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2006 News Releases
"FOR IMMEDIATE RELEASE"
Ontario Teachers' Pension Plan Supports MOSAID Slate of Directors
OTTAWA, Ontario - September 18, 2006 - MOSAID Technologies Incorporated (TSX: MSD) today announced that the Ontario Teachers' Pension Plan will vote its shares in support of MOSAID's slate of directors at the Company's Annual and Special Meeting of Shareholders on Friday, September 22, 2006. Ontario Teachers' reports that as of December 31st, 2005, it owned 8.6% of MOSAID's 11.2 million shares outstanding.
"The Ontario Teachers' Pension Plan has been one of MOSAID's largest shareholders since first investing in the company two years ago," said Thomas Csathy, Chairman of the Board of Directors. "Clearly we are pleased that Teachers', a major institutional investor well known for its independent assessment of proxy voting issues and for promoting good corporate governance, has compared MOSAID's plan for the Company with the position put forward by the dissident shareholder, and is supporting MOSAID."
On September 15, 2006, Institutional Shareholder Services Canada, the country's leading independent proxy advisory firm, issued a report recommending that its clients vote to support MOSAID's slate of directors and reject the slate put forward by Loeb, a New York City-based hedge fund. "We believe that the decisions by Institutional Shareholder Services and the Ontario Teachers' Pension Plan are strong indications that those who judge these issues objectively are supportive of MOSAID's current board and management," said Csathy.
The Ontario Teachers' Pension Plan is an independent corporation responsible for investing $96 billion in assets and administering the pensions of Ontario's 163,000 elementary and secondary school teachers and 10,000 retired teachers.
Voting instructions for the Annual and Special Meeting of Shareholders
Please see the voting instructions on MOSAID's web site at www.mosaid.com. Shareholders can vote either the WHITE proxy or the BLUE proxy. Shareholders who have already voted the WHITE proxy form in support of the MOSAID-proposed slate, need not do anything else. MOSAID encourages shareholders who have not yet voted, to vote ONLY the BLUE proxy to elect MOSAID's slate of seven directors. Shareholders should vote their BLUE proxy by FAX. Due to the format of the dissident proxy form issued by Loeb, shareholders cannot vote electronically. If shareholders have questions about voting, please contact MOSAID's proxy solicitor, Kingsdale Shareholder Services, toll free at 1-866-289-9929.
About MOSAID
MOSAID Technologies Incorporated makes semiconductors better through the development and licensing of intellectual property and the supply of memory test and analysis systems. MOSAID counts many of the world's largest semiconductor companies among its customers. Founded in 1975, MOSAID is based in Ottawa, Ontario, with offices in Santa Clara, California, Newcastle upon Tyne, U.K, and Tokyo, Japan. For more information, visit www.mosaid.com.
Forward Looking Information
This document and certain other public documents incorporated by reference in this document
contain forward-looking statements to the extent they relate to MOSAID or its management, including those
identified by the expressions "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan",
"will", "would" and similar expressions. These forward-looking statements are not historical facts, but rather
reflect MOSAID's current expectations regarding future events. These forward-looking statements are subject to
a number of risks and uncertainties that could cause actual results, performance or achievements to differ
materially from current expectations. Assumptions made in preparing forward-looking statements and financial
guidance include, but are not limited to, the following: MOSAID's continued expansion of its patent portfolio
and of its opportunities for future patent licensing revenue as a result of MOSAID's acquisition of patents and
development of new inventions; DRAM manufacturers continuing to infringe MOSAID's patents; the timing and amount
of MOSAID's litigation expenses; and MOSAID's ability to sign new licensees.
Factors that could cause actual results to differ materially from expected results include, but
are not limited to, the following: declines or unexpected variations in market growth rates for MOSAID's products;
the extent of embedded DRAM proliferation in the System-on-a-Chip markets ;variability in customer deployment
schedules from quarter to quarter; shifts in the mix of products sold; MOSAID's ability to negotiate settlements
with licensees; unfavourable legal rulings in MOSAID's patent litigations; Foreign currency fluctuations;
non-payment by customers/licensees; failure to obtain valuable patents as a result of research and development
activities, or to acquire valuable patents; loss of key employees; change in MOSAID's financial position;
obsolescence of products or inappropriate targeting to markets that fail to materialize; inability to transition
to new technologies to meet customer demand; variations in average sales cycles; key component supply restrictions
and/or cost increases; and critical industry transitions.
MOSAID assumes no obligation to update or revise any forward-looking statements. Additional
information identifying risks and uncertainties affecting MOSAID's business and other factors that could cause
MOSAID's financial results to fluctuate are contained in MOSAID's Annual Information Form, under the section
entitled "Risk Factors", and in MOSAID's other public filings available online at
www.sedar.com.
For more information, please contact:
Media and Investor Inquiries
Michael Salter
Director, Corporate Communications
613-599-9539 x1205
salter@mosaid.com |
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