UNITED STATES
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SCHEDULE 14A
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MICREL, INCORPORATED
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The following is the text of a press release issued by Micrel, Incorporated on May 20, 2008:
| Investor Contact: | Media Contacts: | |
| Richard Crowley | Paul Kranhold/Andrew Cole/Diane Henry | |
| Micrel, Incorporated | Sard Verbinnen & Co | |
| (408) 944-0800 | (415) 618-8750 | |
| Or | ||
| Amy Bilbija | ||
| MacKenzie Partners, Inc | ||
| (650) 798-5206 | ||
 |
MICREL SHAREHOLDERS OVERWHELMINGLY REJECT OCM’S ATTEMPT
TO TAKE OVER COMPANY
All OCM Proposals Rejected at Special Meeting of Shareholders
San Jose, CA, May 20, 2008 — Micrel, Incorporated (Nasdaq:MCRL) announced that, based on preliminary information provided by the Company’s proxy solicitor, shareholders have rejected all proposals made by Obrem Capital Management (“OCM”) at a special meeting held today. The results include an overwhelming rejection of OCM’s proposals to remove Micrel’s current Board and replace them with OCM’s nominees and of their proposal to rescind the Company’s shareholder rights plan. OCM’s proposals to expand Micrel’s Board to six members and fill the sixth seat with another of OCM’s nominees were also decisively rejected.
“We appreciate the tremendous support Micrel and our Board of Directors have received today,” the Company said. “We believe the results of the vote reflect a clear rejection by Micrel shareholders of OCM’s attempt to take over Micrel and force an immediate sale of the Company. We also believe it sends a clear message that shareholders want OCM to discontinue its singular, disruptive agenda at Micrel, including its intention to proceed with a contest at the 2008 Annual Meeting. We look forwarding to continuing our productive dialogue with all of our investors and to focusing 100% on the business and creating value for all shareholders.”
About Micrel, Incorporated
Micrel, Incorporated is a leading global manufacturer of IC solutions for the worldwide analog, Ethernet and high bandwidth markets. The Company’s products include advanced mixed-signal, analog and power semiconductors; high performance communication, clock management, Ethernet switch and physical layer transceiver ICs. Company customers include leading manufacturers of enterprise, consumer, industrial, mobile, telecommunications, automotive, and computer products. Corporation headquarters and state-of-the-art wafer fabrication facilities are located in San Jose, California with regional sales and support offices and advanced technology design centers situated throughout the Americas, Europe and Asia. In addition, the Company maintains an extensive network of distributors and reps worldwide. Web: http://www.micrel.com.