Loeb Partners Requests Confirmation of MOSAID Shareholders Voting Rights.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Loeb Partners Corporation, which currently holds 9.1% of the outstanding shares of MOSAID Technologies Incorporated, today requested that the board of directors of MOSAID confirm that investors who purchased shares of MOSAID after August 1, 2006, the record date for the upcoming annual and special meeting of the shareholders of MOSAID, are entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to vote at the meeting. The management information circular Information Circular A document sent to shareholders outlining important matters to be discussed at the annual shareholders' meeting. Notes: Sent along with a proxy, the information circular may cover matters such as the election of the Board of Directors, possible of MOSAID, prepared for the 2006 meeting, states that: "If a person has acquired Common Shares after the Record Date, that person is entitled to vote those Common Shares at the Meeting upon producing properly endorsed share certificates, or otherwise establishing share ownership, and demanding the inclusion of his or her name on the list of shareholders before the Meeting." A similar statement appeared in the circular prepared for the 2005 annual meeting. Loeb Partners' analysis has found that this statement may not be consistent with the corporate legislation that governs MOSAID. Nevertheless, Loeb Partners will not object to the MOSAID approach, provided MOSAID intends to conduct the meeting in a manner consistent with the disclosure in its management information circular, including permitting shareholders who purchased shares of MOSAID after August 1, 2006 to vote at the meeting. A large number of shares of MOSAID have traded hands recently and Loeb Partners presumes investors have purchased shares in reliance on the statements by MOSAID in its circulars. If MOSAID does not intend to adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. the guidance that it has provided to shareholders, the record date for the shareholders meeting must be moved to a date after today's date, and adequate notice of the new record date must be provided to all shareholders in order to ensure that the reasonable and legitimate expectations of the shareholders of MOSAID are not frustrated frus·trate tr.v. frus·trat·ed, frus·trat·ing, frus·trates 1. a. To prevent from accomplishing a purpose or fulfilling a desire; thwart: as a result of the disclosure in MOSAID's circular. Loeb Partners Loeb Partners Corporation is a New York-based investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and and registered broker-dealer Broker-Dealer A person or firm in the business of buying and selling securities operating as both a broker and dealer depending on the transaction. Notes: Technically, a broker is only an agent who executes orders on behalf of clients, whereas a dealer acts as a principal . Together with its affiliates, Loeb Partners owns approximately 9.1% of the common shares of MOSAID Technologies Incorporated. |
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