PREFERRED STOCK RIGHTS AGREEMENTPreferred Stock Rights Agreement • March 15th, 2021 • KBS Fashion Group LTD • Wholesale-apparel, piece goods & notions • Marshall Islands
Distribution Date: Subject to certain exceptions specified in the Rights Agreement, the Rights will separate from the Common Stock and become exercisable following (1) the 10th business day (or such later date as may be determined by the Board) after the public announcement that a person or group of affiliated or associated persons (such person or group, an “Acquiring Person”) has acquired beneficial ownership of 15 percent or more of the Common Stock or (2) the 10th business day (or such later date as may be determined by the Board) after a person or group announces a tender or exchange offer that would result in ownership by a person or group of 15 percent or more of the Common Stock. For purposes of the Rights Agreement, beneficial ownership is defined to include the ownership of derivative securities. Coordinated or parallel actions by persons or groups may implicate the Rights Agreement. The date on which the Rights separate from the Common Stock and become exercisable is referred
