Micrel Postpones 2015 Annual Shareholders Meeting
SAN JOSE, Calif., April 13, 2015 /PRNewswire/ -- Micrel, Incorporated (Nasdaq: MCRL) (the "Company"), a leading global manufacturer of IC solutions for the worldwide high performance linear and power, LAN and timing and communications markets, today announced that its Board of Directors has approved the postponement of the Company's 2015 Annual Meeting of Shareholders (the "Annual Meeting"), from June 19, 2015 to August 4, 2015.
The postponement will allow the Board and the Company's management to further evaluate the Company's strategic alternatives. On January 20, 2015, the Company announced that its Board of Directors decided to undertake a comprehensive review of strategic alternatives to enhance value for shareholders.
Because of the postponement of the Annual Meeting, the Company has reopened the period for the furnishing of shareholder proposals to be included in the proxy statement under applicable SEC rules, and such period will now expire on April 27, 2015. The deadline for nominations or other proposals under the Company's bylaws is now June 17, 2015.
The Company's shareholders of record on June 15, 2015 will be entitled to notice and to vote at the Annual Meeting.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This press release includes statements that qualify as forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements about the following topics: future opportunities that are available to the Company, existence of any viable strategic alternatives and whether any future decisions by the Company will enhance shareholder value. Forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially. Those risks and uncertainties include, but are not limited to, such factors as: availability of strategic alternatives, economic or financial difficulties experienced by our customers; the effect of business conditions in the computing, wireless, telecommunications and industrial markets; the impact of any previous or future acquisitions; challenges involving integration of acquired businesses and utilization of acquired technology, market adoption, revenue growth and margins of acquired products; changes in demand for the Company's products; the impact of competitive products and pricing and alternative technological advances; the accuracy of estimates used to prepare the Company's financial statements and forecasts; the global economic situation; the ability of the Company's vendors and subcontractors to supply or manufacture the Company's products in a timely manner; the timely and successful development and market acceptance of new products and upgrades to existing products; softness in the economy and the U.S. stock markets as a whole; fluctuations in the market price of Micrel's common stock and other market conditions; the difficulty of predicting our future cash needs; the nature of other investment opportunities available to the Company from time to time; Micrel's operating cash flow, and economic and industry projections. For further discussion of these risks and uncertainties, please refer to the documents the Company files with the SEC from time to time, including the Company's Annual Report on Form 10-K for the year ended December 31, 2014, and including the risks and uncertainties of whether any strategic alternative will be identified by the Company's transaction committee, whether it will be pursued, whether it will receive Board of Directors and shareholder approval if necessary, whether it will be consummated and, if consummated, whether it will enhance value for all shareholders of the Company. All forward-looking statements are made as of today, and the Company disclaims any duty to update such statements.
About Micrel, Inc.
Micrel, Inc. is a leading global manufacturer of IC solutions for the worldwide analog, Ethernet and high-bandwidth markets. The Company's products include advanced mixed-signal, analog and power semiconductors; high-performance communication, clock management, MEMS-based clock oscillators and crystal-less clock generators, Ethernet switch and physical layer transceiver ICs. Company customers include leading manufacturers of enterprise, consumer, industrial, mobile, telecommunications, automotive, and computer products. Corporation headquarters and state-of-the-art wafer fabrication facilities are located in San Jose, CA, with regional sales and support offices and advanced technology design centers situated throughout the Americas, Europe and Asia. In addition, the Company maintains an extensive network of distributors and reps worldwide. Web: http://www.micrel.com.
SOURCE Micrel, Inc.
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