Friday, November ... a.m. (EDT) and ending at approximately 8:30 a.m. (CDT) ... discussing the company,s 2017 financial performance and guidance for ... opportunities, initiatives to enhance operational performance, and long-range financial ...
(Date:9/25/2017)... R.I. , Sept. 25, 2017  EpiVax, ... assessment, vaccine design, and immune-engineering today announced the ... on the development of personalized therapeutic cancer vaccines. ... has provided exclusive access to enabling technologies to ... Eng., MBA will lead EpiVax Oncology as Chief ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... ... Hannah Randall, PharmD ‘17, and Jennifer Huggins, PharmD ’17, along with clinical ... the primary prevention of cardiovascular diseases during the 15th Annual Women’s Health ...
(Date:10/13/2017)... ... , ... Ellevate Network, the leading network for professional women, brought together some ... at their inaugural Summit in New York City in June. The event was livestreamed ... over 3 million. To watch the Mobilize Women video, click here . ...
(Date:10/13/2017)... ... ... “The Journey: From the Mountains to the Mission Field”: the story of a missionary ... Journey: From the Mountains to the Mission Field” is the creation of published author, ... ages and currently teaches a class of ladies at her church, which she has ...
(Date:10/12/2017)... ... October 12, 2017 , ... The company has ... today’s consumer and regulatory authorities worldwide. From Children’s to Adults 50+, every formula ... the highest standard. , These products are also: Gluten Free, Non-GMO, Vegan, ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... Restoration, has recently contributed a medical article to the newly revamped Cosmetic ... Mohebi’s article spotlights the hair transplant procedure known as Follicular Unit Extraction ...
Breaking Medicine News(10 mins):