Stockholders will be asked to vote on the proposed amendment to the Company's Certificate of Incorporation to increase authorized common stock at a Special Meeting of stockholders scheduled to be held on April 20, 2006 at the corporate offices of Ansoft. At the Special Meeting, stockholders also will be asked to approve a new Stock Incentive Plan that replaces the 1995 Stock Option Plan which expired in 2005. Copies of the 2006 Stock Incentive Plan along with a description of its features will be contained in the proxy being sent to stockholders. Further information regarding the Special Meeting and the record date for stockholders entitled to vote at the Special Meeting will be contained in the proxy that will be distributed at least 20 days prior to the Special Meeting.
Nicholas Csendes, Ansoft's president and CEO, said "This April will be the tenth year since Ansoft went public at $8.50 a share. It is with great satisfaction that we at Ansoft will mark this tenth anniversary by implementing a 2-for-1 stock split. I would like to thank the employees and shareholders of Ansoft for their effort and support that contributed greatly to our success."
Ansoft is a leading developer of high-performance electronic design automation (EDA) software. Engineers use Ansoft software to design state-of-the-art electronic products, such as cellular phones, internet access devices, broadband networking components and systems, integrated circuits (ICs), printed circuit boards (PCBs), automotive electronic systems and power electronics. Ansoft markets its products worldwide through its own direct sales force and has comprehensive customer-support and training offices throughout North America, Asia and Europe.
All information in this release is as of March 7, 2006. Ansoft undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.