Cossette provides update on its shareholder rights plan
KOS (TSX)
QUEBEC CITY, Aug. 12 /PRNewswire-FirstCall/ - Cossette Inc. ("Cossette" or the "Company") has been notified by the Toronto Stock Exchange (the "TSX") that pursuant to TSX policies, consideration of acceptance of Cossette's shareholder rights plan ("Rights Plan") will be automatically deferred until such time as the TSX is informed that the Ontario Securities Commission will not intervene pursuant to National Policy 62-202 Take-Over Bids - Defensive Tactics. In accordance with its policies, the TSX defers acceptance of shareholders rights plans when a take-over bid has been made or is contemplated or it is apparent that the issuer has no intention of submitting the Rights Plan to securityholders for ratification within the prescribed six-month period (as it is a short-term Rights Plan). As a matter of corporate law, the TSX's policies do not affect the validity of the Rights Plan or the rights issued thereunder and the Company's Rights Plan remains in full effect notwithstanding the TSX policies of deferring its review. As previously announced, the Rights Plan will not prevent an offer made to all shareholders for all of their shares and is designed to prevent a creeping takeover of the Company and preserve its ability to obtain the best value for all shareholders. The Rights Plan will also provide the share ownership stability to protect the opportunity for all shareholders to participate in any future transaction involving the Company.
Cossette Inc. offers a full range of leading-edge communication services to clients of all sizes, including some of the most prestigious brands in the world. A customer-driven organization built around highly specialized business units, Cossette also offers Convergent Communications(TM), a unique working method that brings added value to the client by integrating various services offered by the Group, including strategic planning and research, advertising, media buying and channel planning, sales promotion, direct response, database and direct marketing, customer relationship management, interactive marketing and technology solutions, public relations, organizational communication and change management, sponsorship and alliance marketing, branding and design, ethnic marketing, business-to-business communications (B2B practices) and print and video production. Cossette has approximately 1,485 employees and offices in Quebec City, Montreal, Toronto, Vancouver, Halifax, New York, Irvine, Los Angeles, London and Shanghai.
