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News Breaks | | | | February 6, 2013 | | 10:29 EDT |  | QBAK | Qualstar adopts shareholder rights plan
Qualstar announced that its Board of Directors has approved the adoption of a shareholder rights plan and declared a dividend distribution of one right for each outstanding share of common stock. The Rights Plan is intended to protect Qualstar and its shareholders from efforts to obtain control of Qualstar that the Board of Directors determines are not in the best interests of Qualstar and its shareholders, and to enable all shareholders to realize the long-term value of their investment in Qualstar. The Rights Plan is not intended to interfere with any merger, tender or exchange offer or other business combination approved by the Board of Directors. Nor does the Rights Plan prevent the Qualstar Board from considering any offer that it considers to be in the best interest of its shareholders. The Rights Plan adopted by Qualstar is similar to rights plans adopted by many other publicly-traded companies. The Rights will be exercisable if a person or group acquires 10% or more of Qualstar's common stock in a transaction, including the open market purchase of shares, not approved by Qualstar's Board of Directors. If a person or group acquires 10%, each Right will entitle its holder to purchase, at the Right's exercise price, a number of shares of Qualstar's common stock having a then-current market value of twice the exercise price. The Rights will expire on January 31, 2014, unless the Rights have previously been redeemed by the Board of Directors. | |
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News For QBAK From The Last 14 Days Check below for free stories on QBAK the last two weeks. |
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| May 14, 2013 | | 16:05 EDT |  | QBAK | Qualstar reports Q3 adjusted EPS (11c), consensus (9c)
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