Kenneyboy,
My take on the Shareholders Rights Plan is it has already been prepared by EV's legal counsel (lawyer's) and content will be voted on at the June 4 - AGM. If 50% of the shareholder's in attendance at the AGM vote in favour to adopt the Right's Plan minutes it will be in effect for a 3 yr term.
Erin Ventures Inc.'s board of directors has agreed to implement a shareholder protection rights plan.
The plan will be submitted for ratification by common shareholders at Erin's next annual shareholders' meeting. To remain effective, the plan must be approved by more than 50 per cent of the votes cast at that meeting by independent (non-management) shareholders. The rights plan will be operative for a three-year period, once adopted. The rights plan is also subject to the approval of the TSX Venture Exchange.
