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.............................Trikon Technologies, Inc............................
(Name of Registrant as Specified in Its Charter)
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[TRIKON LOGO]
Trikon Technologies, Inc., Ringland Way, Newport, Gwent NP18 2TA, United Kingdom
Press Release
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TRIKON URGES STOCKHOLDERS TO VOTE AT THE
2003 ANNUAL MEETING TO BE HELD ON MAY 22, 2003
NEWPORT, Wales, United Kingdom, May 21, 2003 - Trikon Technologies, Inc.
(Nasdaq: TRKN), a technology leader in the semiconductor equipment industry,
issued the following additional information to its shareholders regarding the
upcoming Annual Meeting to be held on May 22, 2003.
Trikon management asks stockholders to vote for its nominees for election to the
board of directors:
Christopher D. Dobson
Nigel Wheeler
Jihad Kiwan
Robert Anderson
Richard Conn
Stephen Wertheimer
Management also asks stockholders to vote in favor of the adoption of Trikon's
2003 Omnibus Incentive Plan and in favor of the ratification of the selection of
Ernst & Young LLP as Trikon's independent auditors for the 2003 fiscal year.
Trikon filed definitive proxy materials on April 21, 2003 and additional
solicitation materials, on May 14 and 15, with the SEC. Stockholders are urged
to carefully review the notice, proxy statement and additional solicitation
materials before voting their shares.
Trikon has retained Innisfree M&A Incorporated to assist with the solicitation
of proxies for the 2003 Annual Meeting. Trikon is paying Innisfree $20,000 plus
expenses, currently anticipated to be $3,000, for their services. These costs
are being born by Trikon.
On May 12, 2003, Spinner Global Technology Fund, Ltd., the beneficial owner of
1,567,523 shares (including 92,593 shares underlying exercisable warrants) of
Trikon Common Stock, which shares represent approximately 11.1% of outstanding
shares of Trikon Common Stock, filed preliminary proxy materials with the SEC to
seek to elect two of its nominees, William W.R. Elder and Peter J. Simone, to
the Trikon board of directors. Spinner Global filed revised preliminary proxy
materials with the SEC on May 20, 2003. Spinner Global is recommending that
stockholders withhold authority to vote for Christopher D. Dobson and Stephen
Wertheimer and vote for the Spinner Global nominees. Spinner Global is also
recommending that stockholders vote against the Trikon 2003 Omnibus Incentive
Plan. Spinner Global is making no recommendation with regard to the ratification
of the selection of Ernst & Young LLP as Trikon's independent auditor for the
2003 Annual Meeting, but Spinner Global intends to vote for such proposal.
In addition to Spinner Global, the participants in Spinner Global's solicitation
include Spinner Global's nominees and Art Spinner, a founder and director of
Spinner Global. Spinner Global has retained Georgeson Shareholder Communications
Inc. to assist it with the solicitation of proxies.
Spinner Global filed definitive proxy materials with the SEC on May 20, 2003.
Management believes that Spinner Global's proposals are not in the best
interests of Trikon and its stockholders. Trikon's nominating committee and its
new CEO have determined that if Trikon expands its Board, it should seek
nominees who not only have strong ties to Asia, a market that Trikon is making a
strong effort to penetrate, but also have device experience, as opposed to
semiconductor equipment manufacturing experience. Furthermore, if Trikon opts to
expand the size of its Board, Trikon believes that it would not be in Trikon's
best interests to seek directors who are affiliated with competitors of Trikon.
Spinner Global's proposed nominees lack these qualities. In addition, Trikon's
current incentive plan expires at the end of the year and Trikon believes that
the Omnibus Incentive Plan is the best way to provide appropriate incentives to
management and employees of Trikon. Therefore, Trikon urges stockholders to vote
for management's slate of nominees and the Omnibus Incentive Plan.
If Stockholders have any questions or need any assistance in voting their
shares, please call Innisfree at 888-750-5834.
About Trikon Technologies:
Trikon Technologies, Inc. develops and manufactures advanced capital equipment
for plasma etching and chemical and physical vapor deposition (CVD and PVD) for
use in the production of silicon, compound semiconductors, opto-electronic and
waveguide devices. These semiconductor and optical devices are used in a broad
range of products including computers, telecommunications, consumer products and
automobiles. Trikon's website can be visited at WWW.TRIKON.COM.
Trikon Technologies Contact:
Corporate contact
Carl Brancher +44 (0) 1633 414111
CARL.BRANCHER@TRIKON.COM
US Investor Relations Contact
Allan Jordan, Golin/Harris International +1 212 697 9191
AJORDAN@GOLINHARRIS.COM
END