Dominion Textile Inc. holders adopted a shareholder-rights plan at the annual meeting. 

The so-called poison pill took effect Aug. 9 pending ratification by holders.
Rights attached to the company's common shares were issued that are triggered if a hostile bidder acquires more than 20% of the shares outstanding.
Once triggered, the rights allow holders to buy additional shares at 50% of the then current market price or, at the board's discretion, to receive securities or assets. 

Separately, Dominion Textile posted net income of 4.7 million Canadian dollars ($4 million), or 12 Canadian cents a share, for the fiscal-first quarter ended Sept. 30.
The company had a net loss of C$2.3 million, or 14 Canadian cents a share, a year ago.
Sales were C$348.2 million compared with C$307.2 a year earlier.