| MINNEAPOLIS, Jun 1, 2001 (BUSINESS WIRE) -- Net Perceptions, Inc.
(Nasdaq:NETP), announced today that its Board of Directors has adopted a
Stockholder Rights Plan in which rights will be distributed as a dividend at the
rate of one Right for each share of common stock, par value $0.0001 per share,
of the Company held by stockholders of record as of the close of business on
June 14, 2001. The Rights Plan is designed to deter coercive takeover tactics
and to prevent an acquiror from gaining control of the Company without offering
a fair price to all of the Company's stockholders. Unless redeemed earlier, the
Rights will expire on June 14, 2011.
Each Right, if it becomes exercisable, initially will entitle stockholders to
buy one one-thousandth of a share of Series A Junior Participating Preferred
Stock for $15.00. In general, if any person acquires shares of the Company's
common stock representing 15% or more of the total votes entitled to be cast on
matters submitted to a vote of the Company's stockholders, each Right will
become exercisable to purchase shares of the Company's common stock with a value
equal to two times the Right's exercise price. In addition, after any person
acquires the Company's common stock representing 15% or more of the total votes
entitled to be cast on matters submitted to a vote of the Company's
stockholders, if the Company is merged out of existence or sells 50% or more of
its assets or earning power, each Right will become exercisable to purchase
common shares of the acquiring corporation with a value equal to two times the
Right's exercise price.
About Net Perceptions
Net Perceptions (Nasdaq:NETP) provides intelligent demand generation solutions
to multi-channel retailers. Its Retail Revelations suite of software and
services measurably improves merchandising, marketing and advertising
effectiveness by providing actionable insight into product, promotion and
customer interactions. Founded in 1996, Net Perceptions is headquartered in
Minneapolis and has offices throughout the United States and in Europe.
Customers include market leaders such as Best Buy, Brylane, GUS (Great Universal
Stores), JC Penney, Kmart and Tesco. For more information visit
http://www.netperceptions.com or call 800-466-0711.
Net Perceptions and its logo are registered trademarks of Net Perceptions. All
other trademarks are the property of their respective owners. This news release
contains forward-looking statements that involve a number of risks and
uncertainties. Among the important factors that could cause actual results to
differ materially from those indicated by such forward-looking statements are
the company's limited operating history, delays in product development,
development of the Internet market, changes in product pricing policies,
competitive pressures, and the risk factors detailed from time to time in the
company's periodic reports and registration statements filed with the U.S.
Securities and Exchange Commission.
CONTACT: Net Perceptions, Inc., Minneapolis
Jacqueline Hanson, Corporate Communications, 952/842-5063
jhanson@netperceptions.com
or
Tom Donnelly, Chief Financial Officer, 952/842-5400
tdonnelly@netperceptions.com
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