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Technology Stocks : Silicon Graphics, Inc. (SGI)

SGI 88.98

+11.8%

Nov 6 3:59 PM EST

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From: Wes	11/29/2005 9:38:34 AM
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Silicon Graphics Moves Date for Annual Stockholders` Meeting November 29, 2005 08:01:36 (ET) MOUNTAIN VIEW, Calif., Nov 29, 2005 /PRNewswire-FirstCall via COMTEX/ -- Silicon Graphics (SGID, Trade), announced today it intends to postpone its annual meeting of stockholders until early 2006 in order to include an additional proposal for stockholders to approve an amendment to the Company's Restated Certificate of Incorporation which will effect a reverse stock split of the common stock of the Company. The Company is currently considering a reverse stock split at ratios in the range of 1-for-10 to 1-for-20. The Company believes that a reverse stock split will improve the trading characteristics of its common stock as well as facilitate efforts by the Company to seek additional investment or strategic alternatives with the goal of preserving and creating value for the benefit of stockholders and creditors. The Company expects to file an amended proxy statement with the Securities and Exchange Commission (SEC) in the near future and will distribute this proxy statement to its stockholders after the applicable review period has expired. The annual meeting was originally scheduled to be held on Tuesday, December 6, 2005. Investors are urged to read the Company's amended definitive proxy statement that will be filed with the SEC because it contains important information. The Company and its officers and directors may be deemed to be participants in the solicitation of proxies with respect to the annual meeting. Information regarding such individuals is included in the Company's proxy statement and annual reports on Form 10-K previously filed with the SEC. Investors may obtain a free copy of the proxy statement and other relevant documents as well as other material filed with the SEC concerning the Company and these individuals at the SEC's website at www.sec.gov. These materials and other documents may also be obtained from the Company at www.sgi.com.

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