Annual Meeting Postponed to June 1, 2006; Majority Registered in Favor of Merger
May 22 2006 - 7:43PM
PR Newswire (US)
NOVATO, Calif., May 22 /PRNewswire-FirstCall/ -- IMSI(R) (OTC:IMSI)
(BULLETIN BOARD: IMSI) , today announced the previously noticed
Annual Meeting of Shareholders of International Microcomputer
Software, Inc., a California corporation ("IMSI"), has been
postponed from May 23 and will be held at the offices of
AccessMedia, 9201 Oakdale Avenue, Suite 200, Chatsworth, CA 91311,
on June 1, 2006 at 10:00 a.m. Pacific Time. "We currently have over
15.2 million votes registered in favor of the proposed merger with
AccessMedia and this exceeds the required majority. California
Corporations Code Section 601 (a) requires that each shareholder be
given not less than ten (10) days written notice for a shareholders
meeting. However, due to an administrative error by the mailing
agent, approximately 40% of our shareholders did not receive timely
notice of the Annual Meeting. As a result, our counsel advises that
we should add additional notice time and postpone the meeting,"
said Martin Wade, chief executive officer of IMSI. "While the
postponement is lamentable, I am pleased that a majority of our
shareholders have already approved the merger with AccessMedia. We
look forward to completing this transaction on June 1." DATASOURCE:
International Microcomputer Software, Inc. CONTACT: Robert
O'Callahan, Chief Financial Officer of International Microcomputer
Software, Inc., +1-415-878-4020, or Web site:
http://www.imsisoft.com/
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