GenVec (CNVC) Adopts New Rights Agreement
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GenVec, Inc. (Nasdaq: GNVC), has approved the replacement of its Stockholder Rights Plan through the adoption of a new Rights Agreement.
The new Stockholder Rights Plan is to become effective on September 7, 2011, which is the date that GenVec's existing Rights Agreement is set to expire. The new Rights Agreement was adopted in connection with the expiration of the existing Rights Agreement and was not adopted in response to any specific effort to acquire control of GenVec. All rights under the existing Rights Agreement will terminate upon its expiration.
The new Stockholder Rights Plan is to become effective on September 7, 2011, which is the date that GenVec's existing Rights Agreement is set to expire. The new Rights Agreement was adopted in connection with the expiration of the existing Rights Agreement and was not adopted in response to any specific effort to acquire control of GenVec. All rights under the existing Rights Agreement will terminate upon its expiration.
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