StealthGas Approves Adoption Of Stockholder Rights Plan - Quick Facts

(RTTNews) - StealthGas Inc. (GASS), a ship-owning company serving primarily the liquefied petroleum gas sector, said its Board of Directors has approved the adoption of a stockholder rights plan and declared a dividend distribution of one right for each outstanding share of common stock.

The rights plan is intended to protect the firm and its stockholders from efforts to obtain control of StealthGas that the Board of Directors determines are not in the best interests of the company and its stockholders. It is also intended to enable stockholders to realize the long-term value of their investment in StealthGas.

The Rights Plan is not intended to interfere with any merger, tender or exchange offer or other business combination approved by the Board of Directors. The Rights Plan does not prevent the StealthGas Board from considering any offer that it considers to be in the best interest of its stockholders.

Following he Rights Plan, StealthGas is issuing one right for each current share of common stock outstanding at the close of business on January 8, 2015.

Initially, the rights will not be exercisable and will be represented by StealthGas common stock certificates or book entry notations. If the rights become exercisable, each right will entitle stockholders to buy one one-thousandth of a share of a new series of participating preferred stock at an exercise price of $15.00 per right. The distribution of the rights will not be taxable to stockholders.