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Microcap & Penny Stocks : OPTI
OPTI 0.000200-77.8%Feb 6 9:30 AM EST
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From: leigh aulper1/4/2002 6:57:01 AM
   of 482
 
OPTi Announces Postponement of Liquidation Plan
Company Plans to Proceed with Cash Distribution in First Quarter 2002
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Jan. 3, 2002--OPTi Inc. (Nasdaq:OPTI - news) today announced a postponement of its plan of voluntary liquidation and dissolution. The Company will however proceed with a distribution to its shareholders of cash and shares of stock that the Company holds in Tripath Technology, Inc. (Nasdaq:TRPH - news). In addition, the Company will also postpone its annual meeting of shareholders until the second quarter of 2002.

OPTi's Board determined that it would be prudent to postpone the liquidation plan to allow the Company more time to evaluate its intellectual property position, including the means by which it would pursue claims for the infringement of certain of its patents. The Board decision was not due to any change in the Company's business prospects.

The Board did however determine that OPTi would conduct a distribution of cash and Tripath stock as soon as practicable. The Company expects that the distribution will take place in the first quarter of 2002. The Company will announce details regarding the timing and the size of the distribution when the Board sets the distribution record date and amount. At that time, or shortly thereafter, the Company will also announce the scheduling of its forthcoming annual meeting
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