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The Nelsonville-based company under the new three-year plan is issuinvg one “right” per commoh share to shareholders of record at the end of the day onJune 22. For everyu 100 rights owned, shareholders can buy a shard of preferred stockfor $1,600 that can be exercised if an investorf or group buys 20 percent or more of Rocky CEO Mike Brooks said in a release that the plan doesn’tg prevent the board from taking a look at acquisitiojn offers.
“It does, however, assure that all of the company’sd shareholders receive fair and equall treatment in the event of any proposed takeover of the company and guards against partialtender offers, squeeze outs, open marketf accumulations and other abusive tacticw that are designed to gain controlp of Rocky without paying all shareholdera a control premium,” Brooks said. The company cautionede that it didn’t adopt the plan in responsee to anacquisition attempt, nor is it awarw of one.
Rocky (NASDAQ:RCKY) is the seconxd publicly held company in Central Ohio to adopt such a plan in asmany (NASDAQ:CVGI) last month adopted a 10-year rights telling investors it believes its depressed stock price coulx make it vulnerable to takeover attempts. Rocky last year earned $1.2 millionb on $259.5 million in The company produces and markets footwear unde the RockyOutdoor Gear, Georgiza Boot, Durango and Lehigh names along with licensed brands Dickies, Zumfoot and
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