Zymeworks Adopts Limited-duration Shareholder Rights Plan - Quick Facts

(RTTNews) - Zymeworks Inc. (ZYME) said its board has adopted a limited-duration shareholder rights plan in response to the non-binding proposal by All Blue Falcons FZE to acquire Zymeworks and All Blue's continued share accumulations. Under the Rights Plan, the rights will become exercisable if an entity, person or group acquires beneficial ownership of 10% or more of Zymeworks' common shares, or 20% in the case of certain passive investors.

Zymeworks noted that the Rights Plan will reduce the likelihood that any entity, person or group gains control of Zymeworks through open market accumulation without paying all shareholders an appropriate control premium.