MagnaChip Amends and Extends Shareholder Rights Plan
The Rights Agreement was due to expire on
The Rights Agreement is designed to ensure fair and equitable treatment of all MagnaChip shareholders in the event of an unsolicited acquisition offer. The Board has determined that the amendment and extension of the Rights Agreement is in the best interest of MagnaChip shareholders as the Board, with assistance from its Strategic Review Committee, continues to consider and evaluate strategic alternatives that may be available to the Company.
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Safe Harbor for Forward-Looking Statements
Information in this release regarding MagnaChip's forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include statements about the Board's continued evaluation of strategic alternatives. All forward-looking statements included in this release are based upon information available to MagnaChip as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include the risks and uncertainties detailed from time to time in the Company's filings with the
CONTACTS: |
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In the United States: Robert Pursel Director of Investor Relations Tel. +1-408-625-1262 |
In Korea: Chankeun Park Senior Manager, Public Relations Tel. +82-2-6903-3195 |
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