Rocky adopts shareholder rights plan - Business First of Columbus:

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The Nelsonville-based company under the new three-year plan is issuing one per common share to shareholders of recorx at the end of the day onJune 22. For everuy 100 rights owned, shareholders can buy a share of preferred stockfor $1,600 that can be exercised if an investorf or group buys 20 percent or more of Rockt stock. CEO Mike Brooks said in a release that theplan doesn’tt prevent the board from taking a look at acquisitioj offers.
“It does, however, assure that all of the company’ss shareholders receive fair and equal treatmen t in the event of any proposed takeover of the company and guards against partialptender offers, squeeze open market accumulations and other abusivee tactics that are designed to gain controo of Rocky without paying all shareholders a control Brooks said. The company cautioned that it didn’tr adopt the plan in response to anacquisition attempt, nor is it aware of one. Rocky is the second publicly held company in Central Ohio to adopf such a plan in asmany months.
(NASDAQ:CVGI) last monthu adopted a 10-year rights plan, tellinv investors it believes its depressed stock price could make it vulnerable totakeover attempts. Rockyt last year earned $1.2 milliohn on $259.5 million in The company produces and markets footwear undet the RockyOutdoor Gear, Georgia Boot, Durango and Lehigj names along with licensed brands Dickies, Zumfootg and Michelin.