Eltron International Board Adopts Stock-Rights Plan

The board of directors for Eltron International in Simi Valley has adopted a shareholder-rights plan in which preferred stock purchase rights will be distributed as a dividend in the event of a takeover attempt.

Donald Skinner, Eltron chairman and chief executive officer, said the move was “designed to ensure that all of Eltron’s shareholders receive fair and equal treatment in the event of any proposed takeover of the company.”

Skinner said Eltron is not aware of any current intent to acquire a sufficient number of shares of the company’s stock to trigger distribution of the rights. The rights will be exercisable only in the event that a person or group acquires or announces the intent to acquire 15% or more of Eltron’s common stock.

Eltron manufactures thermal label and plastic card printers.