Imation Adopts Shareholder Rights Plan

Imation Corp.

today announced that its Board of Directors has adopted a shareholder rights plan designed to preserve the value of its significant net operating loss carryforwards and other related tax assets under Section 382 of the Internal Revenue Code. Imation intends to seek shareholder approval of the Rights Plan at its 2016 Annual Meeting of Shareholders. The Company's ability to utilize these tax assets would be substantially limited upon an "ownership change" as defined in Section 382 of the Code. In general, an "ownership change" would occur if the Company's "5% shareholders" (as defined in Section 382 of the Code) increase their ownership in Imation common stock by more than 50 percentage