OTTAWA, July 18 /CNW/ - The Concerned Shareholders of Zarlink
Semiconductor Inc. remind their fellow shareholders that if they missed the
5:00 p.m. Eastern Time deadline today to deliver their BLUE proxy, they can
still do so by 9:00 a.m. on Monday July 21, 2008.
BLUE proxies can be faxed to 416-867-2271 or 1-866-545-5580 (toll free)
over the weekend. For information about voting the BLUE proxy, shareholders
are invited to call Kingsdale Shareholder Services at 1 866 851 2484.
What are you voting for?
- Change. The risk of allowing the Mandy Board to continue destroying
shareholder value is too high.
- Better management able to strengthen Zarlink and with a plan designed
to result in a stronger sustainable share price.
- A new Board of Directors with a commitment to generating value for
shareholders and with the experience and strategy to achieve it.
- The new Board is nominated by shareholders with more than 5.9% of
Zarlink's shares and whose interests are better aligned with yours
than the current Mandy Board which - together - owns less than 1% of
- The replacement of CEO Kirk Mandy with a new leader who can
reinvigorate Zarlink's people and execute the strategy for shareholder
Why Vote the BLUE Proxy?
Years of mismanagement and lethargy under Kirk Mandy and his current
Board, resulting in:
- An approximate 95% decline in the share price in six years and a drop
of more than 60% in the three years since Kirk Mandy was reappointed
- Failure to control costs
- Failure to deliver leading products - despite outspending peers on R&D
- The failed acquisition of Legerity Holdings in 2007 for which Zarlink
paid more that the entire Company's market capitalization. Legerity
contributed the only growth in Zarlink revenues in seven years - and
even its revenues appear to be declining since the acquisition.
- A severely weakened financial base with a net cash deficit as well as
expensive and restrictive debt
Zarlink has promised improved results every year for at least eight years
- and has never fulfilled those promises. There is no reason to believe the
The current Mandy Board has made every effort to entrench itself and its
CEO while rejecting the Concerned Shareholders' every attempt to suggest
constructive change over the past three years.
Voting for Change
- There is only a short time in which to make the needed change at
- Your vote is very important to the future of your investment in
Zarlink. If, after reading the Concerned Shareholder Proxy Circular,
you agree that the Concerned Shareholder Nominees will better serve
your interests as a shareholder of Zarlink, please vote using the BLUE
form of proxy distributed with the Concerned Shareholder Proxy
- You may vote the BLUE proxy for change even if you have previously
deposited a management proxy or other proxy. A timely delivered and
later-dated BLUE proxy automatically revokes any earlier one.
- Non-registered shareholders are advised to refer to the information
under "General Proxy Information - Non-Registered Shareholders" in the
Concerned Shareholder Proxy Circular.
It's time for a change.
For new leadership. For a new direction.
For renewed shareholder value.
For further information:
For further information: The Concerned Shareholders of Zarlink
Semiconductor Inc., Scott Leckie, (416) 363-3399; Kingsdale Shareholder