Micrel, Inc. announced that it has received a purported request from Obrem Capital Management LLC (Obrem) and certain of its affiliates to call a special meeting of the shareholders on May 20, 2008.
The request also includes proposals to remove the company’s current Board of Directors, to amend the company’s bylaws to permit a majority of the outstanding shares to set the size of the Board, to change the size of the Board of Directors to six, to rescind the company’s Shareholder Rights Plan, and to elect six directors designated by Obrem.
Micrel’s Board stated that it will review the notice and consider it in light of the best interests of all shareholders of the company.
