Melexis N.V. Elects to Delist from Nasdaq Europe, Moves to Euronext Brussels
December 12, 2002 - Ieper, Belgium
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The Board of Directors of Melexis N.V. has decided during its meeting of October 10th, 2002 to seek a delisting of the shares Melexis N.V. on Nasdaq Europe for the reasons set out below.
Since its introduction on Euronext Brussels, the volume of transactions in shares of Melexis N.V. on Nasdaq Europe has decreased. As a result, the costs related to the dual listing on Nasdaq Europe and Euronext Brussels are no longer justified in light of the current economic climate.
Melexis N.V. has always applied a cost conscious policy, and cannot find a proper justification for the extra costs caused by the dual listing. Justification for these costs cannot be found in terms of shareholders value, neither in terms of operational benefits that they may bring. Furthermore, a single listing will be clearer for (potential) investors than a dual listing.
The listing of the shares of Melexis N.V. on Euronext Brussels allows shareholders to continue transactions in their shares.
Since May 2002, the shares of Melexis N.V. have been traded continuously on the First Market of Euronext Brussels. The ISIN code of the Melexis shares is BE0165385973.
Based on the abovementioned considerations, Melexis N.V. has decided to seek a delisting of its shares on Nasdaq Europe.
Information towards the shareholders:
Melexis N.V. will continue to provide its shareholders with information through following channels:
Euronext Brussels: http://www.euronext.be
Melexis: http://www.melexis.com
All communications will be in Dutch and in English.
Following delisting, Melexis N.V. will no longer be subject to the Rule Book of Nasdaq Europe, but only to Belgian laws as well as the rules of Euronext Brussels. As a consequence, the timing for financial communication will be as follows:
Semi-annual results: within three months after expiry of the first six months of the accounting year;
Annual results: within three months after the end of each accounting year;
Three-monthly report: in the first and third quarter of each accounting year, within two months after the end of the relevant quarter.
As Melexis N.V. is a member of the NextEconomy segment of Euronext Brussels, it has to comply with additional financial communication rules.
The broker of Melexis N.V. will continue to assist and advice it in its financial policy.
Shareholders are not required to take action following the transfer of their shares to Euronext Brussels, following the possibility for shares quoted on Nasdaq Europe to be sold on Euronext Brussels and vice versa. In this respect, shareholders should advise their own brokers in order to obtain information as to the costs connected with such transactions.
The delisting of shares of Melexis N.V. on Nasdaq Europe will be effective as from closing of the market on January 10th 2003.
For Further Information
Please Contact:
Karen van Griensven
CFO
+32 13 67 07 79
kvg@melexis.com
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