Saba Software's (SABA) Board Adopts Shareholder Rights Agreement
More News related to SABA
- Saba Concludes Annual User Conference; Keynotes Emphasize Importance of People-Driven Organizations Today, Employee Engagement, Linking to Business Results
- Saba Announces Customer Excellence Awards at People 2009
- Saba OnDemand Now Used by Over 3.6 Million Users
- Saba People Management Cloud to Be Available on Amazon Web Services Platform
- Next-Generation Collaboration Solutions Designed to Increase Productivity Through Anywhere, Anytime Access
Saba Software, Inc. (NASDAQ: SABA) today announced that its Board of Directors has adopted a Rights Agreement under which its stockholders will receive a dividend in the form of preferred stock purchase rights.
The rights will be distributed at the rate of one right for each share of common stock owned by stockholders of record as of June 15, 2009. Each right will allow the holder to purchase one one-thousandth of a share (a unit) of Series A Preferred Stock at an initial purchase price of $12.50 under circumstances described in the Rights Agreement. The purchase price, the number of units of preferred stock and the type of securities issuable upon exercise of the rights are subject to adjustment. The rights will expire at the close of business June 2, 2012 unless earlier redeemed or exchanged. Until a right is exercised, the holder thereof, as such, will have no rights as a stockholder of Saba, including the right to vote or to receive dividends.
Related Categories
Corporate NewsStocks Mentioned
-0.02Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
