Share Purchase Right

Share Purchase Right

A right attached to some shares giving the shareholder the ability to buy more shares of the same stock at a given price. It is similar to a stock option, but is distributed to existing shareholders rather than bought and sold. However, share purchase rights may be traded like any other option.
References in periodicals archive ?
Pursuant to the plan, the Board of Directors declared a dividend of one preferred share purchase right for each outstanding share of its common stock.
As part of the plan, in 2009 the Board of Directors declared a dividend of one preferred share purchase right for each outstanding share of its common stock and Class B stock.
The new plan grants to Tennant shareholders a preferred share purchase right for each outstanding common share held of record at the close of business on December 26, 2006.
Pursuant to the 2006 Rights Plan, Ligand's Board of Directors declared a dividend distribution of one Preferred Share Purchase Right (a "Right") on each outstanding share of Ligand's common stock.
Pursuant to the Rights Agreement relating to the shareholder rights plan, the Board has declared a dividend of one preferred share purchase right (a "Right") for each share of common stock outstanding at the close of business on June 27, 2005.
Under the Rights Plan, the Company will make a dividend distribution of one Preferred Share Purchase Right for each outstanding share of the Company's common stock held by stockholders of record as of the close of business on May 31, 2005.
Each Preferred Share Purchase Right will entitle shareholders to buy one one-hundredth of a share of the Company's Series A Participating Preferred Stock at an exercise price of $125.
Under the plan, ADC shareowners hold one share purchase right for each share of ADC common stock they hold.
AMEX:QSC) has declared a dividend distribution of one Preferred Share Purchase Right on each outstanding share of Questcor common stock.
Under the Amended and Restated Agreement, the Corporation declared a second dividend of one preferred share purchase right ("Second Right") for each share of common stock outstanding on January 29, 2003.
Esterline Technologies Corporation (NYSE:ESL) today announced that its Board of Directors has adopted a Shareholder Rights Plan to replace the plan expiring December 23, 2002 and declared a dividend distribution of one preferred share purchase right on each outstanding share of Esterline common stock.
Nasdaq:SOFN) has declared a dividend distribution of one Preferred Share Purchase Right on each outstanding share of SoftNet common stock pursuant to a Preferred Share Purchase Rights Plan.