& cplSiteName &

Oplink Answers Activist Investors

Light Reading
News Wire Feed
Light Reading
8/1/2014
50%
50%

FREMONT, Calif. -- Oplink Communications, Inc. (Nasdaq:OPLK), a leading provider of optical communication components, intelligent modules and subsystems, today issued the following statement in response to the announcement by Engaged Capital, LLC ("Engaged") and Voce Capital Management LLC ("Voce") of their nomination of two candidates to Oplink's Board of Directors to be considered for election at the Company's 2014 Annual Meeting of Shareholders:

    Oplink is committed to maintaining a highly experienced and well-qualified board. The Board intends to carefully evaluate Engaged and Voce's nominees as part of the Board's process of nominating candidates for the two director positions up for election at the 2014 Annual Meeting.

    In addition, we recently announced our intention to expand Oplink's Board of Directors by up to two members in order to add further industry expertise. Oplink is seeking highly qualified individuals with leadership experience in the telecommunications, data communications and/or related industries. We have engaged the director recruiting services of the National Association of Corporate Directors (NACD) to assist with this process, and we have already identified several potential candidates.

    Oplink welcomes input from shareholders, and our recently announced initiatives to enhance the Company's long-term value reflect, in part, constructive conversations we have had with several of our shareholders. Members of our board and management team recently participated in private discussions with Engaged and Voce, and we are disappointed they have chosen to pursue their agenda in this manner rather than continuing discussions with the company's board and management.

    Oplink recently announced a series of initiatives to further enhance long-term value for its shareholders. In addition to expanding the board by up to two members, those initiatives include the company's commencement of a process to evaluate strategic alternatives for its Oplink Connected unit, including a sale of the business; the authorization of a $40 million increase to its existing share repurchase program; and the initiation of a quarterly dividend to shareholders, which will begin with a $0.05 dividend in the first quarter of fiscal 2015.

Oplink Communications Inc. (Nasdaq: OPLK)

(1)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
nasimson
50%
50%
nasimson,
User Rank: Light Sabre
8/3/2014 | 3:53:54 AM
Definitely not a buy.
> the initiation of a quarterly dividend to shareholders, which will begin with
> a $0.05 dividend in the first quarter of fiscal 2015

a quarterly dividend of 5 cents!!! ???

2014 has not been a particularly good year for Oplink - except for last week - as far as the share price is concerned. Given the ongoing rift in BoD, I guess the stock will see more movement. Definitely not a buy.





 

 

 

 

 

 

 

 

 
Featured Video
From The Founder
The 'gleaming city on a hill,' Steve Saunders calls it. But who is going to take us from today's NFV componentry to the grand future of a self-driving network? Here's a look at the vendors hoping to make it happen.
Flash Poll
Upcoming Live Events
September 28, 2017, Denver, CO
October 18, 2017, Colorado Convention Center - Denver, CO
November 1, 2017, The Royal Garden Hotel
November 1, 2017, The Montcalm Marble Arch
November 2, 2017, 8 Northumberland Avenue, London, UK
November 10, 2017, The Westin Times Square, New York, NY
November 30, 2017, The Westin Times Square
All Upcoming Live Events
Infographics
With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
Hot Topics
Could the Connected Car Help Prevent Terrorism?
Dan Jones, Mobile Editor, 9/15/2017
Could 5G Have Found Its Glass Ceiling?
Dan Jones, Mobile Editor, 9/20/2017
Cities Slam FCC on Broadband Proceedings
Mari Silbey, Senior Editor, Cable/Video, 9/15/2017
1 Million Pirate Set-Top Boxes Sold in the UK
Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 9/20/2017
Comcast Shuts Down OTT Again
Mari Silbey, Senior Editor, Cable/Video, 9/19/2017
Animals with Phones
Live Digital Audio

Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

Like Us on Facebook
Twitter Feed