Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Psion Board asks shareholders to vote for the sale to Nokia
Posted on 8-Mar-2004 21:44 | Tags Filed under: News



On 9th February 2004, Psion announced that it had agreed terms for the sale of its 31.1% stake in Symbian to Nokia for a series of payments estimated at £135.7m, including amounts which depend on the number of devices containing Symbian OS sold by licensees in 2004 and 2005.

Now the Board is writing to shareholders ahead of the company’s EGM, due to be held on 12th March. In this letter, the company reiterates the Board’s recommendation to shareholders to vote in favour of the proposed disposal of its stake in wireless OS business Symbian.

On 4th March, Psion’s largest shareholder, Phoenix Asset Management Partners Ltd. announced its intention to vote its holding of approximately 13.5 per cent against the proposed disposal. In its announcement, Phoenix claimed that significantly greater value could be created for Psion shareholders through an IPO of Symbian.

Phoenix describe this as “a less conservative route, with greater risks and uncertainty in the expectation of higher returns”.

On its turn, the Board of Psion says that it is not appropriate for the company to take such a speculative view, but, rather, that it should take a measured view of all the issues involved. The Board disagrees with the Phoenix view that the conditions for an IPO of Symbian have been met and claim that on the basis of proxy votes received so far, the majority of independent private shareholders are supporting the Board.


More information: http://www.psion.com...

comments powered by Disqus




Trending now »

Hot discussions in our forums right now:

The President Of The USA: Donald Trump
Created by TimA, last reply by Fred99 on 22-Feb-2017 22:34 (3227 replies)
Pages... 214 215 216


Mikrotik RB 3011 multiple port flapping (Title updated)
Created by RobBB, last reply by RunningMan on 22-Feb-2017 21:54 (57 replies)
Pages... 2 3 4


Price rise "must be coming"!
Created by msukiwi, last reply by dafman on 22-Feb-2017 15:51 (23 replies)
Pages... 2


Best way to network my computers
Created by Rikkitic, last reply by yitz on 23-Feb-2017 00:16 (60 replies)
Pages... 2 3 4


Android (FB) Messenger App Bugs/Issues
Created by TimA, last reply by tripp on 21-Feb-2017 19:45 (20 replies)
Pages... 2


geekzone ads are out of control
Created by 1101, last reply by DarthKermit on 23-Feb-2017 02:11 (57 replies)
Pages... 2 3 4


Shameful politics, shameless politicians
Created by Rikkitic, last reply by MikeAqua on 20-Feb-2017 14:12 (106 replies)
Pages... 6 7 8


Silly Cricket Scoring
Created by tdgeek, last reply by Jas777 on 22-Feb-2017 09:55 (46 replies)
Pages... 2 3 4