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California Micro investor backs company's slate of director nominees
By Lisa Kerner
Charlotte, N.C., Sept. 15 - California Micro Devices Corp. shareholder Ainsley Capital Management LLC said it supports the re-election of all seven of the company's director nominees at the annual meeting on Thursday.
In a letter to chief executive officer Robert V. Dickinson on Tuesday, Ainsley Capital's Alan Ainsley Hicks cited California Micro's strong position in the mobile phone, flat panel HD TV and other consumer product markets. In addition, Ainsley Hicks noted that since current management came to the company in fiscal 2002, revenues have increased and the company has paid off all debt.
California Micro's director nominees are Dickinson, Jon Castor, Wade Meyercord, Ed Ross, David Sear, John Sprague and David Wittrock. According to the company, it will add two Dialectic Capital Management, LLC nominees to the board if its directors are re-elected.
As previously reported, RiskMetrics Group/ISS, Proxy Governance, Inc. and Glass, Lewis & Co. support the election of Dialectic Capital's nominees.
Dialectic, the company's second-largest stockholder, said it has nominated Dialectic managing member John Fichthorn, J. Michael Gullard and Kenneth Potashner for election.
As previously reported, RiskMetrics recommended in favor of the election of all three nominees, Proxy Governance recommended in favor of the election of Fichthorn and Gullard, and Glass Lewis supports the election of Gullard.
California Micro Devices is a Milpitas, Calif.-based maker of application-specific protection devices and display electronics devices for the mobile handset, digital consumer electronics and personal computer markets.
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