Combination of Parthus and Ceva - Date Fixed for Court Hearing to Approve the Scheme of Arrangement
Dublin and Santa Clara, Calif. - 02 October 2002 - Parthus
Technologies plc ("Parthus") (LSE: PRH, NASDAQ: PRTH), DSP Group, Inc.
("DSPG") (NASDAQ: DSPG) and Ceva, Inc ("Ceva") jointly announce that the
Irish High Court has directed that Parthus' petition to approve the scheme
of arrangement, including the capital repayment, as described in the
circular to shareholders and optionholders dated 2 September 2002 (the
"Scheme") be heard on 21 October 2002 (the "Court Hearing") and that
notice of the Court Hearing be placed in the Wall Street Journal, the
Financial Times, the Irish Times and Iris Oifigiul (an Irish Government
official publications journal).
Pursuant to the Scheme, Parthus and Ceva will combine to form
ParthusCeva, Inc., and Parthus will distribute an aggregate capital
repayment of $60 million to its shareholders. Subject to the approval of
the Irish High Court at the Court Hearing and to satisfaction of the
remaining closing conditions, the Scheme is expected to become effective,
which means that Parthus and Ceva will be combined and trading in
ParthusCeva shares on NASDAQ and the London Stock Exchange will commence,
on 22 October 2002. It is intended by the parties that the capital
repayment to Parthus' shareholders will be made within 14 days after the
Scheme becomes effective.
About ParthusCeva, Inc.
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A PDF copy of this press release is also available
here.
Safe Harbor Statement
The directors of Parthus accept responsibility for the
information contained in this announcement relating to the Parthus group,
the directors of Parthus, their immediate families, related trusts and
persons connected with them. To the best of the knowledge and belief of
the directors of Parthus (who have taken all reasonable care to ensure
that such is the case), the information contained in this announcement for
which they accept responsibility is in accordance with the facts and does
not omit anything likely to affect the import of such information.
The directors of DSPG and the directors of Ceva accept
responsibility for the information contained in this announcement other
than that relating to the Parthus group, the directors of Parthus, their
immediate families, related trusts and persons connected with them. To the
best of the knowledge and belief of the directors of DSPG and Ceva (who
have taken all reasonable care to ensure that such is the case), the
information contained in this announcement for which they accept
responsibility is in accordance with the facts and does not omit anything
likely to affect the import of such information.
This announcement does not constitute an offer to sell or
issue, or a solicitation of any offer to purchase or subscribe for any
shares in DSPG, Ceva or Parthus nor shall it form the basis of, or be
relied upon in connection with, any contract for such purchase or
subscription. No representation or warranty, express or implied, is made
or given by DSPG, Ceva or Parthus as to the accuracy or completeness of
the information or the opinions contained in this announcement and no
liability is accepted for any such information or opinions.