ATI and OSC Reach Settlement.MARKHAM, Ontario -- Toronto - A panel of the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. (OSC O.S.C. n. short for Order to Show Cause. (See: Order to Show Cause) ) has approved a settlement agreement between Staff of the Commission and ATI Technologies Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :ATY)(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATYT ATYT ATI Technologies, Inc (stock symbol) ) relating to allegations that in 2000 the company did not make timely disclosure of a shortfall in earnings and made a misleading statement to staff of the OSC in the context of an investigation by Staff. Terms of the settlement include an agreement for ATI to pay CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $900,000 in costs and settlement payments. ATI also agreed to provide a letter of comfort confirming its practices and procedures related to trading and corporate governance. Today the company said in a statement: "Settlement with the OSC is in the best interests of the company, our employees and our shareholders. We are pleased to put the matter behind us and to continue to focus on company operations. We continue to place trust and confidence in K.Y. Ho, the Chairman of the company and one of its founders, who is respected in the industry and the company for his personal integrity and as a pioneer of the PC graphics industry. Good corporate governance is important to the company. The latest evaluation by the Globe and Mail's Report on Business Survey of Companies on corporate governance placed ATI in the top half of Canadian companies. The company has also won awards from IR Magazine, including the Grand Prix for the best overall investor relations in 2004 as voted on by the investment community." Full details of the settlement are available on the OSC website: www.osc.gov.on.ca. About ATI Technologies ATI Technologies Inc. is the world leader in the design and manufacture of innovative 3D graphics and digital media silicon solutions. An industry pioneer since 1985, ATI is the world's foremost graphics processing unit See GPU. (GPU) provider and is dedicated to delivering leading-edge performance solutions for the full range of PC and Mac desktop and notebook platforms, workstation, set-top and digital television, game console and handheld device markets. With 2004 revenues of US $2 billion, ATI has more than 2,700 employees in the Americas, Europe and Asia. ATI common shares trade on NASDAQ (ATYT) and the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (ATY). Copyright 2005 ATI Technologies Inc. All rights reserved. ATI and ATI product and product feature names are trademarks and/or registered trademarks of ATI Technologies Inc. All other company and product names are trademarks and/or registered trademarks of their respective owners. Features, pricing, availability and specifications are subject to change without notice. For media or industry analyst support, visit our Web site at http://www.ati.com ATI Technologies Inc. (TSX:ATY) (NASDAQ:ATYT) |
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