Corel Corporation Announces Shareholder Rights Plan.OTTAWA--(BUSINESS WIRE)--Feb. 11, 1999-- COREL(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 :COSFF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :COS.) Corel Corporation (company) Corel Corporation - A software publisher best known for the CorelDraw application. Founded in June 1985 by Dr. Michael Cowpland, Corel Corporation was originally a systems integration company. today announced its Board of Directors has implemented a shareholder rights plan (the "Plan"). The Plan is subject to regulatory approval and shall not be effective until such approval is granted. The Plan was previously approved by regulators in July 1998, but such approval has lapsed. The Board has decided to submit the Plan to the forthcoming Annual Meeting of Shareholders, rather than to a special meeting. The Plan has been adopted in order to provide Corel's Board of Directors and shareholders with sufficient time to assess and evaluate any take-over-bid and, in the event a bid is made, to provide the Board of Directors with an appropriate period of time to explore and develop alternatives which maximize shareholder value. The Plan is also intended to ensure that all of Corel's shareholders are treated equally if a bid is made. The Plan is not intended to deter take-over bids. Once regulatory approval has been granted, the Plan will be operative until the date of Corel's next Annual and Special Shareholders' Meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. at which Corel shareholders will consider the Plan. It is anticipated that the meeting will occur on April 14, 1999. To remain effective, the Plan must be approved by more than 50 percent of the votes cast at that meeting. Corel Corporation Corel Corporation is an internationally recognized developer of award-winning graphics and business productivity applications. Development of market-leading products such as the CorelDRAW(tm) line of graphics applications and the Corel(r) WordPerfect(r) Suite of business tools is continually evolving to meet the demands of the corporate, retail and academic markets. Committed to performance, compatibility, value and open standards Specifications for hardware and software that are developed by a standards organization or a consortium involved in supporting a standard. Available to the public for developing compliant products, open standards imply "open systems;" that an existing component in a system can be replaced , Corel develops products for the Windows(r), Macintosh(r), UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (r), Linux(r) and Java(tm) platforms. Corel's common stock trades on The NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (sm) under the symbol COSFF and on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol COS. For more information visit Corel's Web site at www.corel.com. Corel, WordPerfect, CorelDRAW and the Go Further logo are trademarks or registered trademarks of Corel Corporation or Corel Corporation Limited. Linux is a registered trademark of Linus Torvalds. UNIX is a registered trademark of The Open Group. All other product and company names are trademarks or registered trademarks of their respective companies. |
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