Air T, Inc. (AIRT) Announces Termination of 'Poison Pill' Provision
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Air T, Inc. (Air T) (Nasdaq: AIRT) announced that a special committee of independent members of its Board of Directors voted to amend Air T's stockholder rights plan adopted in December 2014 to terminate the preferred share purchase rights under plan at 5:00 p.m. (Eastern time) on September 26, 2016. Air T has entered into such an amendment to the stockholder rights plan, and as a result preferred share purchase rights distributed to stockholders under the plan will expire at 5:00 p.m. (Eastern time) on September 26, 2016. Stockholders are not required to take any action in connection with the expiration of the preferred share purchase rights.
In connection with the expiration of the preferred share purchase rights, Air T will be taking routine actions to voluntarily deregister the preferred share purchase rights under the Securities Exchange Act of 1934, and to delist the preferred share purchase rights from the NASDAQ Stock Market. These actions are administrative in nature and will have no effect on Air T's common stock, which will continue to be listed on the NASDAQ Stock Market.
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