To refresh our memories:
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POET’S POISON PILL
If an acquirer reaches or exceeds the limit of directly or indirectly controlling 20 percent of the shares without management's consent ("Flip-In Event"), a massive dilution will take place.
Shareholders – except for the hostile acquirer – will be able to buy 10 new shares per share they already own. The price for each new share is 50 percent of the market price, which is defined as the weighted average share price of the previous 20 trading days.
To be more exact, each common share has a right attached to buy those 10 new shares. If a flip-in event occurs, the rights are separated from the shares and can be exercised independently of the shares. This is very important, because if you cannot or do not want to exercise the rights yourself, you can sell them to someone else.
http://www.poet-technologies.com/wp-content/uploads/2014/06/Draft-Shareholders-Rights-Plan-2014.pdf
