MOSAID Technologies Inc.

MOSAID Technologies Inc.

September 14, 2011 09:01 ET

MOSAID Provides Update to Items for Approval at Upcoming Annual and Special Meeting

OTTAWA, ONTARIO--(Marketwire - Sept. 14, 2011) - MOSAID Technologies Incorporated (TSX:MSD) today provided an update to items for which it intends to seek shareholder approval at the upcoming annual and special meeting scheduled for September 22, 2011.

As part of MOSAID's commitment to sound corporate governance practices and transparency, and in consultation with ISS Proxy Advisory Services, a leading proxy research firm used by many institutional investors, MOSAID will:

  • Dispense with the meeting proposal to remove the annual 0.25% aggregate participation limit placed on non-employee directors in MOSAID's Employee & Director Stock Purchase Plan; and

  • Seek shareholder ratification of an additional amendment it has made to its Employee & Director Stock Option Plan. The additional amendment makes it explicit that MOSAID will not amend the plan with respect to any of the following matters without the approval of shareholders: (i) to reduce the exercise price or cancel and reissue options or other entitlements of non-insider options; (ii) to extend the term of options beyond the original expiry of non-insider options; (iii) to permit options granted under the plan to be transferable or assignable other than for normal estate settlement purposes; or (iv) to amend the plan's amendment provision. The rules of the TSX already restrict MOSAID's ability to take such actions without shareholder approval, but MOSAID is making these changes in order to ensure that the Employee & Director Stock Option Plan is unambiguous with respect to the need for shareholder approval for such matters.

The updated items are in addition to amendments to MOSAID's Employee & Director Stock Purchase Plan and the Employee & Director Stock Option Plan as already set out in its Notice of Annual and Special Meeting of Shareholders and related Management Proxy Circular, both dated August 3, 2011. With the updated items, ISS has confirmed that it will recommend that shareholders vote for the two plans.

MOSAID encourages every shareholder to vote by promptly submitting their proxy, regardless of the number of shares owned or whether a shareholder plans to attend the meeting in person. Returning a proxy does not deprive a registered shareholder of the right to attend the meeting and vote shares in person.

If any MOSAID shareholder has any questions or requires more information with regard to the procedures for voting or completing a proxy, please contact Georgeson Shareholder Communications Canada Inc. MOSAID has retained Georgeson to solicit proxies from MOSAID shareholders. Georgeson Shareholder Communications Canada Inc. may be reached at 1-888-605-7632 or

Further details in respect of the business of the Annual and Special Meeting of shareholders are contained in MOSAID's Management Proxy Circular, which was previously mailed to shareholders and is available on SEDAR at


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 and

Contact Information

  • Michael Salter
    Senior Director,
    Investor Relations and Corporate Communications
    613-599-9539 x1205