MKS Announces Share Consolidation Plan
Waterloo, ON - July 20, 2009: MKS Inc., (MKS) (TSX: MKX) the global application lifecycle management (ALM) technology leader, today announced that it intends to proceed with the consolidation of its common shares as approved by the shareholders of MKS at the annual and special meeting of shareholders held on July 7, 2009.
Shareholders authorized MKS to consolidate its issued and outstanding common shares on the basis of one (1) post-consolidation common share for every five (5) pre-consolidation common shares at any time prior to April 30, 2010. MKS currently has 50,366,775 common shares issued and outstanding. After giving effect to the proposed consolidation, MKS would have 10,073,355 common shares issued and outstanding.
Management of MKS believes that the consolidation will result in a trading price that better reflects its maturity, profitability and dividend yield and that it is in the best interests of shareholders of MKS for the following reasons:
The consolidation is subject to acceptance by the Toronto Stock Exchange of all applicable documentation. Subject to the receipt of such acceptance, MKS is targeting the common shares to begin trading on a consolidated basis by the end of July 2009.
Further information relating to MKS’s proposed common share consolidation may be found in the management information circular of MKS dated June 1, 2009, which is available on the SEDAR database at www.SEDAR.com.
MKS Inc., the global application lifecycle management (ALM) technology leader, enables software engineering and IT organizations to seamlessly manage their worldwide software development activities. With its flagship product, MKS Integrity, MKS offers support for all software development activities through a single enterprise application, resulting in better global collaboration and higher productivity. MKS supports customers worldwide with offices across North America, Europe and Asia. For more information about MKS, visit our Web site at http://www.mks.com.
Copyright © 2009 MKS Inc. MKS and MKS Integrity are trademarks of MKS Inc. All other trademarks mentioned in this release are the property of their respective owners.
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect MKS's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause MKS's actual results to differ materially from the statements made including those factors detailed from time to time in filings made by MKS with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Although MKS believes the expectations represented by such forward looking statements are reasonable, there can be no assurance that those expectations will prove to be correct. MKS does not intend and does not assume any obligation to update these forward-looking statements.
For further information contact:
Douglas Sawatzky, Chief Financial Officer