Telecommunications
June 28, 1999 14:52
JDS FITEL and Uniphase Shareholders Approve Merger Business Editors
At the Uniphase meeting, shareholders of Uniphase also voted in favour of proposals to change the company's name to JDS Uniphase Corporation, to increase the number of authorized shares of common stock from 100 million to 200 million, and to increase the number of shares of common stock available under its employee stock purchase plan from 1 million shares to 2.5 million shares.
The completion of the merger is expected to take place in early July and is conditional upon a final order from the Ontario Superior Court of Justice.
Jozef Straus, President and CEO of JDS FITEL, stated, "I am gratified by the strong show of support by our shareholders for the merger. I am also very excited that our shareholders, employees and customers share our enthusiasm for the creation of a new entity better positioned to serve a rapidly evolving market with leading edge products."
Kevin Kalkhoven, Chairman and CEO of Uniphase, added, "With the overwhelming endorsement of our stockholders, we are looking forward to completing the merger and providing our customers with a broader range of solutions. The voting results show that our stockholders support us in creating a company with a greater depth and breadth of products and technologies to support the rapidly growing fiberoptics industry."
JDS FITEL is a Canadian high technology company that manufactures and distributes a broad range of products for the growing fiberoptic communications market. The Company executes its business strategy through its advanced design capabilities, proprietary manufacturing tools and processes and, in particular, its early participation in advancing market and technology trends. JDS FITEL's common shares are listed on The Toronto Stock Exchange under the symbol JDS. More information on JDS FITEL is available at www.jdsfitel.com.
Uniphase Corporation is an optoelectronics company that designs, develops, manufactures and markets fiberoptic telecommunications components, modules and lasers. The Company's telecommunications products include semiconductor lasers, high-speed external modulators, transmitters and optical modules for fiberoptic networks in the telecommunications and cable television industries. The Company's laser division produces laser subsystems for a broad range of OEM applications, including biotechnology, industrial process control and measurement, graphics and printing, and semiconductor equipment. Uniphase is headquartered in San Jose, California. Its stock is traded on Nasdaq National Market under the symbol UNPH and its shares are included in the Nasdaq-100 Index. The Uniphase website address is www.uniphase.com.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology such as "believes," "expect," "may," "should," "would," "will," "intends," "plans," "estimates," "anticipates" and similar words. Such forward-looking statements include, but are not limited to, statements regarding the expectations, intentions or strategies of Uniphase or JDS FITEL, possible benefits to Uniphase or JDS FITEL as a result of the pending combination of Uniphase and JDS FITEL described above and the likelihood that such transaction will be successfully completed. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, include, but are not limited to the speed of integration of the two businesses, transaction risks such as unanticipated regulatory or other problems in completing the JDS FITEL merger, and other factors discussed from time to time in reports filed by Uniphase with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof and Uniphase assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements.
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