International DisplayWorks Stockholders Approve Acquisition by Flextronics.ROSEVILLE, Calif. -- International DisplayWorks, Inc. (IDW IDW Informationsdienst Wissenschaft (German: News service science) IDW Ideal Weight IDW Institut der Wirtschaftsprüfer (German: Institute of Auditors ) IDW Inverse Distance Weighting ) (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 :IDWK IDWK International Display Works IDWK I Don't Wanna Know ) announced that its stockholders approved Flextronics International Ltd.'s proposed acquisition of IDW at a special meeting of IDW stockholders held today. Pursuant to the terms of the merger agreement, assuming the transaction closes on November 30, 2006, as currently scheduled, holders of IDW common stock will receive 0.5653 Flextronics ordinary shares for each share of IDW common stock they own at the closing of the acquisition. About Flextronics International Ltd. Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading electronics manufacturing services Electronic manufacturing services (EMS) is term used for companies that design, test, manufacture, distribute and provide return/repair services for electronic component and assemblies for original equipment manufacturers (OEMs). (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer digital, industrial, infrastructure, medical and mobile OEMs. With fiscal year 2006 revenues from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of US$15.3 billion, Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in over 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing This article presents a typical manufacturing process of an electronic assembly. Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors. and logistics services, and vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. More information is available on Flextronics's website: www.flextronics.com. About International DisplayWorks, Inc. IDW is a manufacturer and designer of high quality liquid crystal displays, modules and assemblies for a variety of customer needs including OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and applications. IDW operates 466,000 square feet of manufacturing facilities in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China (PRC). Sales offices are located in United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Singapore, and China. More information is available on IDW's website: www.idwk.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements include, but are not limited to, statements related to the expected closing of the merger. These forward-looking statements are based on information available to Flextronics and IDW as of the date of this press release. Current expectations, forecasts and assumptions involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks and uncertainties include a variety of factors, some of which are beyond the control of Flextronics and IDW. In particular, such risks and uncertainties include the possibility that not all of the conditions to the closing to the merger will be satisfied by the anticipated closing date, if at all. Information concerning additional factors that could cause results to differ materially from those projected in the forward-looking statements is contained in the "Risk Factors" section of Flextronics's Registration Statement on Form S-4/A (SEC File No. 333-137749), which was filed with the Securities and Exchange Commission ("SEC") on October 25, 2006, as well as those described under "Risk Factors" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations" in the reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , 10-Q and 8-K that Flextronics and IDW file with the SEC. The forward-looking statements in this press release are based on current expectations and neither Flextronics nor IDW undertakes any obligation (other than as required by law) to update or revise these forward-looking statements to reflect subsequent events or circumstances. Additional Information and Where to Find It: On October 25, 2006, Flextronics filed a Registration Statement on Form S-4/A (SEC File No. 333-137749) (the "Registration Statement") with the SEC which contained the definitive proxy statement/prospectus relating to the merger. Investors and security holders are urged to read the Registration Statement and the definitive proxy statement/prospectus carefully, as well any related materials when they become available, because they contain, and will contain, important information about Flextronics, IDW and the proposed merger. The Registration Statement, the definitive proxy statement/prospectus, other relevant materials (when they become available), and any other documents filed with the SEC, may be obtained free of charge at the SEC's web site www.sec.gov. In addition, investors and security holders may obtain a free copy of any documents that Flextronics and IDW have filed with the SEC by directing a written request to: For information relating to Flextronics: Flextronics International Ltd. 2090 Fortune Drive San Jose, California 95131 Attention: Investor Relations For information relating to IDW: International DisplayWorks, Inc. 1613 Santa Clara Drive, Suite 100 Roseville, CA 95661-3542 Attention: Corporate Secretary |
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