ALAMEDA, Calif., May 4 /PRNewswire/ --
Geoworks Corporation (Nasdaq: GWRX), a pioneer in mobile data communications
services and technologies, today announced that it is aware of an unsolicited
tender offer by Growth Capital Corporation to purchase up to 900,000 shares of
common stock from stockholders of Geoworks Corporation at $20.00 per share.
Geoworks Corporation has had no previous or current relationship with
Growth Capital Corporation and was never formally notified by Growth Capital
Corporation of the tender offer.
Geoworks recommends that stockholders reject the offer. Growth Capital
Corporation's notice of offer states that tenders of shares made pursuant to
the offer are irrevocable, even if the offer is extended. Accordingly, Growth
Capital Corporation could extend the offer for up to an additional 30 days
without tendering payment for the Shares. Without withdrawal rights,
stockholders may have no ability to liquidate their investment which means
that Growth Capital may purchase their shares at $20 per share in the future
regardless of Geoworks' then current stock price. Stockholders who have
tendered securities in response to the offer are advised to consult with their
broker and legal counsel with respect to their rights and obligations.
About Geoworks
Geoworks Corporation is a pioneer in mobile data communications services
and technologies for the business and consumer markets. The company's vision
is to enable mobile Internet access in the business to business and business
to consumer markets. Geoworks' Mobile ASP and Mobile Site solutions utilize a
flexible combination of its patented Premion Server+ technology and its mobile
media expertise to enable businesses to reach their mobile customers with
relevant and timely information. By licensing its essential Intellectual
Property Rights for the Wireless Application Protocol (WAP), Geoworks plays a
central role in advancing the worldwide market for mobile devices that enable
people to easily and instantly access and interact with information and
services. Based in Alameda, California, the company has international offices
in Sweden, Japan and the United Kingdom, and can be found on the World Wide
Web at http://www.geoworks.com.
In keeping with U.S. law, Geoworks notes that this press release includes
forward-looking statements, including the emergence of, and Geoworks'
participation in, the mobile data and technology services market. Actual
results may vary significantly due to various risks and uncertainties. Those
include, but are not limited to, the following: i) the mobile data and
technology services market may not emerge to the degree or timing anticipated;
and ii) new technologies and new services are inherently subject to
development, timing and consumer acceptance risks. Additional information is
available in the Risk Factors and Business discussions in the Company's Forms
10-K, 10-Q and other filings available from the Company or from the Securities
and Exchange Commission.
SOURCE Geoworks Corporation
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Related links:
http://www.geoworks.com
CONTACT:
Neil Rosen of Kalt Rosen and Chase Co.,
415-397-2686, for Geoworks; or Steve Baker, VP and CFO, of
Geoworks 510-814-1660
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