Site Network: Home |

Microvision Announces Resignation of Inside Director

REDMOND, Wash.--(BUSINESS WIRE)--April 28, 2006--Microvision, Inc. (Nasdaq:MVIS - News), a leader in light-scanning technologies, today announced that it has received a letter from the Nasdaq Stock Market determining that the company has regained compliance with Nasdaq Marketplace Rules requiring it to have a majority of independent directors. Stephen R. Willey, a director since 1995, resigned as a director on April 26, 2006. As the company's President, Marketing & Sales for Asia, Mr. Willey is not an independent director. The company was notified that as a result of the resignation of Dennis J. Reimer, an independent director, on April 10, 2006, the company had not been in compliance with Nasdaq Marketplace Rule 4350(c)(1) requiring it to have a majority of independent directors, and that it has regained compliance with that Nasdaq Marketplace Rule as a result of Mr. Willey's resignation. Mr. Willey will maintain his executive position with the company.

"We want to thank Steve for more than ten years of excellent service as a director," said Alexander Tokman, President and CEO of Microvision. "We are making good progress in evaluating additional independent director candidates."

Nasdaq's Marketplace Rule 4803(a) requires that Microvision make a public announcement of Nasdaq's letter and the Nasdaq rules on which it is based.


Post a Comment

This website does not recommend the purchase or sale of any stocks, options, bonds or any investment of any kind. This website does not provide investment advice. Disclaimer and Notices: Disclaimer: This website may contain "forward-looking" information including statements concerning the company's outlook for the future, as well as other statements of beliefs, future plans and strategies or anticipated events, and similar expressions concerning matters that are not historical facts. The forward-looking information and statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the statements. The information on this website includes forward looking statements, including statements regarding projections of future operations, product applications, development and production, future benefits of contractual arrangements, growth in demand, as well as statements containing words like believe, estimate, expect, anticipate, target, plan, will, could, would, and other similar expressions. These statements are not guarantees of future performance. Actual results could differ materially from the results implied or expressed in the forward looking statement. Additional information concerning factors that could cause actual results to differ materially from those in the forward looking statements are included in MVIS most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission under the heading 'Risk factors related to the company's business,' and our other reports filed with the Comission from time to time. Except as expressly required by Federal securities laws, MVIS Blog undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events, changes in circumstances, or other reasons. Legal Notice: Although considerable care has been taken in preparing and maintaining the information and material contained on this website, MVIS Blog makes no representation nor gives any warranty as to the currency, completeness, accuracy or correctness of any of the elements contained herein. Facts and information contained in the website are believed to be accurate at the time of posting. However, information may be superseded by subsequent disclosure, and changes may be made at any time without prior notice. MVIS Blog shall not be responsible for, or liable in respect of, any damage, direct or indirect, or of any nature whatsoever, resulting from the use of the information contained herein. While the information contained herein has been obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. MVIS Blog has not independently verified the facts, assumptions, and estimates contained on this website. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, or completeness of the information and opinions contained on this website. Consequently, MVIS Blog assumes no liability for the accompanying information, which is being provided to you solely for evaluation and general information. This website does not contain inside information, proprietary or confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements or otherwise.