Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) announced its board has adopted a Shareholder Rights Plan, with Odyssey Trust as Rights Agent.
The plan, consistent with modern Canadian practices, is designed to give the board and shareholders time to evaluate unsolicited takeover bids and ensure fair treatment.
Shareholder ratification is expected at the February 19, 2026, Annual General Meeting, with the plan set to last three years.