Science & Technology
Tue, October 18, 2011Mon, October 17, 2011Sun, October 16, 2011Fri, October 14, 2011Thu, October 13, 2011Wed, October 12, 2011Tue, October 11, 2011Mon, October 10, 2011OSC Denies Wi-LAN Request, Permits MOSAID's Rights Plan to Remain in Effect Until November 1, 2011
Published in Science and Technology on Thursday, October 13th 2011 at 4:08 GMT by Market Wire
October 13, 2011 07:00 ET
OSC Denies Wi-LAN Request, Permits MOSAID's Rights Plan to Remain in Effect Until November 1, 2011
OTTAWA, ONTARIO--(Marketwire - Oct. 13, 2011) -MOSAID Technologies Inc. (TSX:MSD) today announced that the Ontario Securities Commission (OSC) has issued an order that will permit MOSAID's Shareholder Rights Plan to remain in effect until November 1, 2011.
The OSC's decision followed a hearing yesterday to consider the request of Wi-LAN Inc. to cease trade MOSAID's Shareholder Rights Plan on October 14, 2011. The OSC denied Wi-LAN's request. As a result of the OSC's order, Wi-LAN will not be able to take up any shares of MOSAID under Wi-LAN's bid, unless that bid is extended until November 1, 2011.
The OSC's order may be found at the OSC's website at [ www.osc.gov.on.ca ]. As previously disclosed, MOSAID's full submissions for the hearing may be found on MOSAID's website at [ http://www.mosaid.com/corporate/investor-relations/wilanbid.php ].
MOSAID continues to advise its shareholders not to tender to Wi-LAN's inadequate offer, and to withdraw any shares that have already been tendered. By tendering to Wi-LAN's inadequate bid, shareholders may foreclose an opportunity to benefit from a possible value-enhancing alternative.
MOSAID encourages shareholders to read the Directors' Circular dated September 6, 2011 for further details as to why the Board unanimously recommends that shareholders reject Wi-LAN's bid.
Enquiries concerning Wi-LAN's take-over bid, including how to withdraw any shares that you have already tendered to the bid, may be directed to MOSAID's information agent, Georgeson Shareholder Communications Canada Inc., at 1-888-605-7632 or [ askus@georgeson.com ].
About MOSAID
MOSAID Technologies Inc. is one of the world's leading intellectual property companies. MOSAID licenses patented intellectual property in the areas of semiconductors and communications, and develops semiconductor memory technology. MOSAID counts many of the world's largest technology companies among its licensees. Founded in 1975, MOSAID has offices in Ottawa, Ontario, Plano, Texas and Luxembourg. For more information, please visit [ www.mosaid.com ] and [ http://investorchannel.mosaid.com ].
