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News Breaks | | | | November 13, 2012 | | 06:02 EDT |  | BEE | Strategic Hotels extends shareholder rights plan
Strategic Hotels & Resorts announced that it has amended its existing shareholder rights plan to extend the expiration date for an additional 12 months. The rights plan, which was originally adopted in November 2008 and was set to expire on November 30, 2012, will now expire on November 30, 2013, unless the rights issued thereunder are earlier redeemed or amended by the Board of Directors. In addition, the rights plan was amended to revise the definition of beneficial ownership to include derivative instruments. Following a careful review of the rights plan in consultation with Strategic Hotels' outside advisors, the Board of Directors approved these amendments in order to continue to protect the interests of Strategic Hotels' shareholders, in particular in light of continual equity market fluctuations and lingering economic uncertainty. The rights plan does not prevent the Board of Directors from considering or recommending any offer it considers to be in the best interests of shareholders. | |
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| May 20, 2013 | | 09:23 EDT | | BEE | Strategic Hotels announces termination of stockholder rights plan
Strategic Hotels announced that its board approved an amendment to the Company's stockholder rights plan to accelerate the expiration date from November 30 to as soon as possible, but no later than the close of business on June 14. In addition, the board amended the company's Corporate Guidance Guidelines to provide that if the company were to adopt any new stockholder rights plan in the future, it will submit the stockholder rights plan for shareholder approval within 12 months of its adoption. | |
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