BEIJING, Dec. 12 /PRNewswire-Asia-FirstCall/ -- Vimicro International Corporation (Nasdaq: VIMC) ("Vimicro" or the "Company"), a leading fabless semiconductor company that designs and develops multimedia semiconductor products and solutions, today announced that the Company has adopted a shareholder rights plan. The rights plan is designed to protect the best interests of the Company and its shareholders.
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The Board of Directors authorized the execution of a rights agreement and a distribution of one right for each outstanding ordinary share of the Company at the closing of business on December 22, 2008. The rights will be deemed attached to the certificates representing outstanding ordinary shares, and no separate rights certificates will be issued. The rights will become exercisable only if a person or group obtains ownership of or announces a tender offer for 20% or more of Vimicro's voting securities (including Vimicro's American Depositary Shares representing ordinary shares). The shareholder rights plan will continue to be in effect until December 12, 2018, unless the plan is terminated by Vimicro or the rights are redeemed by Vimicro before the plan expires. The rights are not being distributed in response to any specific effort to acquire control of the Company.
About Vimicro International Corporation
Vimicro International Corporation is a worldwide leading fabless semiconductor company that designs, develops and markets proprietary embedded multimedia signal processing chips and solutions that enable multimedia applications for mobile phones over 2.5G/3G networks and PCs over broadband Internet. Vimicro's ADSs, each of which represents four ordinary shares, are currently trading on the NASDAQ global market under the ticker symbol "VIMC."
For further information about Vimicro, please contact:
Investor Contact:
Emilie Deng
Investor Relations Manager
Tel: +86-10-6894-8888 x7143
Email: denglifan@vimicro.com
Web: http://www.vimicro.com
Shelton Group
Ryan Bright
Tel: +1-972-239-5119 x159
Email: rbright@sheltongroup.com
