	pubco pubo declares dividend right pubco corp said its board declared a dividend distribution of one common stock purchase right on each outstanding share of pubco s common stock it said each right will entitle shareholders to buy one share of common stock at an exercise price of three dlrs the rights will be exercisable only if a person or group acquires pct or more of pubco s common stock or announces a tender which would result in ownership by a person or group of pct or more of the common stock the company said pubco said it will be entitled to redeem the rights at cts per right at any time before a pct position has been acquired and afterward in certain circumstances it said the exercise price will be substantially reduced in the event of an acquisition of pct or more of common stock if pubco is acquired in a merger or other transaction each right will entitle its holder to purchase at the right s then current exercise price a number of the acquiring company s common shares having a market value at that time of twice the right s exercise price the company said the dividend distribution will be made march payable to shareholders of record on that date the rights will expire ten years later on march the company said pubco said the rights are not being distributed in response to any specific effort to change control of pubco and the board is not aware of any such effort reuter 
