PARADIGM TECHNOLOGY ANNUAL MEETING OF STOCKHOLDERS HAS BEEN ADJOURNED FOR THE
SECOND TIME!
Milpitas, CA - August 10, 1998 -- Paradigm Technology Inc. (Nasdaq:PRDM)
announced that it had convened and then adjourned its Annual Stockholders
Meeting until August 25, 1998 to allow time to receive sufficient stockholder
votes on the proposals relating to the merger agreement with IXYS Corporation.
The adjourned meeting will be reconvened at 3:00 p.m. Pacific Daylight Time on
August 25, 1998 at company headquarters, 694 Tasman Drive, Milpitas, California.
Paradigm mailed proxy materials in connection with the Annual Stockholders
Meeting to all stockholders of record owning Paradigm Common Stock as of the
close of business on June 19, 1998. Shareholders who have not yet cast their
votes will receive another set of proxy forms mailed to them in case they have
misplaced the orginal set.
The vote of every single Common Stockholder who held shares on June 19, 1998 is
urgently needed to accomplish these measures. Even common shareholders who have
since sold their shares still need to vote on these measures if they held the
stock on June 19, 1998.
The holders of Paradigm Preferred Stock are entitled to vote only those shares
of Paradigm Common Stock held by such stockholder as of the close of business on
June 19, 1998.
Management urges all stockholders to cast their vote by returning their proxy or
to cast their ballot by telephone via a toll free number or by internet, if that
stockholder's voting instruction form permits casting ballots in such a manner.
Paradigm also announced that it intends to release financial results for the
second quarter by Friday August 14, 1998.
IXYS announced on August 4,1998 that its stockholders approved the merger at a
Special Meeting of Stockholders held on August 4,1998.
On July 8, 1998, Paradigm announced that the registration statement on Form S-4
filed in connection with its pending merger with IXYS Corporation was declared
effective by the Securities and Exchange Commission. The registration statement
registers the Paradigm securities to be issued in connection with the pending
merger, which represents a new financing.
On March 9, 1998, Paradigm announced it had signed a merger agreement with IXYS.
It is currently anticipated that the merger will be consummated in early August
1998.
A copy of the written Joint Proxy Statement/Prospectus meeting the requirements
of Section 10 of the Securities Act of 1933, as amended, may be obtained from
Paradigm by written request to Richard Morley, 694 Tasman Drive, Milpitas,
Calif. 95035.
With headquarters in Milpitas, Paradigm Technology designs and markets
high-speed, high-density SRAM semiconductor devices to meet the needs of
advanced telecommunications, networking, workstations, high-performance PCs,
advanced modems and complex military/aerospace applications.
Paradigm focuses on high-performance, sub-10ns SRAMs where its technology and
product-design leadership in high-speed and high-density semiconductors can best
be utilized. Paradigm can be reached on the World Wide Web at www.prdm.com.
There can be no assurances that the transaction described above will be
completed since it is subject to a number of contingencies. Paradigm undertakes
no obligation to publicly release updates or revisions of these statements.
When used herein, words such as "estimate," "project," "intend," "expect" and
similar expressions are used to identify forward-looking statements.
Except for historical information contained herein, the matters set forth in
this news release are forward-looking statements that are subject to risks and
uncertainties, including the impact of competitive products and pricing, the
timely development and market acceptance of new products and upgrades to
existing products, availability and cost of products from suppliers,
industrywide shifts in supply and demand for semiconductor products, government
actions and other risks detailed from time to time in Paradigm's SEC reports and
filings.
