Brillian Corp. (Nasdaq: BRLC), a designer and
developer of rear-projection, high-definition televisions based on its
proprietary liquid crystal on silicon (LCoS(TM)) microdisplays, today
announced that its stockholders voted in favor of its proposed merger
transaction with privately held Syntax Groups Corp. at its
special meeting of stockholders held earlier today. The company has
also been informed that the shareholders of Syntax Groups Corp.
voted in favor of the transaction. The company anticipates that the
merger will be completed on Nov. 30, 2005, subject to satisfaction
or waiver of the closing conditions set forth in the merger agreement
between the company and Syntax.
At today's meeting, Brillian's stockholders also approved proposals to enable Brillian to effect a reverse stock split if necessary to maintain its listing on the Nasdaq National Market, to authorize a corporate name change from Brillian Corp. to Syntax-Brillian Corp. and to ratify two financing transactions.
About Brillian Corp.
Brillian Corp. designs and develops rear-projection HDTVs targeted at retailers and end user customers looking for breakthrough performance and image quality that sets a benchmark in HDTV price/performance. The company is the first and only provider of LCoS(TM) Gen II technology used in these products. In addition to its high-definition televisions, Brillian also offers a broad line of LCoS(TM) microdisplay products and subsystems that original equipment manufacturers (OEMs) integrate into proprietary HDTV products, multimedia projectors, and near-to-eye products such as monocular and binocular headsets. Brillian's LCoS(TM) Gen I and LCoS(TM) Gen II microdisplay technologies address the market demand for a high-performance display solution with high image fidelity, high-resolution scalability, and high contrast ratios. The company's Web site is www.brilliancorp.com.
About Syntax Groups Corp.
Founded in May 2003, Syntax Groups Corp. (www.syntaxgroups.com) manufactures the high-value, affordable Olevia family of widescreen HDTV-ready LCD TVs. Since the company commenced its initial shipments of Olevia LCD TVs in April 2004, Syntax has achieved unparalleled growth and is now recognized as one of the fastest growing LCD TV brands in North America with ranking in the "Top 5" North American LCD TV brands and in the "Top 10" worldwide. Delivering on its mission to design and mass-produce digital convergence consumer electronics products with superior specifications and competitively affordable prices, and support consumers of its Olevia brand with a unique, customer-friendly after-sale warranty program, Syntax has rapidly established broad distribution in the North American retail sales channel and has expanded operations in Asia. Syntax maintains its own final assembly and quality control production facility at Syntax headquarters located at 20480 E. Business Parkway, City of Industry, Calif., 91789.
Brillian is a registered trademark and LCoS is a trademark of Brillian Corp. All other trademarks are the property of their respective owners.
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and Brillian intends that such forward-looking statements be subject to the safe-harbor created thereby. Such forward-looking statements include expectations regarding the anticipated timing of the closing of the merger. Brillian cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include (a) the anticipated closing date of the proposed merger with Syntax; and (b) other risks as detailed in Brillian's Annual Report on Form 10-K and in the Registration Statement on Form S-4 filed in conjunction with the proposed merger.
Additional Information Regarding the Merger
On Oct. 24, 2005, Brillian filed a definitive joint proxy statement/prospectus pursuant to Rule 424(b)(3) regarding the merger with the Securities and Exchange Commission ("SEC"). Because the joint proxy statement/prospectus and any other relevant materials filed by Brillian with the SEC contain important information about Brillian, Syntax, and the merger, investors and security holders of Brillian and Syntax are urged to read them. These documents are available for free (along with any other documents and reports filed by Brillian with the SEC) at the SEC's Web site, www.sec.gov. In addition, free copies of the documents filed with the SEC may be obtained from Brillian by contacting Investor Relations, 1600 N. Desert Dr., Tempe, Ariz., 85281, 602-389-8888.
At today's meeting, Brillian's stockholders also approved proposals to enable Brillian to effect a reverse stock split if necessary to maintain its listing on the Nasdaq National Market, to authorize a corporate name change from Brillian Corp. to Syntax-Brillian Corp. and to ratify two financing transactions.
About Brillian Corp.
Brillian Corp. designs and develops rear-projection HDTVs targeted at retailers and end user customers looking for breakthrough performance and image quality that sets a benchmark in HDTV price/performance. The company is the first and only provider of LCoS(TM) Gen II technology used in these products. In addition to its high-definition televisions, Brillian also offers a broad line of LCoS(TM) microdisplay products and subsystems that original equipment manufacturers (OEMs) integrate into proprietary HDTV products, multimedia projectors, and near-to-eye products such as monocular and binocular headsets. Brillian's LCoS(TM) Gen I and LCoS(TM) Gen II microdisplay technologies address the market demand for a high-performance display solution with high image fidelity, high-resolution scalability, and high contrast ratios. The company's Web site is www.brilliancorp.com.
About Syntax Groups Corp.
Founded in May 2003, Syntax Groups Corp. (www.syntaxgroups.com) manufactures the high-value, affordable Olevia family of widescreen HDTV-ready LCD TVs. Since the company commenced its initial shipments of Olevia LCD TVs in April 2004, Syntax has achieved unparalleled growth and is now recognized as one of the fastest growing LCD TV brands in North America with ranking in the "Top 5" North American LCD TV brands and in the "Top 10" worldwide. Delivering on its mission to design and mass-produce digital convergence consumer electronics products with superior specifications and competitively affordable prices, and support consumers of its Olevia brand with a unique, customer-friendly after-sale warranty program, Syntax has rapidly established broad distribution in the North American retail sales channel and has expanded operations in Asia. Syntax maintains its own final assembly and quality control production facility at Syntax headquarters located at 20480 E. Business Parkway, City of Industry, Calif., 91789.
Brillian is a registered trademark and LCoS is a trademark of Brillian Corp. All other trademarks are the property of their respective owners.
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and Brillian intends that such forward-looking statements be subject to the safe-harbor created thereby. Such forward-looking statements include expectations regarding the anticipated timing of the closing of the merger. Brillian cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include (a) the anticipated closing date of the proposed merger with Syntax; and (b) other risks as detailed in Brillian's Annual Report on Form 10-K and in the Registration Statement on Form S-4 filed in conjunction with the proposed merger.
Additional Information Regarding the Merger
On Oct. 24, 2005, Brillian filed a definitive joint proxy statement/prospectus pursuant to Rule 424(b)(3) regarding the merger with the Securities and Exchange Commission ("SEC"). Because the joint proxy statement/prospectus and any other relevant materials filed by Brillian with the SEC contain important information about Brillian, Syntax, and the merger, investors and security holders of Brillian and Syntax are urged to read them. These documents are available for free (along with any other documents and reports filed by Brillian with the SEC) at the SEC's Web site, www.sec.gov. In addition, free copies of the documents filed with the SEC may be obtained from Brillian by contacting Investor Relations, 1600 N. Desert Dr., Tempe, Ariz., 85281, 602-389-8888.
© 2005 Business Wire
