ESS Technology Announces Approval of Reincorporation to Delaware
28 6월 2008 - 7:47AM
PR Newswire (US)
FREMONT, Calif., June 27 /PRNewswire-FirstCall/ -- ESS Technology,
Inc. (NASDAQ:ESST) today announced that its shareholders approved
the proposed reincorporation of ESS Technology from California into
Delaware at the annual meeting of the ESS Technology shareholders.
While ESS Technology's shareholders have approved the
reincorporation merger, the closing of the reincorporation merger
and the subsequent acquisition of ESS Technology by a wholly-owned
subsidiary of Imperium Master Fund, Ltd., a fund managed by
Imperium Partners Group, LLC, remain subject to receipt of a
sufficient number of advance proxies from ESS Technology's
shareholders approving the acquisition by Imperium. ESS Technology
is continuing to calculate the number of advance proxies received
and, if a sufficient number of advance proxies have been received,
anticipates closing both the reincorporation merger and the
acquisition on or about June 30, 2008. About ESS Technology ESS
Technology, Inc. designs and markets high-performance digital video
and audio processors for the consumer market. ESS Technology,
headquartered in Fremont, California, has R&D, sales, and
technical support offices worldwide. ESS Technology's common stock
is traded on the Nasdaq Global Market under the symbol "ESST". ESS
Technology's web site address is: http://www.esstech.com/. About
Imperium Imperium Partners Group, LLC is an institutional asset
management firm. Imperium makes structured investments in public
and private growth companies with a focus on the technology and
biotech sectors. Imperium is headquartered in New York City. For
more information on Imperium, please contact Becky Norquist,
Partner, at . This communication does not constitute an offer to
sell or the solicitation of an offer to buy or exchange any
securities or a solicitation of any vote or approval. INVESTORS AND
SECURITY HOLDERS OF ESS TECHNOLOGY ARE URGED TO READ THE JOINT
PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS INCLUDED WITH THE
REGISTRATION STATEMENT FILED WITH THE SEC CAREFULLY IN THEIR
ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTION. Investors and security holders may obtain
free copies of the Registration Statement, including the joint
proxy statement/prospectus, and other documents filed with the SEC
by ESS Technology or Echo Technology (Delaware), Inc. through the
Web site maintained by the SEC at http://www.sec.gov/. Free copies
of the Registration Statement, including the joint proxy
statement/prospectus, and other documents filed with the SEC can
also be obtained by directing a request to ESS Technology. ESS
Technology and its directors and executive officers and other
persons may be deemed to be participants in the solicitation of
proxies in respect of the proposed transaction. Information
regarding ESS Technology's directors and executive officers for the
year ended December 31, 2007 is available in the Registration
Statement. The matters discussed in this news release include
certain forward-looking statements that involve risks and
uncertainties, including, but not limited to, the uncertainty
associated with the conditions to the closing of our merger
transaction with Imperium, and the other risks detailed from time
to time in the SEC reports of ESS Technology, including the reports
on Form 10-K, Form 10-Q and Form 8-K (if any) which we incorporate
by reference. Examples of forward-looking statements include
statements regarding the closing of our reincorporation merger and
merger transaction with Imperium. These forward-looking statements
are based on management's estimates, projections and assumptions as
of the date hereof and include the assumptions that underlie such
statements. Forward-looking statements may contain words such as
"will", "expect", "anticipate", "believe", "continue", "plan",
"should", other comparable terminology or the negative of these
terms. Actual results could differ materially from those projected
in the forward-looking statements. We undertake no obligation to
publicly update any forward-looking statement, whether as a result
of new information, future events, or otherwise. DATASOURCE: ESS
Technology, Inc. CONTACT: Investor Relations, ESS Technology, Inc.,
+1-510-492-1161; or Rebecca Mack of Bergman Mack & Associates,
+1-949-981-4496, , for ESS Technology, Inc. Web site:
http://www.esstech.com/
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