AirNet adopts shareholder rights plan

AirNet Technology Inc. (NASDAQ: ANTE), (Nasdaq: ANTE) has announced its board of directors has adopted a shareholder rights plan, the company said.

Pursuant to the plan, the Company will issue one right with respect to each outstanding ordinary share of the Company of a par value of USD 0.001 each.

The shareholder rights plan, which has a term of one year, is designed to guard against coercive or otherwise unfair takeover tactics to gain control or undue influence of the Company without offering a fair and adequate price and terms to shareholders of the Company.

AirNet, formerly known as AirMedia Group Inc., is a China-based in-flight solution provider on connectivity, entertainment and digital multimedia.