Cannondale Corp – ‘8-K’ for 12/19/97 – EX-20.1

As of:  Tuesday, 12/23/97   ·   For:  12/19/97   ·   Accession #:  950123-97-10597   ·   File #:  0-24884

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         4     11K 
 2: EX-4.1      Rights Agreement                                      43    171K 
 3: EX-20.1     Press Release                                          1      7K 

EX-20.1   —   Press Release

EX-20.1
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                                           CONTACT
                                                   William A. Luca
                                                          Cannondale Corporation
                                                  (203) 749-7000

FOR IMMEDIATE RELEASE                                                           

CANNONDALE CORPORATION
ADOPTS STOCKHOLDERS' RIGHTS PLAN

BETHEL, CONNECTICUT (December 22, 1997) Cannondale Corporation (Nasdaq:BIKE)    
announced today that its Board of Directors has adopted a Stockholders' Rights  
Plan in which Rights to purchase shares of Cannondale Corporation. Common Stock 
(the "Common Stock") will be distributed as a dividend, one Right per share, to 
record owners of Common Stock as of the close of business on December 22, 1997. 
The Stockholders' Rights Plan was not adopted in response to any known offers   
for Cannondale Corporation.                                                     

Upon becoming exercisable, each Right entitles holders to purchase a  
certain amount of common stock. The Rights are not exercisable, however, until a
person or group acquires more than 20% of Common Stock or announces a tender    
offer which would result in the ownership of more than 20% of the Common        
Stock. Details of the Plan and the Rights are outlined in a letter that is      
being mailed to all Cannondale stockholders.                                    

  In the letter to Cannondale stockholders, Joseph S. Montgomery, Chairman
and CEO of the Corporation, stated that the Board of Directors had adopted the  
plan to help assure that all stockholders would be treated fairly in the event  
any party were to seek to acquire control of Cannondale. Mr. Montgomery noted   
that rights plans, which have been adopted by approximately 2,000 public        
companies, are a means of protecting stockholders from the adverse effects of   
unfair or coercive takeover tactics.                                            

Cannondale Corporation is the world's leading manufacture of          
high-performance aluminum bicycles. The Company's bicycles, wheelchairs and     
bicycle accessories, which include clothing, packs and bags, HeadShok suspension
forks and CODA components, are marked under the Cannondale brand name and       
"Handmade in USA" logo, and are sold in the U.S. and in more than 60 foreign    
countries.                                                                      

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing		Date		Other Filings
Filed on:		12/23/97		8-A12G
		12/22/97
For Period End:		12/19/97
				List all Filings