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Monday, October 29, 2007

USA : Nautilus adopts shareholder rights plan

Global fitness company Nautilu Inc announced its Board of Directors has adopted a limited duration Shareholder Rights Plan.

Under the Shareholder Rights Plan one right will be distributed for each share of Nautilus common stock outstanding as of the close of business on November 8, 2007.

Effective, if any person or group acquires 20 percent or more of the voting power of the Company's outstanding common stock without the approval of the Board of Directors, there would be a triggering event causing significant dilution in the voting power of such person or group.

However, existing shareholders who currently own more than 20 percent of the voting power will trigger a dilutive event only if they acquire additional shares. The Plan may be terminated by the Board at any time.

"A shareholder rights plan protects the interests of all shareholders from takeover or control tactics that do not offer all shareholders a fair premium," said Bob Falcone, Chairman and CEO of Nautilus Inc.

"The Plan is not intended to prevent an offer that the Board concludes is in the best interest of Nautilus and its shareholders."

The Plan will continue in effect until October 28, 2010, unless earlier terminated or redeemed by Nautilus Inc. The Board of Directors has also resolved to submit the continuation of the Plan to a shareholder vote within the next 12 months.

A complete copy of the Plan will be included in a Form 8-K to be filedby Nautilus with the Securities and Exchange Commission; this filing will contain additional information regarding the terms and conditions of the Rights Plan.

In addition, shareholders of record of Nautilus as of November 8, 2007, will be mailed a detailed summary of the Plan.
Nautilus Inc


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