The plan is similar to that adopted by publicly traded companies and is not intended to prevent a takeover of the company on terms that are fair to, and in the best interests of its shareholders, the company says. OTI also believes the plan will provide shareholders a “full and fair price” in the event of a takeover attempt, although no such takeover has been announced.

The plan will become exercisable only after a person or a group attempts to obtain 15% or more of the company’s ordinary shares, OTI says. However, if the purchasing firm has been approved by the board, the rights aren’t exercisable, OTI adds.