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For immediate release: January 8, 2008 MDA Adopts Shareholder Rights PlanRichmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that its Board of Directors has adopted a Shareholder Rights Plan (the 'Rights Plan'). The Rights Plan, which takes effect today, has been adopted to ensure the fair treatment of shareholders in the event of any take-over offer for the company's common shares. The Rights Plan is not intended to prevent take-over bids that treat shareholders fairly. Bids that meet certain requirements intended to protect the interests of all shareholders are deemed to be 'Permitted Bids' under the Rights Plan. Permitted Bids are offers to acquire common shares of the company made by way of a take-over circular and which must, among other requirements described in the Rights Plan, remain open for at least 60 days. The company is not adopting the Rights Plan in response to, or in anticipation of, any specific take-over bid or proposal to acquire control of the company. The Rights Plan is similar to plans adopted by other Canadian companies. The full text of the Rights Plan is available on the SEDAR website at http://www.sedar.com The Rights Plan has conditionally been approved by the Toronto Stock Exchange and is subject to ratification by the company's shareholders at the next meeting of shareholders. If ratified by shareholders, the Rights Plan will expire at the termination of the company's annual meeting in 2011, unless extended upon reconfirmation by shareholders at that meeting. Subsequently, the Rights Plan must be reconfirmed by shareholders at every third annual meeting of the company thereafter.
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Related Websites: For more information, please contact: Wendy Keyzer MDA External Relations Telephone: 604-231-2743 E-mail: wendy@mdacorporation.com |