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Leadis Technology Announces Approval of Plan of Dissolution

Submits voluntary delisting notice of its common stock to NASDAQ

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Leadis Technology, Inc. announced that the company’s stockholders approved the plan of dissolution of the company at a special meeting of the company’s stockholders held today. In addition, in accordance with the plan, the company intends to file a certificate of dissolution with the secretary of state of the state of Delaware and close its stock transfer books, each effective as of the close of business on Oct. 27, 2009.

At that time, the company’s common stock, and stock certificates evidencing shares of common stock, will no longer be assignable or transferable on the company’s books. If the certificate of dissolution is filed and becomes effective on Oct. 27, 2009, as currently anticipated, then only those stockholders of record as of the close of business on Oct. 27, 2009 will be entitled to receive liquidating distributions of available assets.

The company further announced that it has submitted notice of its intent to voluntarily delist its common stock from The NASDAQ Global Market. The notice to NASDAQ submitted by the company requested that trading in the company’s common stock be suspended by NASDAQ effective as of the open of business on Oct. 28, 2009, with the official delisting of the company’s common stock to be effective ten days thereafter, on Nov. 6, 2009.

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