Should be read
Corel has, pursuant to the agreement signed with Microsoft,
filed a FORM S-3 with the SEC which puts in motion plans to register the common shares
underlying the convertible preferred Corel shares owned by Microsoft.
Recent filings of amendments to the original filing are routine steps of an ongoing process that is
expected to culminate with the registration statement receiving clearance from the SEC.
Having the underlying shares registered provides Microsoft with maximum flexibility to sell the
shares, however, they
are not obligated to sell.
While Corel is handling the registration of these
shares, we are unable to comment on what Microsoft intends to do with its shares.
For that information, I must ask you to address your questions to
Microsoft for comment.
Regardless of what Microsoft chooses to do with their Corel shares, we have a strategic alliance
with them to develop applications for their .NET platform.
As part of the deal, they invested $135 million in Corel.
This most recent agreement expands our longstanding relationship
with Microsoft, and there is absolutely no reason to believe that the companies will not maintain a
good business relationship.
Regards,
John Hladkowicz
Director, Investor Relations
Corel Corporation
Voice: 613-728-0826 Ext. 1194
Email: johnh@corel.com
cell: 613-299-4166 |
