San Jose--June 17, 1997--Joseph B. Costello, 43, president and CEO of Cadence Design Systems Inc. (San Jose), has achieved the top performance ranking in Chief Executive Magazine's recently released 1997 CE100 listing of the most effective CEOs in the country. Costello garnered the number one spot in the CE100's CEO Performance Index, which evaluates company CEOs over a three-year span using a number of different metrics, including growth in earnings per share, market capitalization improvement, and return on equity.
Costello was cited for his role in driving a "dramatic shift in the company's business model," which has made Cadence a more complete provider of services and technology to its customers while creating a new business paradigm for the electronics industry.
Cadence's stock price growth over the three-year period evaluated in the most recent ranking (December 31, 1993 through December 31, 1996) was 663.71 percent, the 19th best of the more than 6,500 publicly traded companies surveyed. The CE Performance Index adjusts for size differentials among companies to better measure the CEO relative to the scale of opportunity to grow or perform, which placed Costello number one among his peers at a wide range of companies such as Intel, Microsoft, Nike, HBO, and America On-Line.
Danvers, Mass.--July 24, 1997--Ibis Technology Corp. (Danvers, Mass.) announced that it has provided notice that it will redeem in whole the company's publicly traded Common Stock Purchase Warrants on August 26, 1997 (the "Redemption Date"), at the redemption price of $0.20 per Warrant. If a registered Warrantholder desires to exercise warrants, such holder must do so by surrendering the duly completed and executed certificate evidencing the Warrants accompanied by the exercise price therefore. The exercise of Warrants is subject to state securities law restrictions. All Warrants are required to be surrendered to Continental Stock Transfer & Trust Company ("the Warrant Agent") for receipt no later than 5:00 p.m.est on August 25, 1997, the business day prior to the Redemption Date. Warrantholders may contact the Warrant Agent, Continental Stock Transfer & Trust Co. (212/509-4000), for additional information concerning the exercise and redemption of Warrants.
Any Warrants not exercised by August 25, 1997 will be entitled only to the redemption price of such Warrants, and the holder thereof shall have forfeited the right to so exercise. Each Warrant currently entitles the holder thereof to acquire 1.044 shares of the company's Common Stock, par value $.008 per share, at a price of $8.05 per share. A copy of the company's prospectus relating to the Common Stock and Warrants can be obtained from the Warrant Agent.
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