ANDRights Agreement • October 20th, 1997 • Oregon Metallurgical Corp • Rolling drawing & extruding of nonferrous metals • Oregon
Exhibit 99.1Rights Agreement • October 20th, 1997 • Oregon Metallurgical Corp • Rolling drawing & extruding of nonferrous metals
We are pleased to inform you that Oregon Metallurgical Corporation (the "Company") adopted a Rights Agreement. After careful consideration, the Board of Directors determined that adopting the Rights Agreement would preserve, for all shareholders, the long-term value of their investment in the Company. The Rights Agreement will not prevent a purchase of the Company on terms that are fair and in the best interest of the shareholders but will discourage coercive or inadequate takeover attempts. A number of U.S. companies have adopted share purchase rights plans similar to the Rights Agreement in an effort to make sure all shareholders receive a fair price and are treated equally in a takeover. The Rights Agreement was not adopted in response to any takeover attempt directed at the Company.
