Note 11 - Stock Rights

12 Months Ended

Jan. 31, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Note

11

 - Stock rights

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 was also entitled to

one

Right for each such additional share. Each Right entitled 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 did the Rights have any voting power.

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 extended the term of the Rights Agreement until

September 

15,

2019

and amended definitions to include positions in derivative instruments related to the Company's common stock as constituting beneficial ownership of such stock. The Rights expired on

September 15, 2019.