

wsj_0924

10/26/89


WSJ891026-0134 = 891026 891026-0134.
Dominion Textile Rights Plan 10/26/89 WALL STREET JOURNAL (J) T.DTX EARNINGS (ERN) MONTREAL



Dominion Textile Inc. holders adopted a shareholder-rights plan at the annual meeting.

The so-called poison pill took effect Aug. 9 pending ratification by holders. Rights attached to the company's common shares were issued that are triggered if a hostile bidder acquires more than 20% of the shares outstanding. Once triggered, the rights allow holders to buy additional shares at 50% of the then current market price or, at the board's discretion, to receive securities or assets.

Separately, Dominion Textile posted net income of 4.7 million Canadian dollars ($4 million), or 12 Canadian cents a share, for the fiscal-first quarter ended Sept. 30. The company had a net loss of C$2.3 million, or 14 Canadian cents a share, a year ago. Sales were C$348.2 million compared with C$307.2 a year earlier.

































