Red Lion Hotels Announces Termination of Shareholder Rights Plan
SPOKANE, Wash., Aug. 14 // PRNewswire-FirstCall // -- Red Lion Hotels Corporation (the "Company") (NYSE: RLH) today announced the termination of the Company's Shareholder Rights Plan (the "Plan"). The Company entered into an amendment to its Plan, which accelerated the final expiration date of the Plan from February 1, 2011 to the close of business on August 14, 2009, effectively terminating the Plan as of 5:00 p.m. Pacific time today. Stockholders do not have to take any action as a result of this termination.
As a result of the termination of the Plan, the rights under the Plan will be de-registered under the Securities Act of 1934, as amended, and delisted from the New York Stock Exchange, and will not be listed or quoted on any other exchange. This action will have no effect on the Company's common stock, which is listed on the New York Stock Exchange and registered under the Securities Act of 1934, as amended.
About Red Lion Hotels Corporation:
Red Lion Hotels Corporation is a hospitality and leisure company primarily engaged in the ownership, operation and franchising of upscale and midscale hotels under its Red Lion(R) brand. As of June 30, 2009, the RLH hotel network was comprised of 46 hotels located in nine states and one Canadian province, with 8,803 rooms and 436,355 square feet of meeting space.
SOURCE Red Lion Hotels Corporation