Cameron Terminates Rights Plan
August 19 2009 - 6:49PM
PR Newswire (US)
HOUSTON, Aug. 19 /PRNewswire-FirstCall/ -- Cameron's (NYSE:CAM)
board of directors has approved amending its stockholders' Rights
Agreement to accelerate the expiration of the Rights to August 31,
2009. The Rights had been slated to expire on October 31, 2017.
This action effectively terminates the Company's Stockholder Rights
Plan. Cameron President and Chief Executive Officer Jack B. Moore
said, "Our board took this action in response to the results of our
last two director elections. Many of our institutional stockholders
chose to withhold votes from certain directors based on our
continued maintenance of a rights plan. Given our stockholders'
position on this matter, our board decided to terminate the plan."
Cameron (NYSE:CAM) is a leading provider of flow equipment
products, systems and services to worldwide oil, gas and process
industries. Website: http://www.c-a-m.com/ DATASOURCE: Cameron
CONTACT: R. Scott Amann, Vice President, Investor Relations of
Cameron, +1-713-513-3344 Web Site: http://www.c-a-m.com/
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