TEAM, INC. ADOPTS STOCKHOLDER RIGHTS PLAN DESIGNED TO PROTECT THE AVAILABILITY OF ITS NET OPERATING LOSSES
SUGAR LAND, Texas, Feb. 2, 2022 /PRNewswire/ --
Preserving long-term stockholder value by adopting a rights plan intended to protect tax assets by reducing the likelihood of an ownership change (1) Rights plan in effect immediately; will be submitted for stockholder ratification at 2022 annual meeting If ratified by stockholders, rights plan intended to remain in effect until February 2, 2025Team, Inc. ("TEAM" or the "Company") (NYSE:TISI) announced today that its Board of Directors adopted a stockholder rights plan designed to protect the availability of Team's net operating loss carryforwards ("NOLs") and other tax attributes under the Internal Revenue Code ("Section 382 Rights Plan").
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