ISS Recommends That IEI Stockholders Vote for RISCO's Voting Rights Proposal
14 5월 2007 - 10:00PM
PR Newswire (US)
BOSTON, May 14 /PRNewswire/ -- Rokonet Industries, U.S.A., Inc., a
wholly- owned subsidiary of RISCO Ltd. (RISCO), announced today
that Institutional Shareholder Services (ISS) has recommended that
International Electronics, Inc. (OTC:IEIB.OB) (BULLETIN BOARD:
IEIB.OB) stockholders vote FOR RISCO's Voting Rights Proposal at
the upcoming special meeting of IEI stockholders on May 18. ISS is
the leading U.S. corporate governance and proxy advisory firm. Its
recommendations are relied upon by hundreds of major institutional
investors, mutual funds and fiduciaries throughout the country. In
formulating its recommendation, ISS notes that control share
acquisition statutes like Massachusetts has "could harm long-term
share value by effectively entrenching management". Permission to
quote ISS's report was neither sought nor obtained. "May 18 is an
important day for IEI shareholders," said RISCO Chairman, Moshe
Alkelai. "On May 18 IEI shareholders have an opportunity to decide
whether RISCO is entitled to have voting rights for any shares it
acquires in its tender offer. RISCO's offer will allow IEI
shareholders an opportunity to receive $4.00 per share now, rather
than wait for management to continue to try to execute its
inadequate strategy. As ISS suspects, IEI management is taking
advantage Massachusetts law to entrench itself at the expense of
long- term share value." MacKenzie Partners, Inc. is the
Information Agent for RISCO's tender offer and any questions or
requests for the Offer to Purchase and related materials with
respect to the tender offer may be directed to MacKenzie Partners,
Inc. Additional Information and Where to Find It This communication
may be deemed to be solicitation material in respect of the
solicitation of proxies of Rokonet Industries, U.S.A., Inc. from
stockholders of IEI in connection with the special meeting of IEI
stockholders to be held on May 18, 2007. Rokonet Industries,
U.S.A., Inc. will file a definitive proxy statement on Schedule
14A. IEI STOCKHOLDERS SHOULD READ THOSE MATERIALS CAREFULLY BECAUSE
THEY CONTAIN IMPORTANT INFORMATION REGARDING RISCO'S PROPOSAL.
Stockholders will be able to obtain the proxy statement and related
materials with respect to the special meeting free at the SEC's
website at http://www.sec.gov/ or from Rokonet Industries, U.S.A.,
Inc. by contacting Mackenzie Partners, Inc. toll free at
1-800-322-2885 or collect at 1-212-929- 5500 or via email at . The
offer to buy IEI common stock is only being made pursuant to an
offer to purchase and related materials that Rokonet Industries,
U.S.A., Inc. has filed with the SEC. IEI STOCKHOLDERS SHOULD READ
THESE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT
INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER.
Stockholders will be able to obtain the offer to purchase and
related materials with respect to the tender offer at the SEC's
website at http://www.sec.gov/ or from Rokonet Industries, U.S.A.,
Inc. by contact Mackenzie Partners, Inc. toll free at
1-800-322-2885 or collect at 1-212-929-5500 or via email at .
Participants in Solicitation Rokonet Industries, U.S.A., Inc. and
its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the holders of IEI
common stock in respect of the proposed special meeting of
stockholders. Certain information about such persons and their
interest in the solicitation will be contained in the proxy
statement regarding the special meeting, when it becomes available.
DATASOURCE: RISCO Ltd. CONTACT: Bob Marese, +1-212-929-5045, or Lex
Flesher, +1-212-929-5397, both of MacKenzie Partners, Inc.
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