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Note 11 - Stock Rights
12 Months Ended
Jan. 31, 2019
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
Note
11
 - Stock rights
 
On
September 
15,
2009,
the Company entered into the Amendment ("Amendment") to Rights Agreement dated as of
September 
15,
1999.
Among other things, the Amendment extends the term of the Rights Agreement until
September 
15,
2019
and amends definitions to include positions in derivative instruments related to the Company's common stock as constituting beneficial ownership of such stock.
 
On
September 
15,
1999,
the Company's Board of Directors declared a dividend of
one
common stock purchase right (a "Right") for each share of PPIH's common stock outstanding at the close of business on
September 
22,
1999.
The stock issued after
September 
22,
1999
and before the redemption or expiration of the Rights is also entitled to
one
Right for each such additional share. Each Right entitles the registered holders, under certain circumstances, to purchase from the Company
one
share of PPIH's common stock at
$25,
subject to adjustment. At
no
time will the Rights have any voting power.
 
The Rights
may
not
be exercised until
10
days after a person or group acquires
15%
or more of the Company's common stock, or announces a tender offer that, if consummated, would result in
15%
or more ownership of the Company's common stock. Separate Rights certificates will
not
be issued, and the Rights will
not
be traded separately from the stock until then. Should an acquirer become the beneficial owner of
15%
or more of the Company's common stock, Rights holders other than the acquirer would have the right to buy common stock in PPIH, or in the surviving enterprise if PPIH is acquired, having a value of
two
times the exercise price then in effect. Also, the PPIH Board of Directors
may
exchange the Rights (other than those of the acquirer, which will have become void), in whole or in part, at an exchange ratio of
one
share of PPIH common stock (and/or other securities, cash or other assets having equal value) per Right subject to adjustment. The Rights described in this paragraph and the preceding paragraph shall
not
apply to an acquisition, merger or consolidation approved by the Company's Board of Directors.
 
The Rights will expire on
September 
15,
2019,
unless exchanged or redeemed prior to that date. The redemption price is
$0.01
per Right. PPIH's Board of Directors
may
redeem the Rights by a majority vote at any time prior to the
20th
day following public announcement that a person or group has acquired
15%
of PPIH common stock. Under certain circumstances, the decision to redeem requires the concurrence of a majority of the independent directors.