Catalytica Energy Systems Adopts Stockholder Rights Plan
Catalytica Energy Systems Inc. (Mountain View, CA) announced that its board of directors has adopted a stockholder rights plan. Under the plan, Catalytica Energy Systems will issue a dividend of one right for each share of its common stock held by stockholders of record as of the close of business on February 20, 2002.
The stockholder rights plan is designed to ensure that Catalytica Energy Systems' stockholders receive fair and equal treatment in the event of any proposed takeover of the company and to guard against partial tender offers and other abusive tactics to gain control of the company without paying all stockholders the fair value of their shares. Catalytica Energy Systems added that the plan was not adopted in response to any attempt to acquire the company, and that it is not aware of any such efforts.