Dec 14, 2012. /Lesprom Network/. Tembec Inc. announced that its Board of Directors has approved the renewal of its Shareholder Rights Plan (the "Plan"). The Plan is subject to acceptance by the Toronto Stock Exchange, and is also subject to shareholder approval and ratification which the Company will seek at its Annual and Special Shareholder Meeting, currently scheduled to be held on January 31, 2013. Subject to shareholder approval at such annual and special meeting, the Plan would be effective as of January 31, 2013. The Plan is designed to encourage the fair treatment of the Company's shareholders in the event of any take-over bid for the Company's common shares. It provides the Board with sufficient time to assess and evaluate any unsolicited take-over bid, and to explore and develop, if appropriate, alternatives that enhance shareholder value and to give shareholders adequate time to consider any such transaction. In connection with the Plan, the Board has authorized the issuance of one right in respect of each common share of the Company outstanding as of the close of business on January 31, 2013, and one right will attach automatically to each common share issued after such date. Each right entitles the holder of the right to purchase from the Company an additional common share of the Company at the exercise price, which has initially been set at CAD$100.00, subject to the terms and conditions set forth in the Plan. Tembec is a manufacturer of forest products - lumber, pulp, paper and specialty cellulose - and a global leader in sustainable forest management practices.