Alange says shareholder rights plan will not prevent takeover.

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Fuente: Reuters.

May 16 (Reuters) - Canada's Alange Energy Corp said its board has adopted a shareholder rights plan, but it is not intended to and will not prevent a takeover of the company.

The oil and gas exploration and production company said it is not aware of any specific takeover bid that has been made or is contemplated.

Alange, which has more than 1.2 million acres of property in Colombia, started restructuring its operations in January and has been looking to dispose of or farm out its non-core assets.

The purpose of the rights plan, effective May 13, is to encourage a potential bidder to make a permitted bid, the company said in a statement.

A permitted bid is made to holders of voting shares, other than the bidder, for all voting shares held by them.

Earlier this month, Alange posted a wider fourth-quarter loss and said an internal review found that it lacked effective operational control while determining its production.

Shares of the company, which holds a 25 percent participating interest in the Cubiro property in the Llanos Basin, rose 2 percent to 22.5 Canadian cents on Monday morning on the Toronto Venture Exchange.